Validation of transaction dates and accounting periods

Ledger Entry

Once an accounting period and transaction date has been entered into the Ledger Entry form, SunSystems checks whether a financial year belonging to a Financial Calendar is in use for the accounting period entered.

If it is determined that a Financial Year applies for the year of the accounting period entered and the Validate Transaction Dates option has been selected in Financial Years, the transaction date entered must then fall within the date boundaries of the accounting period entered.

If the transaction date entered is not within the required range, the following message is displayed, 'Transaction date is out of the range defined for this Accounting Period.'

If you are using a Journal Type with Reverse Next Period selected, the Transaction Date on the reversed portion of the journal is substituted in the next period with the first calendar day of the accounting period of that reversed journal. If the next period is an adjustment period then the period is advanced to the first period of the next year. If the period for the reversing journal is closed or not setup then the journal is rejected.

Ledger Import

Ledger Import allows the accounting period to be derived from the transaction date where only a transaction date is provided.

If the Transaction Date and Accounting Period both exist on the incoming data, Ledger Import checks whether a Financial Calendar is in use for the business unit into which data is being imported.

For each line of the import data Ledger Import checks whether:

• a Financial Year belonging to a Financial Calendar is in use for the accounting period entered
• a Financial Year, as determined by the Financial Calendar, applies for the year of the accounting period
• the Validate Transaction Dates flag has been ticked for the required Financial Year.

If the Validate Transaction Dates flag has been set for the Financial Year, SunSystems checks whether the:

• Ledger Setup Transaction Date Substitution is set to 'Disallow', and if so, bypasses the Transaction Date Substitution logic.
• Ledger Setup Transaction Date Substitution is set to Allow - this setting applies the existing logic of Transaction Date Substitution (when the date may or may not be substituted), and continues to apply the Calendars logic in the next step (which might result in a date substitution).
• Transaction date falls within the date boundaries of the accounting period in question.

If the transaction date is beyond the date boundaries of the accounting period, the following message is written on output to the Ledger Import Report, 'Transaction date is out of the range defined for this Accounting Period.'

If the posting option Post has been selected and the transaction date does not fall within the Transaction Date boundaries of the Accounting Period, the system treats the transaction line as ineligible for posting. Therefore the line is posted to the Suspense Account, with the last calendar day of the accounting period as the Transaction Date.

If the Reverse Next Period option is selected on the journal type the transaction date is substituted on the reversed portion of the journal in the next period with the first calendar day of the accounting period of that reversed journal. If the next period is an adjustment period then the period is advanced to the first period of the next year. If the period for the reversing journal is closed or not setup and if Post has been selected, the journal is rejected. If Post if No errors is selected the period on the reversing journal is set back to that of the original journal.

The same rules apply for:

• Journal Reversal and Copy
• Payment Run - where the Payment date is taken as the transaction date
• Payment Collection Run - where the Collection date is taken as the transaction date
• Reconciliation Manager
• Order Fulfilment and Business Line Import postings.

If only the Transaction Date exists and no Accounting Period, Ledger Import checks whether a Financial Calendar is in use for the business unit into which data is being imported.

For each line of the import data Ledger Import checks whether:

• a Financial Year, as determined by the Financial Calendar, applies for the transaction date
• the Validate Transaction Dates flag has been ticked for the Financial Year in question.

If the Validate Transaction Dates flag has been set for the Financial Year, Ledger Import references the Financial Years in use for this business unit and determines from the Financial Year record the accounting period which maps to the transaction date on the transaction line. If there is more than one adjustment period that matches, the first eligible period is selected. This period is used as the period for the journal line.

These rules also apply to:

• Corporate Allocation
• Ledger Revaluation
• Transaction Matching

For these functions the system applies the last day of the accounting period for each transaction line in place of Today's Date, however, Entry Date is still set to Today's Date.

Order Fulfilment

In Order Fulfilment processes, adjustment periods, including year end adjustments, cannot be used. Any period calculations also ignore adjustment periods.