How to Close a Claim Cycle
The Finance Department will need to close is responsible for closing the claim cycle during at the end of the specified period. This process ensures all claims for the cycle are finalized and synced with the MySoft ERP system.
To close a Claim Cycle, change the status from ‘OPEN’ to ‘CLOSE’ in the ‘Main Details’ tab. Please refer to the screenshot below.
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You will then need to enter a running number in order to complete the closing action. After this, the system will auto-sync the data of this claim cycle to MySoft ERP.
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The reference number is a part of the requirement for MySoft ERP. |
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Example Scenario
A Finance Officer manages the claim cycle for September 2024. After ensuring all claims are reviewed and finalized, they change the cycle's status to "CLOSE."
Action: The officer enters the reference number BIZ2024/(09) to close the cycle. The system syncs the data to MySoft ERP, and the cycle is archived in the Claim Cycle History.
Outcome: The closed claim cycle is successfully reconciled with the ERP system, ensuring compliance with financial processes.
Steps to Close a Claim Cycle
Navigate to the Claim Cycle Applet:
Select the relevant claim cycle from the Claim Cycle Listing.
Change the Status to "CLOSE":
In the Main Details tab, locate the status dropdown field.
Change the status from OPEN to CLOSE.
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Enter the Reference Number:
The system will prompt you to enter a unique Reference Number (e.g., BIZ2024/(09)).
This reference number is essential for the synchronization with the MySoft ERP system.Confirm Closure:
Once the reference number is entered, click Confirm to finalize the closure.
The system will automatically sync the data with MySoft ERP for financial processing.
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Post-Closure Actions
Claim Cycle Removal:
The closed cycle is removed from the current listing and is moved to the Claim Cycle History tab.
Users can access Claim Cycle History via the side menu for reference or audit purposes.
Integration with MySoft ERP
Once closed, the claim cycle data is automatically synced with the MySoft ERP system.
This integration ensures:
Accurate and timely financial reconciliation.
Centralized financial tracking across the organization.
This streamlined process simplifies the claim cycle management and guarantees synchronization with enterprise systems for accurate record-keeping.