Tips for Closing Companies Quickly & Efficiently

Today we’re going to showcase 2 great features the SSI Oil and Gas Accounting Software offers.

ICYMI. GL07M – Multi‐Function Month‐End Processing and GL07PT – Excel Trial Balance Pivot Table were included in the 2025 Release presented by SSI at the end of the year. Did you miss it? Or maybe you gave it a quick glance and opted to implement later? Now’s the time!

Let’s start with GL07M – Multi‐function Month‐End Processing

How many times have you wished for an “one for all” button? Well here it is. It’s WAY COOL because this program allows a specific group of companies to close ALL AT THE SAME TIME! You heard that right. Or…close ALL companies at once! Instead of closing General Ledger for company 01, then switching to company 02, switching to company 03, and so on, multiple company closings can be done all in one fell swoop. On the GL07M dialog screen, select what companies to include ‐ one, some or all.

For General Ledger closing, it’s GL07M all the way!! GL07M will swoosh (like Nike) through each company’s GL07 and your choices for any/all of the following:

GL08 – Detailed Transactions
GL09 – All/Selected Journals
GL10 – Cash Flow Statement
GL11 – Balance Sheet
GL12 – Income Statement

And finally…GL13 – Close GL Period to History, in one process, with prompts along the way to show the steps in the chain currently being processed.

All it takes is a simple one‐time front‐end set up of a Month End Reference and Description wizard. A list of companies to include in the auto‐close (all companies if desired) will be presented. Perform any pre‐GL closing stuff (like well history) for each company just the same as always.

GL07M works especially well when specific users manage and are responsible for a specific group of companies within SSI, downstream or otherwise. Set a wizard to close the specific group of companies for which each user is responsible.

Noteworthy – companies included in the closing process do not have to be at the same point on the period to be closed. Company 01 oldest open period to close can be period 09, company 02 oldest open period is 07, and so forth. You can even have a company that’s ready to close period 13 (Year‐End) in the mix. For any company(s) at year‐end, the year‐end option will be available on the screen to select.

Click on, click off. It’s so versatile! What if you’re not quite ready to close the General Ledgers but want all the financial reporting for review? Multi‐company financials can be generated from the GL07M dialog screen. Click on the Financial Statements to be generated. Financials will be executed for all selected companies in one step. BUT! If not yet quite ready to close the General Ledger, click off the GL13 option on the screen. It’s that easy!

When financials are reviewed/approved and ready to close, access GL07M again. Under Month‐End Close select GL13 – Close GL Period To History. This will execute the month‐end close process for all companies selected. Oh yes…Financial reporting is still an option to re‐run if desired. There are just SO MANY ways to go!!! And OH! Don’t forget year‐end closing process – it does that too! All steps necessary to close for the year, closing to retained earnings, etc. for selected companies that are ready for period 13 (year‐end) closing.

Need to re‐open the General Ledger? No problem! It is standard GLH97 – Open Closed GL History protocol, just as is normally done to re‐open closed periods.

The whole thing is out in Help for your reading pleasure. Take a peek and give it a try.

Then tell us if this isn’t a time‐saver? We’ll argue that point!

Next up on the hit parade??

GL07PT – Excel Trial Balance Pivot Table.

Have you ever wanted to take the GL07 – Trial Balance for multiple companies and combine into an Excel pivot table format? Let Excel do what Excel does best! This new program works in tandem with the GL07M – Multi‐function Month‐End Processing above. The GL07M consolidates multiple companies using the Reference selected, and based on that GL07M, the GL07PT program EXPORTS those multi‐company Trial Balances into an Excel spreadsheet in the PERFECT FORMAT for creating a Pivot Table. The GL07PT creates a spreadsheet with a column for Account Number/Name, each company’s balance in the account, and a total.

How does it work? Remember, it all starts with the GL07M for the desired companies. The GL07PT is generated from the most recently executed GL07M. In GL07M add a Reference (it can be created once and then used over and over!) and describe for each/any group of companies. Interesting aside ‐ you can set up a reference to include all companies if you want. Select the GL07 Trial Balance choice (upper left under Trial Balance/Transactions section) to run the Trial Balances.

Now…in GL07PT select the appropriate Reference for the companies desired (the Reference carries through from above) and the trial balance for each company is exported to Excel in an easy Pivot Table format.

For those of you who like and know how to use Pivot Tables, you’ve got your wish. And for those who don’t know as much about using Pivot Tables…when the GL07PT program is launched, the INSTRUCTIONS for how to create/use the Pivot Tables auto‐appear right on your screen!!

Leave the work to SSI Oil and Gas Accounting Software so that you can do YOUR job better, EZier and faster!

SSI makes YOUR job EZier!!

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