Current Period

On theAccounting Periods or Multi-FSB Accounting Periods form, specify the current period number. The number must be for a period which has dates defined for the corresponding period. After the period has been specified, its starting and ending dates display.

The current period is the earliest open financial period. Journal postings are usually posted to this period.

When the current period is needed, this number determines the current period. The current calendar date is not used. No program changes this field, so you must keep it up-to-date manually. Updating this field should be part of your month-end procedures.

On the Accounting Periods Control Number Sequences form, this field displays the current periods from the Accounting Periods form. Control Number Sequences do not apply to multi-FSB accounting periods.