Manage Financial Periods
Form ID: (GL503000)
You can use this form to manage financial periods in the system. A period can be closed in the general ledger only if it has been closed in the cash management, accounts payable, accounts receivable, inventory, and fixed assets subledgers. When you close a given financial period, all preceding periods will also be closed if they have not already been closed. For more details, see Closing Financial Periods: General Information.
By default, posting transactions to closed periods is not allowed. If you want to give particular users the ability to post to closed periods, assign these users to the Financial Supervisor role on the User Roles (SM201005) form. Alternatively, you can clear the Restrict Access to Closed Periods check box on the General Ledger Preferences (GL102000) form to give all users the ability to post to closed periods.
If the GL Anomaly Detection feature is enabled on the Enable/Disable Features (CS100000) form and the company has the Use for Anomaly Detection check box selected on the Companies (CS101500) form, when you are closing a financial period, the system checks whether all the transactions in the selected company and period have been sent for analysis on the Analyze Accounting Transactions (GL510000) form. If at least one transaction has not been sent for analysis, the system will display a warning message.
Form Toolbar
The form toolbar includes standard and form-specific buttons and commands. For the list of standard buttons, see Form Toolbar and More Menu. The form-specific commands are listed in the following table.
| Button | Description |
|---|---|
| Process | Initiates the processing of the selected financial periods (that
is, those for which the unlabeled check boxes are selected in the
table). The specific processing that occurs is based on the action
you have selected in the Summary area of the form. Note:
The green OK icon appears in the form toolbar if the closing or
reopening operation was completed successfully. The red icon
indicates that the operation failed to complete successfully,
because required conditions were not met or an error
occurred. |
| Process All | Initiates the processing of all the financial periods listed in the table. The specific processing that occurs is based on the action you have selected in the Summary area of the form. |
| Unposted Documents |
Runs the required reports to find unposted documents for the selected financial periods (that is, the periods for which you have selected the Included check boxes in the table before invoking this action). The report also finds batches of GL transactions with the Pending Approval status if approvals are used for GL transactions. Once you have posted all of the documents flagged in these reports and approved or rejected the batches of GL transactions that were awaiting approval, you can close or lock these financial periods. These reports display unprocessed documents (if any) that prevent period closing or locking for the general ledger and all subledgers. When you invoke this action, each of the following reports opens on a separate page in a new tab: Unreleased AP Documents (AP656100), Unreleased AR Documents (AR656100), Unreleased CA Documents (CA656100), Unreleased FA Documents (FA651100), Non-Depreciated Fixed Assets (FA652000), Unposted GL Documents (GL656100), and Unreleased IN Documents (IN656600) reports. |
Selection Area
You use the elements in this area to specify what action the system should perform on the financial periods you select for a specific company (which you can select as well). You can also select the date range (in financial years) of the periods to be listed in the table.
| Element | Description |
|---|---|
| Company |
The company for which you want to perform the selected action with the selected financial periods. By default, the current company is selected. This box appears on the form when the Centralized Period Management feature is disabled on the Enable/Disable Features (CS100000) form. When the feature is enabled, the action you select applies to the periods in all companies. |
| Action |
The action that will be performed if you process the financial periods selected in the table. Select one of the following options:
For details, see Master Calendar Generation. |
| From Year | The starting financial year whose financial periods should be
listed in the table and available for processing with the selected
action. For the Open, Close, and Lock actions, this box shows the earliest year to whose periods the action can be applied; in this case, the year cannot be changed. |
| To Year | The ending financial year whose financial periods should be
listed in the table and available for processing with the selected
action. For the Deactivate, Reopen, and Unlock actions, this box shows the latest year to whose periods the action can be applied; in this case, the year cannot be changed. |
| Reopen Financial Periods in All Modules |
A check box that specifies (if selected) that financial periods will be reopened in all modules (Accounts Payable, Accounts Receivable, Inventory, Cash Management, and Fixed Assets). This check box appears on the form when the Reopen action is selected in the Action box. |
Table
The table displays the financial periods from the selected year range to which the selected action is applicable.
The table toolbar includes only standard buttons. For the list of standard buttons, see Table Toolbar.
| Column | Description |
|---|---|
| Included | An unlabeled check box that you select to include this financial
period in the processing of the action or the reporting of unposted
documents when you click Process or
Unposted Documents, respectively. For the Open, Close, and Lock actions, if you select any period except the first, the system automatically selects all previous periods listed. For the Deactivate, Reopen, and Unlock actions, if you select any period except the last, the system automatically selects all listed periods after this one. |
| Financial Period ID | The identifier of the financial period. |
| Description | The description the financial period. |
| Status |
The status of the financial period. A financial period can have one of the following statuses:
For more information about the statuses of periods, see Master Calendar Generation. |
| Closed in AP | A read-only check box that indicates (if selected) that the financial period is closed in the accounts payable subledger; if the check box is cleared, the period is open in the subledger. |
| Closed in AR | A read-only check box that indicates (if selected) that the financial period is closed in the accounts receivable subledger; if the check box is cleared, the period is open in the subledger. |
| Closed in IN | A read-only check box that indicates (if selected) that the financial period is closed in the inventory subledger; if the check box is cleared, the period is open in the subledger. |
| Closed in CA | A read-only check box that indicates (if selected) that the financial period is closed in the cash management subledger; if the check box is cleared, the period is open in the subledger. |
| Closed in FA | A read-only check box that indicates (if selected) that the financial period is closed in the fixed assets subledger; if the check box is cleared, the period is open in the subledger. |