Understanding Open Period Control

Open period control is used for transactions that are imported into Project Costing from interfacing applications, for transaction adjustments, and for transactions that you add through the Add Transactions functionality in Project Costing. If you use open period control in Project Costing and the accounting date on transactions that you import from other applications falls outside of the open periods that you define for Project Costing, the system modifies the accounting date on the Project Transaction table row so that it falls within the defined periods.

For open period accounting, when you enter a transaction in Project Costing through integration from other applications, the inbound Application Engine process triggers the Accounting Date Validation Application Engine process (PC_DATE) to validate the accounting date. The process of entering transactions online in Project Costing also uses the Accounting Date Validation process to validate accounting dates. The Accounting Date Validation process determines if the accounting period is open or closed by looking up the calendar ID defined at the business unit level, and resets the accounting date, if necessary.

You create calendars at the SetID level by using the menu navigation Setup Financials/Supply Chain > Common Definitions > Calendars/Schedules.

See Understanding Accounting Calendars Based on Open and Close Periods.

Both the Process Project Accounting (PSA_ACCTGGL) and the Send to Asset Management (PC_AM) Application Engine processes do not validate open periods.

Example of Open Period Control

Assume that you enable open period control and select Projects as the open period source. When you use the PeopleSoft Payables feeder system to send transactions to Project Costing, the Payables to Project Costing Application Engine process (PC_AP_TO_PC) triggers the Accounting Date Validation process to validate the transactions against the Project Costing open period and reset the accounting date. This example contains two transaction rows. For both rows, the Payables to Project Costing process sends a Payables accounting date that is outside of the open period. The Accounting Date Validation process validates and updates the accounting date as shown in the column titled Project Transaction Table Accounting Date:

Project Costing Open Period	Payables Open Period	Payables Accounting Date	Project Transaction Table Accounting Date	Explanation
January 2006 to February 2006	January 2001 to December 2007	December 15, 2005	January 2, 2006	Payables accounting date is earlier than the first Project Costing open period date. The system resets the accounting date to the first work day of the first open period.
January 2006 to February 2006	January 2001 to December 2007	March 16, 2006	February 28, 2006	Payables accounting date is later than the last Project Costing open period date. The system resets the accounting date to the last work day of the last open period.