Opening and Closing an Accounting Period

To open an existing Accounting Period (AP), perform the following: TIme Entry > Actions > Open Accounting Period.

Open_Accounting_Period.png

 

The Open Week Utility will appear. Here you can select an accounting period to open. To do so, click on a Book icon in the "Open" column for the AP you want.

Open_Week_Utility.png

You cannot open an accounting period that already has a status of open.

 

After opening an accounting period, a message will appear, stating that the AP is now open. Click OK.

You should now be able to select the AP you want from the Accounting Period dropdown list in the Time Entry screen. After this, you can Create Transactions, Show SheetView, Show CardView, or Show Batch Form.

To review the Time Entry options, click here: Time Entry - Home

 

 

Closing an Accounting Period

Once you have completed creating or modifying transactions, close the accounting period using these steps:

1. Go to Back Office > Weekly Process.

Weekly_Process.png

2. Select the AP from the Accounting Period drop-down list.

3. Click the Close Accounting Period button. A dialog will appear asking if you are sure.

AP_Close_Confirmation.png

5. If you are, click Yes. The AP will be closed. A dialog will appear asking if you wish to open the next one.

5b. If you click No, the AP will remain open.

AP_Closed.jpg

6. If you click Yes, you can continue to manage open accounting periods.

6b. If you click No, the AP's will not be available in the Weekly Process drop-down list. To re-access your AP's, return to Time Entry and click Open Accounting Period to open the next AP.

 

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