Open Period

Open period for receipt accrual transactions is the allowable open date range for accounting entry creation and for budget checking transactions if you are using commitment control. If the accounting date falls within the open period date range, the system posts the accounting entry to the actuals ledger. If the transaction budget date falls before or after the open period date range, the system provides an error or warning message to prevent or warn you from running budget checking.

Open period for requisition or purchase order transactions is the allowable open date range for budget checking transactions when you are using commitment control. If the transaction accounting date falls before or after the open period date range, the system provides an error or warning message to prevent or warn you from running budget checking.

When running budget checking, the system translates the accounting date to a fiscal year and accounting period in the budget ledger.

If you are using commitment control, the system sets open period checking to issue errors as a default. You can activate or override open period checking for PeopleSoft Purchasing on the Purchasing Options page. You enter the open period date range according to general ledger business unit on the Update Open Period page.

The system validates the open period for requisitions, purchase orders, procurement cards, requisition and Buyer's Workbench (for cancel and close), batch reconciliation processes, and receipt accrual transactions.