Financial periods (GL201000)
By using this window, you can generate financial periods for a new financial year, activate a financial period, or delete a financial period that has no transactions posted. You can also view the status of a period in the Customer ledger, Supplier ledger and General ledger workspaces.
By default, when you open this window, it displays the data of the current year.
To initially configure a financial year and its periods, use the Financial year (GL101000) window.
The window toolbar
The window toolbar includes standard and window-specific buttons.
| Button | Description |
|---|---|
| Generate periods | Generates financial periods for the specified year in accordance with the settings in the Financial year (GL101000) window. If a new financial year has just been activated, all financial periods will be generated. If some of the financial periods for the current year had been generated earlier, only the rest of the periods for this year will be generated. |
| Reopen period | Open a dialog where you can select what workspace you want to reopen. The General ledger will always be reopened if it is closed when you select another workspace. The dialog: This will open the general ledger and other selected workspaces for the chosen and subsequent periods. Reopen from period PP-YYYY
If you try to reopen a period in which all workspaces are open, you will get the message Financial Period ‘09-2024’ is already opened. |
| Add year before the first | Adds a financial year before the currently first year, for which you can then generate financial periods. The button is displayed if you have clicked the Shift the first year button in the Financial year (GL101000) window. |
The top part
In this area, you can add a new financial year or select an existing year to view its periods.
| Element | Description |
|---|---|
| Financial year | The financial year. To view a past year, select it from the list of financial years. To open a new year, type it directly into the field. |
| Start date | A read-only field that displays the date when the financial year starts. |
| Number of periods | A read-only field that specifies the total number of periods in the year. |
| User defined periods | A check box that you select to enable modification of the periods of the current year. You can edit the end dates of periods; the start dates of the periods will adjust automatically. If, after modification of the periods, the last period ends on a different date than the financial year does, when you save your changes, the system opens the Update financial year dialog box where you can select a method to update the end of the year. You can select one of the following options:
Also, you can select whether to move the start date of a financial period to another day of the week. |
You can also select whether to move the start date of a financial period to another day of the week.
The table
In this table, you can view the list of financial periods for the selected financial year. The total number of periods and their start and end dates are defined in the Financial year (GL101000) window.
You can modify the financial periods for the current financial year if needed. To do this, select the User-defined periods check box. You can only change the last financial year; if next year is created, you can delete this if there are no transactions.
You cannot delete a financial period if journal transactions associated with the period are released.
When you have selected User-defined periods and are working on setting up the year, the financial periods must have consecutive numbers; that is why each time you want to delete a period, you can delete only the last period.
Later, you can add missing periods when they are needed.
NOTE: Modifying financial periods is highly inadvisable because it will cause errors in all budgets and reports that compare data from two or more successive years.
| Column | Description |
|---|---|
| Period no. | The two-digit unique ID of the period within a financial year. This number, automatically generated by the system, represents the order of the period: 01 is the first period, 02 is the second period, and so forth. |
| Period | The unique ID of the financial period. The value is automatically generated by the system as a combination of the financial year and the period number. |
| Start date | The date when the financial period starts. This date is automatically calculated based on the settings provided in the Financial year (GL101000) window. |
| End date | The date when the financial period ends. This date, too, is automatically calculated based on the settings provided in the Financial year (GL101000) window. |
| Length (days) | The length of the period in days. This column is available only if the User defined periods check box is selected. |
| Description | The description of the financial period (such as the name of the month or the number of the quarter). This value is set in the Financial year (GL101000) window but can be overwritten. > [!NOTE] > This field supports the multi-language functionality, where you can translate the entered text to multiple languages. For more information, see: About multi-language support |
| Adjustment period | A check box that indicates (if selected) that the adjustment period is active and available for posting adjustment transactions. This column is available only if the User defined periods check box is selected. |
| Active | A check box that indicates (if selected) that the period can be used for posting transactions. Open but inactive periods can be used only for budgets. |
| Closed in Supplier ledger | A read-only check box that indicates (if selected) that the financial period is closed in the Supplier ledger workspace; if this check box is cleared, the period is active in the Supplier ledger workspace. |
| Closed in Customer ledger | A read-only check box that indicates (if selected) that the financial period is closed in the Customer ledger workspace; if this check box is cleared, the period is active in this workspace. |
| Closed in Inventory management | A read-only check box that indicates (if selected) that the financial period is closed in the Inventory workspace; if this check box is cleared, the period is active in the workspace. |
| Closed in General ledger | A read-only check box that indicates (if selected) that the financial period is closed in the General ledger workspace; if this check box is cleared, the period is active in the General ledger workspace. |
| Closed in Cash management | A read-only check box that indicates (if selected) that the financial period is closed in the Cash management; if this check box is cleared, the period is active in this workspace. |
| Closed in Fixed assets | A read-only check box that indicates (if selected) that the financial period is closed in the Fixed assets workspace; if this check box is cleared, the period is active in the Fixed assets workspace. |
| Reopened by user | This field contains the username of the last user who reopened the period. |
| Reopened date/time | This field contains the last date and time the reopening was done. |
Parent topic:
General ledger windows - overview
Related reference