release13.07/applications/accounting/data/helpdata/HELP_ACCOUNTING_TimePeriods.xml

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<section xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
 version="5.0" xmlns:xl="http://www.w3.org/1999/xlink" xmlns:xi="http://www.w3.org/2001/XInclude"
 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>