Working with Accounting Periods (WACP)

Purpose: Use the Accounting Periods function to define your fiscal calendar. Specifically, use this function to:

• add or maintain accounting periods and their descriptions

• assign accounting periods to a year

• indicate the start date and end date of the period

Transactions post to the accounting period in which they occur, even if your accounting department has not closed the previous accounting period.

In this topic:

• Work with Accounting Periods Screen

• Create/Change/Display Accounting Period Screen

• Changing Accounting Periods

• Displaying Accounting Periods

Work with Accounting Periods Screen

How to display this screen: Select Work with Accounting Periods from a menu or enter WACP in the Fast Path field at the top of any menu.

Field	Description
Year	Year when the accounting period occurs. Numeric, 2 positions (YY); optional.
Period	A 2-position code that represents the accounting period. Alphanumeric, 30 positions; optional.
Desc (Description)	The description of the accounting period. Alphanumeric, 3 positions; optional
Start	The date when the accounting period begins. Numeric, 6 positions (MMDDYY); optional.
End	The date when the accounting period ends. Numeric, 6 positions (MMDDYY); optional.

Note: The options on this screen function somewhat differently from other screens. See the table below for details.

Screen Option	Procedure
Create an accounting period	Select Create to advance to the Create/Change/Display Accounting Period Screen in create mode.
Change accounting period information	Select Change from the Action column on the left to advance to the Create/Change/Display Accounting Period Screen in change mode.
Delete an accounting period	Select Delete from the Action column on the left to delete an accounting period.
Display an accounting period	Select Display from the Action column on the left to advance to the Create/Change/Display Accounting Period Screen in display mode.
Close an accounting period for A/R as of the current date	Select Close A/R after selecting More... from the Action column on the left to close the period for A/R.
Close an accounting period for A/P as of the current date	Select Close A/P after selecting More... from the Action column on the left to close the period for A/P.
Close an accounting period for G/L as of the current date	Select Close G/L after selecting More... from the Action column on the left to close the period for G/L.

Create/Change/Display Accounting Period Screen

Purpose: Use this screen to create, change, or display an accounting period.

How to display this screen: Select Create at the Work with Accounting Periods Screen, or select Change or Display from the Action column on the left. See Changing Accounting Periods and Displaying Accounting Periods for information on available options in change and display modes.

Field	Description
Year	The year when the accounting period occurs. Numeric, 2 positions (YY). Create mode: required. Change mode: display-only.
Period	A 2-position code that represents the accounting period. Numeric, 2 positions. Create mode: required. Change mode: display-only.
Description	The description of the accounting period (e.g., JAN, FEB, Q1, Q2). Alphanumeric, 3 positions; required.
Start date	The date the accounting period begins. Numeric, 6 positions (MMDDYY); required.
End date	The date the accounting period ends. Numeric, 6 positions (MMDDYY); required.
Actual A/R close date	The A/R closing date for the period. Numeric, 6 positions (MMDDYY); display-only.
Actual A/P close date	The A/P closing date for the period. Numeric, 6 positions (MMDDYY); display-only.
Actual G/L close date	The G/L closing date for the period. Numeric, 6 positions (MMDDYY); display-only.
Trans posted flag	This flag is currently not implemented.

Changing Accounting Periods

To change: Select Change for an accounting period from the Action column on the left at the Work with Accounting Periods Screen to advance to the Create/Change/Display Accounting Period screen in change mode. You cannot change the year, period, actual A/R, A/P, or G/L close date fields. The information you can change varies depending on whether transactions have posted to the period:

• If no transactions have posted to the period, you can change the Description, Start date and End date. In this case, the Trn field at the Work with Accounting Periods Screen and theTrans posted flag field at the Create/Change/Display Accounting Period screen are set to N.

• If transactions have posted to the period, you can change only the description. In this case, the Trn flag at the Work with Accounting Periods Screen and the Trans posted flag flag at the Create/Change/Display Accounting Period screen are set to Y.

Displaying Accounting Periods

To display: Select Display for an accounting period from the Action column on the left at the Work with Accounting Periods Screen to advance to the Create/Change/Display Accounting Period screen in display mode. You cannot update any information.