Accounting Periods

[To Define Financials Basics]

Usage

Use this window to enter, change, and view information about accounting periods in IFS Applications. The period calendar consists of a main calendar and calendars for each user group. The calendar is connected to all the available ledgers in order to control the ledger opening/closing for accounting years and periods per ledger basis. The accounting periods can be created or modified only for the calendar connected to the general ledger.

Open periods for the previous year and several future years are created when a new company is created in IFS/Enterprise. These periods are based on calendar years with twelve periods per year. An accounting year can have either Open, Closed or Finally Closed status. All years, which are created when creating a company, are set to open status. By using the Open Up Closed Accounting Year action, a particular year that is in closed status can be changed to open.

Activity Diagrams

Modify Accounting Calendar Information

Activities

Modify Accounting Periods 
Add Year End Period
 
Open Up Closed Accounting Year
 
Close Period

Close/Finally Close Accounting Period Main Calendar