Open topic with navigation

Maintaining Accounting Periods

• Accounting Periods can be set up to match the financial reporting periods of the company.
• They can be set up globally for all Divisions or differently for each Division.

Menu

If the Division has been set up to have its own Accounting Periods, select the Accounting Period – Divisional menu option. If that menu option is disabled then the Division has already been set up to use the global settings.

Mandatory Prerequisites

Prior to creating Accounting Periods, refer to the following Topics:

• Division - Maintaining Divisions

Screenshot and Field Descriptions

Year / Period: this is the year and period number for the Accounting Period.

 

Last Transaction #: the system automatically populates this field with the number of the last transaction entered for the Accounting Period.

 

Date Range:

This is the date range for the Accounting Period.

Start Date: this is the date for the start of the Accounting Period.

 

Stop Date: this is the date for the end of the Accounting Period.

The values in the Start Date and Stop Date fields will be populated automatically based on an application site setting. Contact Progenesis if these values are not populating correctly.

Due Dates:

This is the default due dates associated with the Accounting Period.

Due Date 1: this is the first default due date for the Accounting Period.

 

Due Date 2: this is the second default due date for the Accounting Period.

Flags:

These are options for the Accounting Period.

Current: this nominates which Accounting Period is the current period for transactional data entry. Only one period can be current at any one time.

 

Open: this nominates if the Accounting Period is open for transactional data entry or closed.

 

Allow G/L Journals: if the Accounting Period has been nominated as closed, this option becomes available to allow the entry of G/L Journal transactions into the closed period.

Accounting Periods table: this is populated with the Accounting Period records already entered. New ones can be added. Existing ones can be deleted or changed by double clicking. Their content can be maintained in the fields to the left of the table.

How Do I : Search For and Maintain Entities

These General Rules are described in the Fundamentals Manual: How Do I : Search For and Maintain Entities

How Do I : Add a new Accounting Period

1. At the Year field, enter in the year for the Accounting Period.
2. At the Period field, enter the number for the Accounting Period.
3. The Date Range values are populated automatically.
4. The Due Dates values are populated automatically. Change if required.
5. In the Flags section:
   1. Click the Current check box if the Accounting Period is the current period for transactional data entry.
   2. Click the Open check box if the Accounting Period is open for transactional data entry. Leave if the Accounting Period is closed.
   3. If the Accounting Period is closed, click the Allow G/L Journals check box if entry of G/L Journal transactions into the period is still allowed.
6. Click the Application tool-bar push button: Add.
7. Confirm that you wish to add the new record.

How Do I : Modify an existing Accounting Period

1. Double click the row in the Accounting Periods table to change.
2. Change the Due Dates values if required.
3. Click the Flags options as required.
4. Click the Application tool-bar push button: Change.
5. Confirm that you wish to change the record.

How Do I : Delete an Accounting Period

1. Double click the row in the Accounting Periods table to delete.
2. Click the Application tool-bar push button: Delete.
3. Confirm that you wish to delete the record.

Related Topics

Accounting Periods are associated with the following Topics:

• Division - Maintaining Divisions