Use the Accounting Periods form to maintain periods
and their details.
To add a new accounting period:
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On the form, select .
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Specify this information:
- Fiscal Year
- The next fiscal year is automatically populated.
- Closed
- Select this check box if the current year is a completed fiscal
year.
- Current Period
- For new periods, the number one is displayed. When displayed existing periods, select a period number. It must
be in the range from 1 to 13. The number must be for a period that
has dates defined for the corresponding period. After selecting the
period number, its starting and ending dates display.
- Period Number
- The period number for the accompanying dates is displayed.
- Start/End Date
- Specify the date range for each period. You are not required to use all 13 periods. The end date of one
period must be one day before the start date of the next period. When
the system initially creates this record, only period 1 has any dates
defined. The period is a yearly period beginning with January 1 of
the current actual year through December 31.
-
Select Monthly and click Generate
Period to create 12 monthly periods for the current year. Any
existing accounting period information is overwritten.
-
Select Quarterly and click Generate Period to create 3-month periods for
the current year. Any existing accounting period information is overwritten.