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Other scenarios in Annual Calendar Period
Other scenarios in Annual Calendar Period

1. Permanently Closed period 2. Create Adjustment period 3. View Document sequencing 4. Create Annual period

Escrito por Rubén Mosqueda Herrera
Actualizado hace más de una semana

1. Permanently close period

The option "Permanently close period" is used exclusively to prevent entering or posting journal entries to the period. You cannot reopen or change this period status.

You cannot reopen a permanently closed period.

If you want to perform a "Permanently close period" action to a period, follow the next steps:

Select the month, open the inline menu on the relevant month, select the option "Period actions", select the option "Permanently close period" and click on Accept.

2. Create adjustment period

The option "Copy period" allows you to create an "adjustment period" of the selected month. An adjustment period refers to any accounting period created to adjust balances prior to the closing period of the year.

The name of the period differentiates with the suffix "/ Adjustments", of the selected month.

A new line as been added to the end of the periods listing.

3. View document sequencing

In every monthly period, three type of policies are created: daily, income and expenses. For each policy the document number is generated according to the type of operation performed, therefore at any day of the month you can identify the subsequent policy number. To view this number click on the Next ">" button to search in the different policy types sections.

The sequence of a policy is located in the field "Next number".

4. Create Annual period

At the beginning of a new year it is mandatory to have created the calendar and its periods, in order to be able to perform any accounting operation. To create any annual period, follow these steps:

  1. Click on Create New Record

2. Enter year

3. Enter Description

4. Save

5. To create periods, click context menu of this year and select Create Standard Periods.

Now periods will be automatically filled from calendar. You can open any of these periods by repeating the opening period process in context menu.

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