30 Using 52 Period Accounting

52 period accounting helps businesses track perishable items in weekly accounting intervals. For example, grocery stores typically use 52 period accounting to report their financial status on a weekly basis. You can establish 52 accounting periods per year, plus two extra periods for adjustments.

This chapter contains the following topics:

30.1 Posting 52 Period Accounting Entries

This section provides an overview of the 52 Period Accounting Post program and discusses how to:

  • Run the 52 Period Accounting Post program.

  • Set processing options for 52 Period Accounting Post.

30.1.1 Understanding the 52 Period Accounting Post Program

The 52 Period Accounting Post program (R098011) selects transactions from the F0911 table and creates records in the F0902B table. You can run the 52 Period Accounting Post program from the General Ledger Post program (R09801) and use a processing option to specify which version to run.

30.1.1.1 Multithreaded Job Queues

If your system is set up for multithreaded job queues, you can simultaneously run more than one job for the 52 Period Accounting Post program. Subsequent jobs can be the same version or different versions of the same program. Running multiple jobs enables you to process a high volume of transactions more efficiently.

When you run multiple jobs, the 52 Period Accounting Post program checks the 52 Period Status field (52PP) in the F0011 table for each batch to ensure that no batch is processed more than one time. Therefore, it is not necessary for each job to have unique data selection.

A batch can have one of these statuses:

  • blank: The batch has not been reserved or processed by the 52 Period Accounting Post program. The system selects the batch and sets the flag to 1. Subsequent jobs ignore batches with status 1.

  • 1: The batch has been reserved or processed by the 52 Period Accounting Post program. The system skips the batch and moves on to the next one.

30.1.2 Running the 52 Period Accounting Post Program

Select Journal Entry, Reports, & Inquiries (G0911), General Ledger Post.

To run a single version of the 52 Period Accounting Post program, run the General Ledger Post program.

30.1.3 Setting the Processing Options for 52 Period Accounting Post (R098011)

Enter a version of the 52 Period Accounting Post program in the Versions processing option.

30.1.3.1 Versions Tab

This processing option specifies the version to run. If a version is specified, the system runs the program after the post program finishes.

52 Period Post Version

Specify the version of the 52 Period Accounting Post program to use to update the F0902 and F0902B tables. If you leave this processing option blank, the 52 Period Accounting Post program does not run and does not update the tables.

30.2 Closing a 52 Period Year

This section provides an overview of the Annual Close for 52 Period program and discusses how to:

  • Run the Annual Close for 52 Period program.

  • Set data selection for Annual Close for 52 Period.

30.2.1 Understanding the Annual Close for 52 Period Program

After you run the Annual Close program (R098201) at the end of a fiscal year, run the Annual Close for 52 Period program (R09820B). The Annual Close for 52 Period program updates the F0902B table with balances from the F0902 table. Specifically, the program updates these amounts:

  • Prior year-end net

  • Prior year-end cumulative

  • Beginning budget

  • Projected over/under

  • Percent complete

  • Projected final

  • Budget requested

  • Budget approved

  • Week-to-date

30.2.2 Prerequisite

Update the F0902 table by running the Annual Close program.

See Closing the Fiscal Year.

30.2.3 Running the Annual Close for 52 Period Program

52 Period Accounting (G09313), select Annual Close for 52 Period.

30.2.4 Setting Data Selection for Annual Close for 52 Period (R09820B)

For the data selection, set the fiscal year equal to the next fiscal year, not the fiscal year that you are closing. For example, if your current fiscal year is 07 (2007) and you want to close fiscal year 04 (2004), set the data selection for fiscal year to 07.

If the selection criteria for the Annual Close for 52 Period program and Repost for 52 Period (R0902B) program are the same, the results are the same, except that the Repost for 52 Period program also updates the 54 amount categories from the F0911 table.

30.3 Producing a 52 Period Income Statement

This section discusses how to:

  • Set data selection and data sequence for 52 Period Income Statement.

  • Set processing options for 52 Period Income Statement.

  • Generate the 52 Period Income Statement.

30.3.1 Prerequisites

Before you complete the tasks in this section:

  • Verify that you have set up automatic accounting instruction (AAI) items FSxx. These items establish the optimal interim totals on the income statement.

  • Verify that your 52-period financial reporting dates are set correctly.

30.3.2 Setting Data Selection and Sequence for 52 Period Income Statement

For the data selection, select the object accounts to include on the report. For example, if your profit and loss accounts begin with object account 5000, select Object Account GE (greater than or equal to) 5000. You must also specify a ledger type. If you do not, the system combines all of the ledger types, which do not provide the expected results.

The 52 Period Income Statement is designed to print in this sequence:

  • Company

  • Business unit report codes

  • Account master report codes

  • Business unit

  • Object account

  • Subsidiary

The data selection and data sequencing for the 52 Period Income Statement are the same as those for the Simple Income Statement for 12- to 14-period accounting.

See Setting Data Selection for Simple Income Statement.

30.3.3 Setting Processing Options for 52 Period Income Statement (R10252)

Processing options enable you to specify the default processing for programs and reports. For the 52 period reporting date to be for a specific company, you must set the data sequence for this program by company or by business unit.

Period Number

Enter the period number the report is to be based on. If you leave this processing option blank, the 52 period financial reporting period is used.

Fiscal Year

Enter the fiscal year the report is to be based on. If you leave this processing option blank, the 52 period financial reporting period is used.

Account Level of Detail

Enter the account level of detail to be used when the option for level of detail processing is selected.

30.3.4 Generating the 52 Period Income Statement

52 Period Accounting (G09313), select 52 Period Income Statement.

Print the 52 Period Income Statement program (R10252) to produce an income statement and compare current period and year-to-date amounts with amounts for the same period in the prior year.