Accounting Period

Accounting Periods

Regular, pre-determined periods of time for which a financial statement is produced.

Tip: All financial transactions within each Accounting Period are reviewed and recognized on your General Ledger. After all of the revenue is recognized and adjustments are made, the financials are closed within that period. Unlike a Batch, Accounting Periods are not exported after they have been closed.

Only the Find, List, Run Query, Query Central), group item links are available in the Accounting Period group item. Accounting Periods are added in the Fiscal Year group item.

To navigate to the Accounting Period group item, click (or hover over) the Group Item Overflow menu and select Accounting Period.

Managing Records

Reports & Process

Reports

• Deferral Revenue Available for Recognition (Form) Report
• Revenue recognized
• Cost of goods sold validation
• Cost of goods sold

Process

• Post multiple batches

Actions Bar

The Accounting Period Profile Actions Bar contains the icons to Close Period:

• Preprocess the accounting period records
• Correct exceptions
• Recognize deferred revenue
• View inventory transactions
• Close a batch
• Post a batch
• Close the accounting period