Revised: 10/19/2015
Go to Maintain>> Accounting Period Master
This program is used to setup and maintain accounting period information. After the initial accounting periods are setup, closing a fiscal year will automatically create the next accounting periods. Users may also setup the next accounting period manually.
See Also:
Select a fiscal year to view or edit using the browse feature tied to this field.
To setup a new fiscal year (if not created during End of Year Processing)
Leave the Segment field blank if the Company/Fund has the same fiscal year (accounting period) for all partitions of the company. When the new fiscal year is saved the program will insert "Master Control" in the Segment field.
If some portions (partitions) of the company/ledger have different fiscal years, then multiple accounting periods for the same year can be set up using the Segment field.
A Master Accounting Period must be set up for your "Main" fiscal year with Master Control in the Segment field. Then create an Accounting Period (fiscal Year) for each and every partition by entering in the Period Control>>Master Segment value for that partition of your company in the Segment field. You must create a fiscal year for every possible value in the Master Segment of your GL account number. Reporting may not work correctly if an Accounting Period is not created for all segment values.
**Note: The Master Segment is found in Settings>>General Ledger Settings on the System Information tab under Accounting Period Control. If no segment is shown as the Master Segment, select one to have different accounting periods (fiscal years). Check the box for “Using Segment Controlled Accounting Periods” in the settings file. If you will have different fiscal years for some or all of the segments, check the "Segments Can be in Different Acocunting Years" box.
When End of Year Processing is run, the next accounting period is automatically created. If you are manually setting up a new accounting period, enter the four digit year the fiscal year would end on.
When the Segment field is used to select an accounting period, the year will be displayed.
See Also:
Enter the number of actual periods or use the up and down arrows to scroll to the number of actual periods. This number should reflect the number of periods/months in your standard fiscal year.
For example:
Enter the number 12 if your fiscal year is for 12 months.
Enter the beginning and ending dates for the fiscal year you are setting up. Do not enter the calendar year begin and end dates, unless your fiscal year and the calendar year are the same.
Example:
Year Begin 07/01/2011
Year End 06/30/2012
Leave this field blank, unless you are extending your fiscal year. To extend the fiscal year, enter a new extended end date in this field in a mmddyy or mmddyyyy format.
Note: If you enter an extended date, then accounting periods should be added into the grid for the extended time.
Enter the number of active periods or use the up and down arrows to scroll to the number of active periods.
Active periods should be changed to the correct number if you extend your fiscal year.
Enter the number or use the up and down arrows to indicate your current accounting period. This would be the period currently being updated.
Enter the number or use the up and down arrows to indicate your current reporting period. This period may be the same as or different from the current period.
This button is used when setting up an accounting period/fiscal year or for adding a new fund accounting period.
This button allows the user to enter the information at the top of the view, save and then select auto create to fill in the grid information automatically.
The dates used in this process are automatically set to begin on the first day of the month and end on the last day of the month. The only way to set different start and end dates is to manually enter or select every start and end date you want to use. For example if your accounting period began on the 15th of the month and ended on the 14th you would have to type in all the period information.
The accounting period grid displays the period numbers, beginning and ending dates and the monthly description.
The Lock Mode column will display one of the following:
Periods may be opened or locked by double clicking in the Lock Mode field and selecting the appropriate mode. All columns may be locked using the End Year Process to close a fiscal year.