Current Fiscal Period

Transactions to the General Ledger may be made to any of the fiscal periods with an Open status. One of the fiscal periods must be specified as the Current period. This is the period to which the Accounts Payable, Accounts Receivable, and Payroll Posting programs will automatically make their transactions. This period will also serve as the Default Period in other areas of the system. All transactions will be made to this period unless otherwise specified.

The Current fiscal period should be changed whenever transactions to a new fiscal period are made. Selecting the Current Fiscal Period option from the General Ledger Main Menu will cause the following screen to be displayed:

Enter the number of the period to be specified as the new Current Fiscal Period or press the lookup button. The Fiscal Period Maintenance screen will come into view. Highlight the desired period and press the Select button. When the desired record has been entered, press the OK button.