Status

On the Accounting Periods and Multi-FSB Accounting Periods forms, use this field to specify the status of the selected period. The field can be updated by anyone who has permission to update the form. These are your options:

• Open – This is the default value for a new period. The period is open and transaction posting is based on the allowable days settings on the General Parameters form. Allowable days may be overridden by users assigned to these authorization groups: Enter Out of Date Range and Posting Out of Current Period.
• Closed – Allowable days settings and group permissions are overridden. When the status is set to Closed, no transactions can be posted. The fiscal year cannot be closed unless all period statuses are set to Closed.
• Adjusting – Allowable days settings are overridden. When the status is set to Adjusting, only users with Enter Out of Date Range permissions can enter business transactions, even in the current period. Only users with Posting Out of Current Period permissions can post to the ledger, even in the current period.

On the Accounting Period Control Number Sequences form, the status from the Accounting Periods form is displayed and is read-only.