Understanding the Effect of Closing an Accounting Period

When you close an accounting period, the system updates the Company Constants table (F0010) with the new accounting period and resets the date that it uses for date editing purposes. If you create entries outside the current fiscal period, you receive a warning or error. Review the possible warning and error messages:

• PBCO (Post Before Cut Off): Entries created in a closed period.

• PACO (Post After Cut Off) : Entries created in a future period.

• WACO (Post Way After Cut Off): Entries created in a future year.

• PYEB (Period Year-End Balance): Entries in a prior closed year.

A general accounting constant specifies whether entries can be posted to a closed period (PBCO).