Add Year End Periods
Explanation
Use this activity to add periods to be used exclusively for year-end
designated vouchers. Two year-end period types exist, Year
Opening and Year Closing. The year opening period is the period for opening
balances. Only period 0 can be a year opening period. Several year closing periods
can be created for the same accounting year. Only one year end period can be
open at a time. Year-end user groups must be connected to the year-end
periods.
Prerequisites
None.
System Effects
- Budget values in
Budget Year Amount will not be
allocated to year-end periods through the Allocate All Year Values action.
- Period Allocations will only be performed to
address accounting
periods that are not year-end periods.
- When depreciation periods are created in IFS/Fixed
Assets, year-end periods will be excluded.
- If a period is marked as a year
closing period, an ordinary
period cannot be created with a higher number.
Window
Accounting Periods
Related Window Descriptions
Accounting Periods
Procedure
Use the following procedure to enter a year opening period:
- Populate or query
Accounting Periods
for the year in which a year opening period is to be added.
- With the cursor in the Period field, click New. Enter
0 in the Period field and a description for the
period.
- Enter values in the Valid From and Valid
Until fields. The valid from and valid until dates must be
equal to the first ordinary accounting period's valid from date. This means that the
Valid From and
Valid Until fields for the year opening period will contain the same value.
- Select Year Opening in the Period Type
list.
- Save.
- Right click and then click either User Groups per Period or Create
Periods for User Groups to enter a user group for the period. Only
year-end user groups are allowed on year opening periods.
- Save.
Use the following procedure to enter a year closing
period:
- Populate or query
Accounting Periods
for the year for which a year closing period is to be added.
- With the cursor in the Period field, click New. Enter the name and description for the
period.
- Enter values in the Valid From and Valid Until fields. The
valid from and valid until dates must be equal to the valid until date from the previous period. This
means that the Valid From and Valid Until fields for the year
closing periods will contain the same value.
- Select Year Closing in the Period Type
list.
- Save.
- Right click and then click either User Groups per Period or Create
Periods for User Groups to enter a user group for the period. Only
year-end user groups are allowed on year closing periods.
- Save.