This chapter contains the following topics:
Introduction to Period and Year End
Use this function to close each period. You will probably do this at the end of each fiscal month, although you may use other time periods (e.g. quarter). This program performs the following procedures:
| • | Resets Period-To-Date usage in the Work Center records. |
| • | If you tell the program the period being closed is also your year end, resets Work Center Year-To-Date usage statistics after moving those numbers into Last Year values. |
| • | Period-To-Date values and, at year end, Year-To-Date values are set to zeros, or to any amounts already accumulated for the Next Period. Transactions dated after the Current Period End Date are posted to Next Period values in the file/table, until you close the current period. |
| • | Resets the Current Period End Date in S/F Control information. |
Select
Period & year end from the S/F menu.
The following screen displays:
When you select this program the following message is displayed:
Closing out the period ending on
MM/DD/YY
This function clears out accumulated Period-To-Date values in the Work Center File and replaces them with any values already accumulated for the new period.
MM/DD/YY is the "Current period end date" from S/F Control Information. You are prompted to enter:
1. Is MM/DD/YY also your year end date ?
Entry Format: Y or N.
2. The ending date for the new period is
Entry Format: 6 numeric digits, in MMDDYY format.
Comments: This entry sets the new Current Period End Date in S/F Control Information.