A fiscal year is Active until you change its status to inactive by clearing the Active option.
You can post to an active year, but not to an inactive one.
Select this option to allow posting to the fiscal year. Clear the option to prevent posting to the fiscal year.
The adjustment period is the period to which you can post year-end adjustments (such as depreciation or bad debts). The date of the adjustment period is always the last day of the last fiscal period.
A period is Unlocked until you change its status to Locked. Select Locked if you want to prevent accidental posting to the adjustment period.
The Locked Fiscal Periods option on the Company Profile window determines whether users will receive a warning, an error message, or no message when entering transactions in a locked fiscal period.
The closing period is the period to which revenue and expense accounts are closed at year-end. The date of the closing period is the last day of the last fiscal period.
A period is unlocked until you change its status to Locked. Select Locked if you want to prevent accidental posting to the closing period.
The Locked Fiscal Periods option on the Company Profile window determines whether users will receive a warning, an error message, or no message when entering transactions in a locked fiscal period.
For a 12-period ledger, the default end date of each period is the last day of the month. For a 13-period ledger, the default end date of each period is the last day of each four-week time span. You can change the end dates if necessary.
The current period of the company's fiscal calendar.
Select the fiscal year you need. The current year (from the session sign-on date) is displayed on the calendar.
The number of fiscal periods as selected in the Company Profile.
If you use a 13-period ledger, select the quarter that contains four fiscal periods, rather than three. Note that you can change this quarter later, although if you do, your previously printed reports may not be consistent with data printed after the change.
- For a 12-period ledger, the default start date of each period is the first day of the month.
- For a 13-period ledger, the default start date of each period is the first day of each four-week timespan.
You can change the start dates if necessary.
The status of a fiscal period on the calendar. By default, a period is unlocked so that you can post to it.
You can change the status of a fiscal period to Locked to protect against accidental postings. To change the status of a period, double-click the Status or press the Spacebar in the Status box.