Period End Dates (IC01.2)
Use Period End Dates (IC01.2) to define company period information. The Inventory Control application uses this information to:
- Control general ledger posting dates.
- Control transaction dates.
- Determine history and forecast periods.
- Recapture data for use in management reporting.
- Calculate average inventory.
Note: After you begin entering inventory transactions, you cannot
change period ending dates. If you manually change or close periods, IC242
(Transaction Audit Report) will use inaccurate data to calculate period ending
quantities and IC190 (Closing) will miscalculate the average inventory cost.