Opening Periods

Reconciliations in a period are Pending until the period status becomes Open. When an administrator changes the status to Open, auto-reconciliations that have met their start date are run.

If balances are not loaded for a reconciliation, or if the reconciliation contains transactions, auto-reconciliation is skipped for that reconciliation, the reconciliation status changes to Open with Preparer, and a notification is sent to the preparer.

If auto-reconciliation fails for a reconciliation (for example, the account balance is not zero for an account authorized for zero balance auto-reconciliation), the reconciliation status changes to Open with Preparer, and a notification is sent to the preparer.

For manual reconciliations that have met the start date, status becomes Open with Preparers and notifications are sent to preparers.

To open one or more periods:

  1. From Home, select Application, then Configuration, and then Periods.

  2. Select one or more periods.

    Note:

    You can use the filter bar to narrow the list of periods if you are working with large lists of periods. See Filtering the Periods List
  3. Use the Set Status drop down list, and then select Open.