Configuring Periods

Next you configure the number of periods associated with the reconciliations. Periods determine the as-of date of the reconciliation and every period has a start date, end date, and close date. Periods also have associated frequencies. When profiles are added to periods, only those with a frequency matching a frequency associated with the period are added to the period as a reconciliation.

If circumstances require changes to reconciliations, or if administrators must import updated balances, administrators can reopen periods.

You can start with just one or two periods, and then add periods as needed. For each period, you’ll define start and end dates, as well as the dates that books are closed for each period and the frequencies associated with each period.