Overview of Configuring Periods

Periods are associated with reconciliations and determine the as-of date of the reconciliation.

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.

A period can be associated with multiple calendars – one base calendar and one or more custom calendars. When multiple calendars are configured for a period, the start and end dates of the periods within a particular calendar cannot overlap. However, the start and end dates can overlap across calendars.

Methods of Defining Periods

Use one of the following methods to define periods:

• Manually configure periods (see Creating Periods)
• Bulk import periods using a file (see Importing Multiple Periods from a File). This method is useful when defining large numbers of periods, including daily periods.

Working with Large Lists of Periods or Daily Periods

You may have a need to create and manage large lists of periods or daily periods in Account Reconciliation. Here's how Account Reconciliation makes it easy to work with multiple periods:

• Create large lists of periods (for example, for 5 or 10 years), and use period filter capability to filter by date, status, or frequency

• Support daily reconciliations by allowing easy creation of daily periods

• Allow bulk uploading of periods instead of requiring manual configuration