Accounting Period

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

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

Accounting Period 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