Here is a description of the fields that make up a financial year and its accounting periods. Some of these fields may not be visible or editable at all times, or in all package combinations.
Year Detail
Key: R – Read-only in all contexts; * – Mandatory field
The number indicates the number of characters that are allowed in this text field, where appropriate.
| Field | Description | ||
|---|---|---|---|
| Company | R | Company that owns this record. | |
| End Date | Last day of the financial year. The year end date is calculated for you, but you can amend it. | ||
| Number of Periods | * | 1 to 90 trading periods. | |
| Period Calculation Basis | * | The method used to calculate the interval between period end dates. The default is "Month". A period calculation basis of "Custom" is automatically assigned when period details are manually customized. | |
| Start Date | * | First day of the first period of this financial year. | |
| Year Name | * | 75 | Name of this financial year, such as "2015". Avoid using the forward and back slash characters in the year name. |
Year End Detail
| Field | Description | ||
|---|---|---|---|
| Adjustment Status | R | Status of the automatic adjustments process: Not Adjusted, In Progress, Error or Adjusted. This field will be activated in a future release of FinancialForce Accounting. | |
| Retained Earnings GLA | * | The general ledger account to use as a default retained earnings account during the year end process. Defaults to the retained earnings general ledger account The general ledger will normally include general ledger accounts (GLAs) for items such as income, expenses, assets, liabilities, and reserves. specified on the current companyThe company in which you are working. This is represented by the company queue to which you, and new instances of objects you create, are assigned., but you can amend it. The selected GLA must be of type "Retained Earnings" and be in home currency. |
|
| Status | R | Status of the year, such as Open, Closing, Closed or Error. Set by the year end process. | |
| Suspense GLA | * | The general ledger account to use as a default suspense account during the year end process. Defaults to the suspense general ledger accountThe general ledger will normally include general ledger accounts (GLAs) for items such as income, expenses, assets, liabilities, and reserves. specified on the current companyThe company in which you are working. This is represented by the company queue to which you, and new instances of objects you create, are assigned., but you can amend it. The selected GLA must be of a type other than "Retained Earnings" and be in home currency. |
|
| Year End Log | R | Lookup (Master-Detail) to the related year end log record. | |
| Year End Mode | * | The default processing mode for the year end process. "Full Accounting Code" or "GLA Only". This mode controls the detail and size of the resulting year end journal line items. Defaults to the year end modeGLA Only or Full Accounting Code. This mode controls the detail and size of your year end journal lines. specified on the current companyThe company in which you are working. This is represented by the company queue to which you, and new instances of objects you create, are assigned. record, but you can amend it. If the mode is not specified, the year end process will run in Full Accounting Code mode. |
|
| Year End Processing Date | R | Date the year end process was run. This field is blank for an Open year. Set by the year end process. |
Periods
The start date of the first trading period is the same as the start date for the year.
Key: R – Read-only in all contexts; E – Editable on a special period.
The number indicates the number of characters that are allowed in this text field, where appropriate.
| Field | Description | ||
|---|---|---|---|
| Period ID | R | Unique period identifier for this accounting period, made up of the Year Name and Period Number. | |
| Period Number | R | (000 to 101) Unique number for this period in this financial year. Automatically generated. | |
| Description | 255 | Description of this accounting period. You can overwrite the default description. | |
| End Date | Last day of the period derived from period calculation. You can overwrite the derived date as long as you do not create overlaps or gaps. | ||
| Period Group | E | Group of accounting periods such as "Q1". Useful when reporting. You can update the entries in this custom picklist. | |
| AR | When selected, this period is closed to the Accounts Receivable GLA group. | ||
| AP | When selected, this period is closed to the Accounts Payable GLA group. | ||
| Cash | When selected, this period is closed to the Cash GLA group. | ||
| Final Close | E | When selected, this period is closed to all general ledger accounts; users cannot save documents or post transactions to this period. When deselected, this period is open and users can save documents or post transactions to it unless it is closed to certain GLA groups. After year end deselecting this checkbox will have no effect. The period will remain closed. |
Buttons
The following buttons may display. The availability or validity of these buttons varies according to many factors, including org configuration.
| Button | Description |
|---|---|
| Process Adjustments | Runs the automatic adjustments process for the year. |
| Calculate Periods | Generates a set of accounting periods based on the selected settings. |
| Start Year End | Starts the Year End process for the selected year with a set of validations |
| Run Year End | Appears on the Year End Summary page when the process has passed its validation checks. Allows you to run the year end process. |