This chapter contains the following topic:
The Close a period selection enables you to clear the period-to-date Payment, Purchase, and Discount fields in Vendors. This will update the Vendors at the close of a period and clear current amounts.
The term period, as used here, is either your fiscal accounting period or another period of time. For example, you could follow the procedure described below and close A/P each week. In this case, the period-to-date figures on the reports listed would be weekly figures. Alternatively, you could close A/P once a quarter, in which case the period-to-date figures would be quarterly figures.
The reason that your A/P period need not correspond to your accounting period is that closing a period in A/P has no effect on the Passport Business Solutions General Ledger. The interface between A/P and G/L is through the G/L selection Get distributions, described in the General Ledger documentation. Refer also to the Distributions to G/Lchapter in this documentation.
The current period in A/P is determined by the Current period ending date in Control information.
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Note |
This function should not be run until all of this fiscal period’s business transactions have been posted and completed, and any fiscal period-ending reports have been printed. This program clears the current period-to-date purchases, payments, and discount amounts. |
You may also use this close selection to enter a new date entry period range. The use of this feature is determined by the Date control field in Control information. Date control was introduced because printing checks, AP Voucher distribution dates and Void check dates are prone to misinterpretation and incorrect entry. This feature provides a mechanism to restrict users to entering dates, which ultimately result in G/L transactions, to a specified a date range. The use of this feature would substantially increase the security against accidental incorrect entry of distribution dates. Do not run close a period unless it is the correct time. If you need to change the date entry range and not close the period do so in A/P Control information.
Select
Close a period from the Accounts Payable menu.
Graphical Mode
The following screen appears:
Character Mode
The following screen appears:
Enter the following information:
Please enter the new period ending date
You can enter the new period ending date, or use the option:
Options
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<F2> |
For the same calendar date in the month following the current period ending date. The last day of the month remains the last day, even when the months have different lengths. |
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Format |
MMDDYY |
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Example |
(If you are using this manual as a tutorial, escape from the screen at this point to retain your demo data) |
Please enter the new starting entry date
This field will not display if you are not using the date entry controls.
Enter the new starting entry date, or use the option:
Options
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<F2> |
For the first day of the month following the month of current period ending date. |
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Format |
MMDDYY |
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Example |
(If you are using this manual as a tutorial, escape from the screen at this point to retain your demo data) |
Please enter the new ending entry date
This field will not display if you are not using the date entry controls.
Enter the new ending entry date, or use the option:
Options
|
<F2> |
For the same calendar date in the month following the current period ending date. The last day of the month remains the last day, even when the months have different lengths. |
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Format |
MMDDYY |
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Example |
(If you are using this manual as a tutorial, escape from the screen at this point to retain your demo data) |
If you entered a starting and ending date range that is not correct or if you want to change the range mid-period, you can manually change these dates at any time in A/P Control information. Do not close the period again to change this date range, unless it is the right time to do so.
Are you sure that all the necessary accounting operations, including the printing of reports, have been carried out? If yes, then select OK to proceed. If not, then select Cancel or <Esc> to return to the menu without closing the period.
No report is produced by this selection. You may print the full Vendors by vendor # or Vendors by vendor name report to see that the period to date fields are now all zero.
In character mode the program asks for Any change?.Answer Y to re-enter the screen or N to re-set the period-to-date fields in Vendors.
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Format |
One letter, either Y or N |
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Example |
Enter N |