The system allows a maximum of TWO open accounting periods, the current accounting period and the prior accounting period. When you sign-on to the system, if the current system date is greater than the current open period, the system automatically closes the oldest accounting period (if open) and opens the next available accounting period.
The system allows for thirteen accounting periods in the current year plus one temporary period in the next year. You must create new accounting periods for the new year at the end of the first accounting period of the new year.
To access the Accounting Periods window, select the menu option entitled Accounting Periods Control Files Menu.
The Accounting Periods window will be displayed as follows:
Enter or edit the information on the Accounting Periods window according the following specifications:
Current Period
When setting up a new company, enter the accounting period that will contain your first general ledger transactions. For example, if you start using the system in January, your accounting period should be December of the previous year. This will allow you to enter you balance sheet information for December. After the initial startup the Current Period field will be maintained by the system.
Period 1 -13
Open
Enter a check in the Open box if the accounting period is open. To place a check in the box, click on the Open box, or press the space bar when the selection box is positioned over the field. The system only allows two open accounting periods and the accounting period must be contiguous.
Start Date
Enter the start date for the selected accounting period. For example, enter January 01, 2002 as 010102. The system will record and display the date as 01/01/2002. The start date in one period must be contiguous with the end date of the previous period.
End Date
Enter the end date for the selected accounting period. For example, enter January 31, 2002 as 013102. The system will record and display the date as 01/31/2002. The end date must me greater than the start date.
Next Year
Enter a check in the box to open the first accounting period in the next year. To place a check in the box, click on the Next Year field, or press the Space Bar when the selection box is positioned over the field.
New Year
When you have entered all Forest Products Accounting (excluding General Ledger transactions) transactions for the previous year, you must create the accounting periods for the new accounting year. To create the new accounting periods, click on the New Year button, or press “Alt N”. The system requires you to perform this function by the start date of the second accounting period for the new year.
Rollover Period
To roll your accounting periods over in order to open the next accounting period, click the Rollover Period button. Make sure that everything is finished for the prior accounting period before initiating the rollover.
Auto Fill
After setting up the start and end dates for a new company, you can click the Auto Fill button to automatically complete the remaining accounting periods. The Auto Fill button does not appear after the accounting periods have been setup.
To save and exit the Accounting Period window, press Page Down, click on the OK button, or press “Alt O”. To exit without saving the Accounting Period window, click on the Cancel button, or click on the “X” in the upper right corner of the screen.
To access online help, click on the Help button, press “Alt H”, or press F1.
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