Here is a description of the fields that make up a financial year and its accounting periods. Some of these fields might not be visible or editable at all times, or in all package combinations.
Year Detail
Key: R – Read-only; * – 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:
This field will be activated in a future release of 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 |
|
| Status | R |
Status of the year, such as:
This is 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 account |
|
| 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 mode GLA Only or Full Accounting Code. This mode controls the detail and size of your year end journal lines. specified on the current company The 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 when the year end process was run. This field is blank for an Open year. This is set by the year end process. | |
| Year End User | R | For system use. Used to lock companies during year-end processes. |
Periods
The start date of the first trading period is the same as the start date for the year.
Key: R – Read-only; 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. | ||
| Soft Close | E | When selected, this period is closed for everything except Journals. Users cannot save documents or post transactions to this period, apart from Journals, and the exceptions noted in the Editing and Deleting Years and Periods topic. Users can choose to soft close the period to all GLAs at once, or soft close the period to specific GLA groups. After the year end process has completed, deselecting the Soft Close options will have no effect and the period will remain closed. | |
| Hard Close | E | When selected, this period is closed. Users cannot save documents or post transactions to this period, apart from the exceptions noted in the Editing and Deleting Years and Periods topic. Users can choose to close the period to all GLAs at once, or close the period to specific GLA groups. After the year end process has completed, deselecting the Hard Close options will have no effect and 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 |
Opens the Year End Summary page where you can start the year end process for the selected year with a set of validations. This button appears only if the year end status of the selected year is "Open". |
| 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. |