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Manage Financial Periods

Form ID: (GL503000)

You can use this form to manage financial periods in the system. A period can be closed in the general ledger only if it has been closed in the cash management, accounts payable, accounts receivable, inventory, and fixed assets subledgers. When you close a given financial period, all preceding periods will also be closed if they have not already been closed. For more details, see Closing Financial Periods: General Information.

By default, posting transactions to closed periods is not allowed. If you want to give particular users the ability to post to closed periods, assign these users to the Financial Supervisor role on the User Roles (SM201005) form. Alternatively, you can clear the Restrict Access to Closed Periods check box on the General Ledger Preferences (GL102000) form to give all users the ability to post to closed periods.

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Back to TopForm Toolbar

The form toolbar includes the buttons described below.

Button Description
Process Initiates the processing of the selected financial periods (that is, those for which the unlabeled check boxes are selected in the table). The specific processing that occurs is based on the action you have selected in the Summary area of the form.
The green OK icon appears in the form toolbar if the closing or reopening operation was completed successfully. The red icon indicates that the operation failed to complete successfully, because required conditions were not met or an error occurred.
Process All Initiates the processing of all the financial periods listed in the table. The specific processing that occurs is based on the action you have selected in the Summary area of the form.
Unposted Documents Runs the required reports to find unposted documents for the selected financial periods (that is, the periods for which you have selected the Included check boxes in the table before invoking this action). The report also finds batches of GL transactions with the Pending Approval status if approvals are used for GL transactions. Once you have posted all of the documents flagged in these reports and approved or rejected the batches of GL transactions that were awaiting approval, you can close or lock these financial periods.
These reports display unprocessed documents (if any) that prevent period closing or locking for the general ledger and all subledgers. When you invoke this action, each of the following reports opens on a separate page in a new tab: Unreleased AP Documents (AP656100), Unreleased AR Documents (AR656100), Unreleased CA Documents (CA656100), Unreleased FA Documents (FA651100), Non-Depreciated Fixed Assets (FA652100), Unposted GL Documents (GL656100), and Unreleased IN Documents (IN656600) reports.

Back to TopSelection Area

You use the elements in this area to specify what action the system should perform on the financial periods you select for a specific company (which you can select as well). You can also select the date range (in financial years) of the periods to be listed in the table.

Element Description
Company The company for which you want to perform the selected action with the selected financial periods. By default, the current company is selected.
This box appears on the form when the Centralized Period Management feature is disabled on the Enable/Disable Features (CS100000) form. When the feature is enabled, the action you select applies to the periods in all companies.
Action The action that will be performed if you process the financial periods selected in the table. Select one of the following options:
  • Open: Changes the status of the selected financial periods (or all periods) from Inactive to Open.
  • Close: Changes the status of the selected financial periods (or all periods) from Open to Closed, if the period has no unposted documents.
  • Lock: Changes the status of the selected financial periods (or all periods) from Closed to Locked, if the period has no unposted documents.
  • Deactivate: Changes the status of the selected financial periods (or all periods) from Open to Inactive, if the period has no unposted documents.
  • Reopen: Changes the status of the selected financial periods (or all periods) from Closed to Open.
    • If the Restrict Access to Closed Periods check box is selected on the General Ledger Preferences (GL102000) form, this action is available only to users assigned to the Financial Supervisor role on the User Roles (SM201005) form.
  • Unlock: Changes the status of the selected financial periods from Locked to Closed.
    • If the Restrict Access to Closed Periods check box is selected on the General Ledger Preferences (GL102000) form, this action is available only to users assigned to the Financial Supervisor role on the User Roles (SM201005) form.
For details, see Master Calendar Generation.
From Year The starting financial year whose financial periods should be listed in the table and available for processing with the selected action.
For the Open, Close, and Lock actions, this box shows the earliest year to whose periods the action can be applied; in this case, the year cannot be changed.
To Year The ending financial year whose financial periods should be listed in the table and available for processing with the selected action.
For the Deactivate, Reopen, and Unlock actions, this box shows the latest year to whose periods the action can be applied; in this case, the year cannot be changed.
Reopen Financial Periods in All Modules A check box that specifies (if selected) that financial periods will be reopened in all modules (Accounts Payable, Accounts Receivable, Inventory, Cash Management, and Fixed Assets).
This check box appears on the form when the Reopen action is selected in the Action box.

Back to TopTable

The table displays the financial periods from the selected year range to which the selected action is applicable.

The table toolbar has only standard buttons.

Table Columns

Column Description
Included An unlabeled check box that you select to include this financial period in the processing of the action or the reporting of unposted documents when you click Process or Unposted Documents, respectively.
For the Open, Close, and Lock actions, if you select any period except the first, the system automatically selects all previous periods listed. For the Deactivate, Reopen, and Unlock actions, if you select any period except the last, the system automatically selects all listed periods after this one.
Financial Period ID The identifier of the financial period.
Description The description the financial period.
Status The status of the financial period. A financial period can have one of the following statuses:
  • Inactive
  • Open
  • Closed
  • Locked
For more information about the statuses of periods, see Master Calendar Generation.
Closed in AP A read-only check box that indicates (if selected) that the financial period is closed in the accounts payable subledger; if the check box is cleared, the period is open in the subledger.
Closed in AR A read-only check box that indicates (if selected) that the financial period is closed in the accounts receivable subledger; if the check box is cleared, the period is open in the subledger.
Closed in IN A read-only check box that indicates (if selected) that the financial period is closed in the inventory subledger; if the check box is cleared, the period is open in the subledger.
Closed in CA A read-only check box that indicates (if selected) that the financial period is closed in the cash management subledger; if the check box is cleared, the period is open in the subledger.
Closed in FA A read-only check box that indicates (if selected) that the financial period is closed in the fixed assets subledger; if the check box is cleared, the period is open in the subledger.

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