Modify Accounting Periods
Explanation
Use this activity to modify information on
accounting
periods in IFS Applications within a company. The period calendar consists of a main calendar and
corresponding calendars
for each user group. This mandatory task is to be performed by a system
administrator or equivalent person.
Prerequisites
This activity has the following prerequisites:
- The company must exist in IFS Financials.
- To validate transactions in progress for an
accounting period, the accounting period must have status Open or
Closed.
System Effects
As a result of this activity:
- User groups can be connected to the periods.
- The users in the user group can be allowed to enter postings on the accounting
period, i.e., the period is either open or closed for the user group.
- A period which is finally closed cannot be
reopened.
Window
Accounting Periods
Related Window Descriptions
Accounting Periods,
Validation Transactions in
Progress
Procedure
To perform this activity, follow these steps:
- Open the Accounting Periods window.
- Query for the existing accounting periods. A number of periods are default
when a company is created.
- Create a new record.
- Enter a period number and description.
- In the Valid From and Valid Until fields, enter the
beginning and end dates for the period.
- To define a period only for year-end designated vouchers, select
Year Opening or Year Closing in the Period Type list. If a
period is indicated as a year closing period, an ordinary period cannot
be created with a higher number.
- To open, close or finally close a period, select the
period, right-click and click either Close GL period, Open GL
Period or Close GL Period Finally, as appropriate.
When a new period is entered, the GL period status will always be Open.
(It is possible to open or close multiple periods at a time). Selecting
Close GL Period or Close GL Period Finally will open the
Validation
Transactions in Progress window.
- In the
Validation Transactions in Progress
window, select Close GL Period if you want to close the period or
Close GL Period Finally (If transactions which
generate errors exist, the period cannot be closed).
- Save the changes.
Note: To view transactions in progress for one
or more periods, the selected accounting periods must have status Open or
Closed. To close accounting periods, the selected periods must all have
the status Open. To open accounting periods, the selected periods must
all have the status Closed. To finally close an accounting period, it
must have the status closed.