Before running the first COB

What this prepares

A permitted user can start Close of Business for the tenant's current business date, pass precheck, monitor every step, and resolve or retry a failure without creating a competing run.

Required before first use

• One COB Configuration exists for the tenant and is Authorized.
• An Authorized active financial working year has coherent last, current, and next working days. When those dates cross a year boundary, the adjacent authorized year and month rules must also exist.
• Decide whether the mode is Manual or Automatic. Automatic mode also requires Enabled, an auto-start time, and a valid tenant timezone.
• Review the policy for submitted ordinary transactions still awaiting approval: either roll them to the next working day or block the close until they are resolved.
• Review the strictness and safety switches for due forward-dated transaction failures, retroactive accruals, interest accrual and posting failures, loan schedule generation, and other supported warnings.
• Ensure no other COB run is Pending, in Precheck, or Running for the tenant. A failed run for the current business date must be retried or resolved before a new run when Strict Mode is enabled.

Configure the calendar under Business Configuration → Financial Configuration → Business Calendar. Configure COB under Processing & Monitoring → Close of Business → Configuration. See Business calendar and Configure COB.

Access and operating coverage

• A user maintaining the policy needs the relevant COB Configuration Create or Update permission and its configured checker authorities.
• A user starting or retrying a run needs Create COB Run. Monitoring the run and its steps needs Read COB Run. Both remain tenant-scoped.
• The config maker cannot authorize their own COB Configuration when approval is required.
• Assign an operator who can investigate failed financial jobs and an approver who can resolve the pending transaction decisions chosen by the policy.

Required only when using this feature

• If active loans exist, configure an Authorized loan-classification rule. Every resulting classification needs an authorized loan provision configuration, the required internal liability and expense products, and authorized internal GL accounts for each affected branch.
• With active loans, the LOAN-PROVISION transaction code must exist and be Authorized before provisioning can post.
• If account interest is in use, confirm that effective Account Conditions, posting transaction codes, taxes, and internal posting accounts are available for the accounts due to accrue or capitalize.
• If due forward-dated transactions, loan schedule jobs, fixed-deposit events, commissions, or third-party delivery are in scope, verify their configuration and clear known failures before the first close.

Verify the setup

1. Open Close of Business → Configuration and confirm the record is Authorized, the mode is intentional, and the safety policy is understood.
2. Open Close of Business → Runs and confirm there is no active or unresolved competing run for the current business date.
3. Confirm that the displayed current and next working days match the approved financial calendar.
4. Resolve known pending approvals and failed financial jobs according to the configured policy.
5. Trigger the first run in a controlled operating window and watch the Precheck result before allowing the run to continue unattended.
6. If the run fails, correct the reported blocker and use Retry on that failed current-date run rather than starting another run.

Continue with Run and monitor COB.