The following table describes the fields that appear in the Posting Period window.
To open the window, choose: Administration > System Initialization > Posting Periods > New Period.
Specify a code for the posting period. The code can be up to 20 characters.
Specify a name for the posting period. The name can be up to 20 characters. The name of the period that includes the current date is displayed at the top of the Main Menu window.
Select one of the following options. This setting determines the number of additional posting periods to be created automatically by SAP Business One:
- Year – Choose this option to manage a single period during a fiscal year. SAP Business One will not create additional posting periods automatically when choosing this option.
- Quarters – Choose this option to manage 4 posting periods during a fiscal year. When you choose Quarters, the number 4 is entered automatically in the No. of Periods field and SAP Business One creates 4 new posting periods respectively.
- Months – Choose this option to manage 12 posting periods during a fiscal year. When you choose Months, the number 12 is entered automatically in the No. of Periods field and SAP Business One creates 12 new posting periods respectively.
- Days – When you choose this option, the No. of Periods field becomes active. Enter the number of required posting periods. SAP Business One will then create respective periods. For example, if you need to manage one posting period per week, enter 52 in the No. of Periods field. SAP Business One will then create 52 periods; one for each week.
When you select an entry that consists of more than one posting period, the value entered in the field Period Code will then be used as the base code for creating the codes of the additional posting periods. For example, if 2006 is entered as the Period Code and the value Quarters is selected in the field Sub-Periods, the codes of the four new posting periods would be 2006-1, 2006-2 and so on.
No. of Periods
Displays the number of posting periods according to the option selected in the Sub-Periods field. This field will be active only when Days is chosen in the Sub-Periods field.
The Period Indicator refers to each document series (row) that can be connected to one or more Accounting Periods. Each document series must be connected to an indicator, to enable document numbering starting with 1 for each fiscal year.
Choose the period indicator to connect to the accounting period. The period indicator can be connected to more than one period in the same company.
Assign to the posting period the required status:
Unlocked – All users, with respect to their authorizations, can post all types of transactions and documents to this period. This status is assigned by default to new posting periods.
Unlocked Except Sales – All users with respect to their authorizations, can post to this period all types of transactions and documents, except for documents of the Sales – A/R module. Assign this status once the period ends, but there are still purchasing documents, such as late A/P invoices, and other transactions that should be posted to this period.
Period Closing – Users with full Period—End Closing authorization can post to this period all types of documents and transactions. Assign this status to the period if the following conditions apply:
The period has ended.
All late transactions have been posted.
Only year-end closing remains to be done.
Locked – Neither documents nor transactions can be posted to the period. Assign this status to the period after all adjustments have been posted and the year-end closing process is complete for this period.
Archived – Neither transactions nor documents can be posted. This status is assigned automatically by the data archive wizard. Using the data archive wizard, you can archive previously locked periods that are at least two years old.
Posting Date From… To…
Specify the posting date range for the new period. By default, the From date is the day after the end date of the latest posting period exists, and the To date is one year later.
Example: The latest period defined ends on 31.03.07. By default the posting date range of a new period is 01.04.07 – 31.03.08.
Note: Posting date ranges of different posting periods must not overlap. In other words, the start posting date of one period can not be earlier than the end posting date of the another period.
Due Date From… To…
Specify the due date range of the new period. The due date range can be longer than the posting date range.
Document Date From… To…
Specify the document date range of the new period. The document date range can be longer than the posting dates range.
Start of Fiscal Year
Specify the starting date of the fiscal year to which the period relates.
Specify the fiscal year to which the period relates.
Choose to add the new posting period. If you have chosen to create a period containing a number of sub-periods, these will be created automatically and will be divided according to the appropriate range of dates.