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.
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