Modify Accounting Calendar Information

The accounting calendar consists of a main calendar and calendars for each user group. These calendars are connected to a ledger in a company in order to control the opening/closing for accounting years and periods per ledger. The following are methods for using accounting periods:

• Block future periods to eliminate incorrect postings. Open these again when you want to use them.
• After you enter all vouchers in a period, you can close it to certain user groups but leave it open to those who reconcile periods.
• After you close a period entirely, it will be closed to all groups in the main calendar. The program checks that all the period transactions are updated in ledger wise. If there are vouchers in the hold table, they must be updated before the period can be closed. You can reopen a closed period to enter more vouchers in it. The new transaction can affect the period reconciliation.

Accounting Calendar

Open periods for the previous year and several future years are created when a new company is created. These periods are based on calendar years with twelve periods per year. Modify or complete the information to suit the requirements of your company. Use the New function to create new periods, if applicable. Then connect the user group to the period by using either the User Groups per Period or Create Periods per User Group right mouse button operations. You can create year opening and year closing periods to distinguish postings designated to year-end accounting from postings that belong to the ordinary accounting periods.

Split Financial Year

If a company uses a split financial year and has installed IFS/Fixed Assets, then you must modify or complete the calendar information. After the company is created in IFS/Accounting Rules, all periods in the Depreciation Calendar window in IFS/Fixed Assets will be deleted. Modify the periods in the Accounting Periods window in IFS/Accounting Rules. Before modifying the periods you need to disconnect user groups from the periods. When all periods are created, generate the same periods in the Depreciation Calendar window in IFS/Fixed Assets by using the Initialize Periods operation. The periods are copied from IFS/Accounting Rules when you use this operation.