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finance:tables:districtfinanceoptions:accountingperiods
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Accounting Periods - FIN2100

Finance > Tables > District Finance Options > Accounting Periods

The following accounting periods are displayed: current (open), next, Purchasing, Accounts Receivable, and Travel.

  • The Current (Open) Accounting Period field is the period not yet closed. After running end-of-month processing, the current period is incremented by one. This feature prevents anyone from posting back to the closed period.
  • When you log on to the Finance application, the value in the Current (Open) Accounting Period field is used as the default accounting period for posting.
  • You cannot switch accounting periods (i.e., current or next) unless you have security access to do so. If the period is set to blank, no one can post any transactions.

Modify a record:

Field Description
Current (Open) Accounting PeriodType the current accounting period. The field is a two-digit number from 01-12.
Next Accounting Posting PeriodType the next accounting period. The field is a two-digit number from 01-12. The period must be the same as or one month greater than the current accounting period.
Purchasing Accounting PeriodType the Purchasing accounting period. The field is a two-digit number from 01-12. The period can be the same as the current accounting period or the next accounting posting period.
Accounts Receivable PeriodType the Accounts Receivable accounting period. The field is a two-digit number from 01-12. The period can be the same as the current accounting period or the next accounting posting period.
Travel Accounting PeriodType the Travel accounting period. The field is a two-digit number from 01-12. The period can be the same as the current accounting period or the next accounting posting period.
Lock Current Accounting Period

Select to close the current accounting period. If selected, users can no longer post to the current accounting period. By default, Lock Current Accounting Period is not selected.

When Lock Current Accounting Period is selected, users are restricted from posting in the current accounting period. Posting is allowed in the next accounting period if the next accounting period is opened prior to closing the current accounting period.

Note: It is recommended that posting in the current accounting period is restricted during the end-of-month closing process to ensure accurate balance updates.

If the field is selected and you attempt to change the accounting period on the Change Account Period page, a message is displayed indicating that the current period is flagged as locked and the next accounting period should be used for posting.

If you attempt to enter the current accounting period (e.g., check processing or current year amendment posting), a message is displayed indicating that the current period is flagged as locked.

You do not have to select Lock Current Accounting Period when performing end-of-month processing.

If working on a stand-alone system, select Lock Current Accounting Period to lock the current accounting period.

If working on a network, select Lock Current Accounting Period to lock the current accounting period. The Lock Current Accounting Period pop-up window opens with a list of users currently logged on to ASCENDER. Do the following:

Click OK to continue closing the current accounting period. If other users are logged on, a message is displayed indicating that more than one user is logged on and asks if you want to continue.
Click Yes. Both of the pop-up messages are closed, and Lock Current Accounting Period is selected.
Click No. The pop-up message closes.
Click Cancel to close the pop-up message without locking the accounting period.
To reopen the current accounting period, clear the Lock Current Accounting Period field.

Accounting PeriodType a warehouse accounting period for each warehouse listed. The field is a two-digit number from 01-12. The period can be the same as the current accounting period or the next accounting posting period.

❏ Click Save.

Other functions and features:

Retrieve

The Retrieve button is also used to retrieve information from the last save. If you click Retrieve, any unsaved changes are lost.

Print

Click to print the report. The following Account Code Table options are displayed:

Current Tab Page - prints only the tab page currently open.
Selected Account Code Tables - displays the following options:

Finance Options
Accounting Periods
Clearing Funds

All Option Tables - prints all the Finance Options tab pages.
Select an option, and then click OK to view a copy of the report. Otherwise, click Cancel to return to the tab.

Review the report.

finance/tables/districtfinanceoptions/accountingperiods.txt · Last modified: 2021/06/29 18:48 by emoreno

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