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| xsi:schemaLocation="http://docbook.org/ns/docbook ../../../content/dtd/docbook.xsd" |
| xmlns="http://docbook.org/ns/docbook"> |
| <title>The Time Periods help screen</title> |
| <para>Time periods are a defined period of time (usually a month, |
| quarter or year) that is used to group business transactions. It is a |
| key part of any general accounting setup.</para> |
| <para>Time periods can be used for the definition of :</para> |
| <itemizedlist> |
| <listitem> |
| <para>Company Financial Year</para> |
| </listitem> |
| <listitem> |
| <para>Fiscal / Tax Periods (weeks, months, quarters)</para> |
| </listitem> |
| <listitem> |
| <para>VAT / GST Periods</para> |
| </listitem> |
| <listitem> |
| <para>Sales Periods</para> |
| </listitem> |
| </itemizedlist> |
| <para>The screen is divided into 3 main areas. The first two show lists |
| of the open and closed time periods. The area at the bottom allows you |
| to define and enter a new time period.</para> |
| <section> |
| <title>How do I add a new Financial Year time period?</title> |
| <orderedlist> |
| <listitem> |
| <para>Using the area at the bottom of the screen labelled 'New' |
| </para> |
| </listitem> |
| <listitem> |
| <para>Leave the Parent Period Id field blank (NOTE: The financial |
| year will be the parent of other time periods eg fiscal months or |
| GST / VAT periods)</para> |
| </listitem> |
| <listitem> |
| <para>Select 'Fiscal Year' from the 'Period Type Id' drop down box |
| </para> |
| </listitem> |
| <listitem> |
| <para>Enter '13' in the Period Num field (NOTE: You can use any |
| number that does not conflict with the other time periods you want |
| to use. We plan to define 12 fiscal or tax months so will use 13 |
| for the year)</para> |
| </listitem> |
| <listitem> |
| <para>Enter 'FY 2010-2011' in the Period Name field (NOTE: You can |
| use any name you want but make sure it makes sense. This example is |
| an abbreviation for Fiscal Year 2010-2011)</para> |
| </listitem> |
| <listitem> |
| <para>Select '1st April 2010' using the calendar lookup in the 'From |
| Date' field</para> |
| </listitem> |
| <listitem> |
| <para>Select '1st April 2011' using the calendar lookup in the 'Thru |
| Date' field (NOTE: Even though we want our financial year to end on |
| 31st March 2011 the test used is based on less than not an equal |
| to)</para> |
| </listitem> |
| <listitem> |
| <para>Leave the 'Is Closed' field at its default of 'No'</para> |
| </listitem> |
| <listitem> |
| <para>Press the 'Create' button</para> |
| </listitem> |
| <listitem> |
| <para>The new time period will now be displayed in the list of open |
| time periods.</para> |
| </listitem> |
| </orderedlist> |
| </section> |
| <section> |
| <title>How do I add a new GST/ VAT time period?</title> |
| <orderedlist> |
| <listitem> |
| <para>Using the area at the bottom of the screen labelled 'New' |
| </para> |
| </listitem> |
| <listitem> |
| <para>Select the previously created financial year 'FY 2010-2011' in |
| the Parent Period Id field</para> |
| </listitem> |
| <listitem> |
| <para>Select 'Fiscal Month' from the 'Period Type Id' drop down box |
| </para> |
| </listitem> |
| <listitem> |
| <para>Enter '1' in the Period Num field (NOTE: This is the first of |
| 12 periods that we want to define.) </para> |
| </listitem> |
| <listitem> |
| <para>Enter 'FM April 2010' in the Period Name field (NOTE: You can |
| use any name you want but make sure it makes sense. This example is |
| an abbreviation for Fiscal Month April 2010)</para> |
| </listitem> |
| <listitem> |
| <para>Select '1st April 2010' using the calendar lookup in the 'From |
| Date' field</para> |
| </listitem> |
| <listitem> |
| <para>Select '1st May 2010' using the calendar lookup in the 'Thru |
| Date' field (NOTE: Even though we want our fiscal month to end on |
| 30th April 2010 the test is used is based on less than not an equal |
| to)</para> |
| </listitem> |
| <listitem> |
| <para>Leave the Is Closed field at its default of 'No'</para> |
| </listitem> |
| <listitem> |
| <para>Press the 'Create' button</para> |
| </listitem> |
| <listitem> |
| <para>The new time period will now be displayed in the list of open |
| time periods.</para> |
| </listitem> |
| </orderedlist> |
| </section> |
| <section> |
| <title>How do I update a time period?</title> |
| <para>NOTE: Time periods cannot be updated via the current time |
| periods screen. If you need to amend time period details then it can |
| be done via Entity Data Maintenance in the Webtools menu.</para> |
| </section> |
| <section> |
| <title>How do I close a time period?</title> |
| <orderedlist> |
| <listitem> |
| <para>To close a time period select the 'Close' button next to the |
| time period.</para> |
| </listitem> |
| <listitem> |
| <para>The time period will be removed from the current open time |
| periods area and re-displayed in the closed time periods section of |
| the screen.</para> |
| </listitem> |
| </orderedlist> |
| <para>NOTE: Closing a time period is a trigger for an automatic |
| accounting transaction as follows:</para> |
| <itemizedlist> |
| <listitem> |
| <para>Transaction Type: Period Closing</para> |
| </listitem> |
| <listitem> |
| <para>DR ?????? (based on the GL account type mapping for Profit |
| Loss) </para> |
| </listitem> |
| <listitem> |
| <para>CR 336000 Retained Earnings (based on GL account type mapping |
| for Retained Earnings)</para> |
| </listitem> |
| </itemizedlist> |
| <para>NOTE: Both sides of this accounting transaction uses the same GL |
| account type default mapping. The account mapping for 'Profit Loss' |
| is not setup as part of the demo data so this transaction will not |
| automatically post to the general ledger but will instead be put in |
| the ERROR_JOURNAL as an unposted transaction. The transaction value |
| is zero for both sides of journal...Even if it does have a value do |
| we want to move it from P and L to Equity during the financial year? |
| Normally this is done once at the end of the financial year.</para> |
| </section> |
| </section> |