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The Accounting Period master file is used to control the recording of journal entries in the books of account. To add journal entries in the books of accounts, you must first open an accounting period. Likewise,when an accounting period is finalized, you must close it to prevent further modification of entries. It is recommended to open and close an accounting period on a monthly basis.
Step-by-step instructions:
1. Open Cenral Menu. Your Central Menu maybe different from the screenshot below as each user can have different menu and access rights.
2. Select System->GL
3. Double-click Master Files -> Accounting Period. You will be redirected to Accounting Period tab window.
4. Update or add accounting period. The following columns must be filled up properly.
•AcctgYear refers to the accounting calendar year
•GLDateFr refers to the beginning date covered
•GLDateTo refers to the ending date covered
•GLDateStatus. Enter Open or Close to allow or disallow updating of journal entries in the books of accounts.
•Status. A=Active; I=Inactive.
5. Click Save. You can update this file from time to time.
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