---
title: "Period end financial report tie out"
sidebarTitle: "Period end tie out"
description: "Run the core Rackson financial reports in Sage Intacct and tie cash, net income, and the clearing account across them before the period is closed."
icon: "link"
---

> **For AI agents:** the complete documentation index is at [llms.txt](/llms.txt). Append `.md` to any page URL for its markdown version.

This process runs the core financial reports for the period — **Account Balances, Income Statement, Balance Sheet, and Cash Flow** — then ties key figures across those reports to confirm they agree before the period is closed. It also checks the clearing account for unexpected activity and reviews store-level results.

<Info>
  **Source:** `Period End Financial Report Tie Out Process.docx`, with the accompanying recordings `Period End - Financial Report Tie Out Steps.mp4` and `Period Close - Report Footing and Tie Out Steps.mp4` (both 22m 11s — the same walkthrough at two quality levels).

  **Systems:** Sage Intacct
</Info>

## Before you start

- Access to Sage Intacct for the Rackson entity with permission to view the **General Ledger Reports** menu.
- **Know the period end date you are closing.** The reports in the source walkthrough were run through 06/28/2026, with a comparison back to the prior fiscal year end, 12/28/2025.
- **A calculator** for verifying cash flow figures by hand.

## What actually gets tied

Four ties, all of which must hold:

| Tie | Confirms |
|---|---|
| Cash per Balance Sheet = Cash per Cash Flow | The two statements agree on ending cash |
| Prior year ending cash = current year beginning cash | Opening cash rolled forward correctly |
| Clearing account = no balance | Nothing unresolved sitting in suspense |
| Net income per store side-by-side = Account Balances total | The P&L reports and the GL agree |

## Steps

<Steps>
  <Step title="Open the Financial reports list">
    In Sage Intacct, open **General Ledger → Reports → Financial reports**. This lists every stored financial report for Rackson, along with **Process & store, HTML, CSV, PDF, and Excel** options for running each one.

    <Frame caption="The Rackson Financial reports list under General Ledger">
      <img src="/images/customers/rackson/period-end-report-tie-out/image1.png" alt="Sage Intacct financial reports list for Rackson" />
    </Frame>
  </Step>

  <Step title="Run the Account Balances report">
    Search for and open **Account balances report**. Set the **Location** filter to `RRS / RCY Entities`, retain YTD balances, and run through the period end date. The report returns each GL account's opening balance, debit, credit, and closing balance for the period.

    <Note>
      **Keep this report open or handy.** The closing balance total at the very bottom is used in the final step to tie out to net income.
    </Note>

    <Frame caption="The Account Balances report showing opening and closing balances by GL account">
      <img src="/images/customers/rackson/period-end-report-tie-out/image2.png" alt="Account balances report with opening and closing balances by GL account" />
    </Frame>
  </Step>

  <Step title="Run the Income Statement — Actual vs Prior Yr — Consolidated Detail">
    Search for it, enter the same period end date and the `RRS / RCY Entities` location, and run. Review **Gross Revenue, Cost of Sales, and Gross Profit** for the current period against the same period last year, and current YTD against last YTD.

    <Frame caption="Income Statement Actual vs Prior Yr Consolidated Detail, comparing the current period and YTD to last year">
      <img src="/images/customers/rackson/period-end-report-tie-out/image3.png" alt="Income statement actual versus prior year consolidated detail report" />
    </Frame>
  </Step>

  <Step title="Run the Balance Sheet Consolidated Detail and Summary">
    Run **Balance Sheet - Consolidated Detail** for the same date and location to review every balance sheet account line by line.

    Then run **Balance Sheet - Consolidated - Summary** and **note the Cash balance shown for the Current Period** — it is used to tie out the Cash Flow statement in the next step.

    <Frame caption="Balance Sheet Consolidated Detail for the period end date">
      <img src="/images/customers/rackson/period-end-report-tie-out/image4.png" alt="Balance sheet consolidated detail report" />
    </Frame>

    <Frame caption="Balance Sheet Consolidated Summary, with Cash for the Current Period highlighted">
      <img src="/images/customers/rackson/period-end-report-tie-out/image5.png" alt="Balance sheet consolidated summary with the cash balance highlighted" />
    </Frame>
  </Step>

  <Step title="Run the Cash Flow Combined report">
    Search for **Cash Flow - Combined** and run it for the same date and location. The report lists the Statement of Cash Flows by period, ending with **Cash - Beginning of Period**, **Net Increase (Decrease) in Cash**, and **Cash - End of Period** for each period column.

    <Frame caption="Statement of Cash Flows, with a column for each period">
      <img src="/images/customers/rackson/period-end-report-tie-out/image6.png" alt="Statement of cash flows with one column per period" />
    </Frame>
  </Step>

  <Step title="Verify the cash flow math with a calculator">
    Subtract **Cash - End of Period** from **Cash - Beginning of Period** for the current period column, and compare the result to the **Net Increase (Decrease) in Cash** line in that same column.

    In the source period: beginning cash **10,723,519** less ending cash **10,201,606** = **521,913**, which ties to the reported net decrease of **(521,914)** within a $1 rounding difference.

    Also confirm **Cash - End of Period** on the Cash Flow report matches the **Cash balance on the Balance Sheet Summary** from the previous step — both were **10,201,606**.

    <Note>
      A rounding difference of **a dollar or two** between the calculator and the report is expected and is not a sign of an error. **Look into it only if the difference is larger than a few dollars.**
    </Note>

    <Frame caption="Using a calculator to confirm beginning cash less ending cash equals the net increase (decrease) in cash">
      <img src="/images/customers/rackson/period-end-report-tie-out/image7.png" alt="Calculator verifying the cash flow net change figure" />
    </Frame>
  </Step>

  <Step title="Confirm beginning-of-year cash against the prior year end balance sheet">
    Run **Balance Sheet - Consolidated - Summary** again, this time entering the **prior fiscal year end date** as the **As of** date. Confirm the Cash balance shown for the Current Period **matches the Cash - Beginning of Period YTD column** on the Cash Flow Combined report.

    In the source period both were **10,574,165**. **This confirms the current year's opening cash rolled forward correctly from the prior year's closing cash.**

    <Frame caption="Balance Sheet Consolidated Summary run as of the prior fiscal year end">
      <img src="/images/customers/rackson/period-end-report-tie-out/image8.png" alt="Balance sheet consolidated summary run as of the prior fiscal year end date" />
    </Frame>
  </Step>

  <Step title="Review the Side by Side Corp Detail YTD report by location">
    Search for **Side by Side Corp - Detail - YTD** and run it for the period end date. Review the **General & Administrative** section across all store locations for anything unusual, and note the **Net Income (Loss)** by location at the bottom.

    <Frame caption="Side by Side Corp Detail YTD, showing General & Administrative detail by location">
      <img src="/images/customers/rackson/period-end-report-tie-out/image9.png" alt="Side by side corp detail YTD report showing G and A detail by location" />
    </Frame>
  </Step>

  <Step title="Check the Clearing Account for unexpected balances">
    From the **General Ledger** menu, open **Reports → Dimension balances**.

    <Frame caption="Navigating to Dimension balances from the General Ledger Reports menu">
      <img src="/images/customers/rackson/period-end-report-tie-out/image10.png" alt="Navigating to dimension balances from the general ledger reports menu" />
    </Frame>

    Set the GL account number selection to a range from **99999, Clearing Account** to **99999, Clearing Account**. Set the **As of** date to the period end date, and set **Location** to `RRS / RCY Entities`.

    <Frame caption="Dimension balances report configured for GL account 99999, Clearing Account">
      <img src="/images/customers/rackson/period-end-report-tie-out/image11.png" alt="Dimension balances report configured for the clearing account" />
    </Frame>

    Click **View**. A result of **"No data found for selected filters"** confirms the Clearing Account has no unresolved balance for the period — **this is the expected result.**

    <Warning>
      **If this report returns a balance instead of no data**, the amount sitting in the Clearing Account **needs to be researched and reclassified before the period is closed.**
    </Warning>

    <Frame caption="No data found confirms the Clearing Account is clear for the period">
      <img src="/images/customers/rackson/period-end-report-tie-out/image12.png" alt="Dimension balances report returning no data found for the clearing account" />
    </Frame>
  </Step>

  <Step title="Review store level results">
    Search for and run the **Side by Side - Summary - YTD** reports for RRS and NRG to review each store's **Key Statistics** — Average Weekly Gross Revenue, Cost of Sales percentage, and labor percentages — for anything out of line with prior periods.

    <Frame caption="Side by Side Summary YTD, showing Key Statistics by store">
      <img src="/images/customers/rackson/period-end-report-tie-out/image13.png" alt="Side by side summary YTD showing key statistics by store" />
    </Frame>

    Then run **Side by Side - Detail - Period** and scroll to the **Net Income (Loss)** row. The **Total** column at the far right — **447,997** in the source period — is the figure to tie back to the Account Balances report in the final step.

    <Frame caption="Side by Side Detail Period, Net Income (Loss) row with the All Locations Total">
      <img src="/images/customers/rackson/period-end-report-tie-out/image14.png" alt="Side by side detail period report net income row with all locations total" />
    </Frame>
  </Step>

  <Step title="Confirm the tie out">
    Return to the **Account Balances** report and scroll to the **Totals** row at the bottom. The closing balance total — **447,997.20** in the source period — **matches the Net Income (Loss) Total** from the Side by Side Detail Period report, within normal rounding.

    **This confirms the P&L side-by-side reports and the GL agree for the period, and the tie out is complete.**

    <Frame caption="Account Balances report Totals row, with the closing balance tying to net income">
      <img src="/images/customers/rackson/period-end-report-tie-out/image15.png" alt="Account balances report totals row tying to net income" />
    </Frame>
  </Step>
</Steps>

## Summary

This process runs the core Rackson financial reports for a period end close and ties the key figures together: cash per the Balance Sheet to cash per the Cash Flow statement, the prior year's ending cash to the current year's beginning cash, the Clearing Account confirmed clear, and total net income per the store side-by-side reports to the total per the Account Balances report.

<Warning>
  **Any break in these ties should be researched before the period is closed.**
</Warning>

## Related

- [P&L review process](/internal/customers/rackson/review-process/pl-review) — the analytical review that follows these ties
- [Intacct reporting infrastructure](/internal/customers/rackson/review-process/intacct-reporting) — how the cash flow report is built, and its required ending-cash check
- [Running and delivering prelim reports](/internal/customers/rackson/processes/running-prelim-reports)