Accounting Periods

The system can track up to 99 periods per year.  This provides support for companies operating with;

      4 Periods per Year (Quarterly Accounting)

      12 Periods per Year (Monthly Accounting)

      13 Periods per Year (Monthly Accounting plus year end adjustment period)

      52 Periods per Year (Weekly accounting)

Multiple closing periods allow production of financial statements reflecting various stages of closing.

Additional periods can be added at any time should your needs change during the year.

Multiple years can be on line at any one time, limited only by disk space.  This allows reporting to be done over multiple periods, and across year boundaries.

The periods and years that individual operators or groups of operators may post transactions to can be restricted using records in the System Parameter file.

As account period records are created, the system uses a default Division and Department of one (1).  The system requires that a Department one (1) record exist for each account.  This is required to support the "flow though" function of the General Ledger.  "Flow through" is used in some programs in the system and it allows the system to automatically post activity based on the following algorithm: 

If an account is not found in the Department that the operator is in, the system checks for the account in Department 1 of the Division the operator is in and it posts to the account in department one.  This feature is useful when you wish to assign departments for sales reporting without requiring the same departments to be used in the financial accounting system.


Balance Sheet vs. Income Statement Accounts

Default Number of Accounting Periods