Periods

Overview

These are your financial open item periods that are used to control what data is entered by staff and are controlled by the accounts and management staff.

The code for each period is structured in "YYYYMM" format. Where "YYYY" is the year and "MM" is the month.

You can filter the period list view to show a calendar year by entering the year in the auto filter row above the period-id.

A task runs each night to close older open periods and to open new periods when required. If you manually open a period, the end of day task will close it again that night.

You can also close transaction types within a period. What this means is, if the period is open or closed you can close certain transaction types within that period.

Procedure

Periods

1. From the Navigation panel click on Administration then click on Periods

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2. The Periods list view appears.

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3. On the left-hand side of the screen is a list of Periods already entered into Readysell.  On the right-hand side is the detail for each Period that you have highlighted.  
4. The information on the right-hand side is editable.  You are able to adjust all fields.
5. Generally, you would not be updating the existing period unless you were opening it up again by turning off the tick on the field Closed
6. And then click on the button Save to save the changes.
   
   

Opening/Closing a Period

To open and/or close a period:

• Log onto Administration
• Select Period
• Search and highlight the period to be opened/closed
• Then on the detail view on the right-hand side of the screen
• Turn the Tick OFF the field "closed" if you want to Open the Period. If you wish to close the period turn the Tick ON the field of 'Closed'
• Click on the Save button on the ribbon menu at the top of the screen

Closing Transaction Types with a Period

1. From the Navigation panel click on Administration> Periods

2. The Periods browse window appears.

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3. Locate and select a period

4. In the detail area for the highlighted Period,click on Insert to specify the Transaction Types to be closed for the selected period

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5. Click on the Search filter to display all the available transaction types 

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6. Press Ctrl and A keys to highlight all transaction types and click on OK to insert these to the screen 

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7. All of these transaction types will be closed within that period for the transactions types in the list

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8. Select each transaction type you wish to remove from the List that you DO NOT WANT TO CLOSE THE PERIOD FOR and click on Remove. The remaining transaction types will be the ones that will be closed for that period highlighted.
   DO NOT TICK THE CHECK BOX in the top Ribbon On for 'CLOSED' for that period. Leave this check box OFF

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9. Click on Save.

Creating a New Financial Period

Periods are normally generated via a task and usually, there is no need to create a period.

1. Click on button New

2. The Period entry window now appears

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   1. Key in the Period ID in YYYYMM format (e.g. 201209)
   2. Turn the flag on or off for Closed - this will stop anyone there from backdating anything
   3. Only turn the flag on for Archived if you want this record to remain on file but not visual on the browse list.
   4. Key in the Name the name of the actual month and then the year (e.g. September 2012)
   5. Key in the Start Date - this is the beginning date of the month (e.g. 01/09/2012)
   6. Key in the End Date - this is the last date of the month (e.g. 30/09/2012)
   7. Key in the Financial Year (e.g. 2012)
   8. Turn the flag on for End Of Year if you are running the end of Financial Year process.
3. Click on button Save to complete and save this new financial period.

Periods Automatically closed via a Task

Readysell can have your Financial Period automatically close by setting up a task that runs nightly.
The task wihin Administration>Advanced>Tasks is called Update Periods.

1. In the detail area, there is a Tab called 'Parameters' on the task of 'Update periods'
2. On the tab is a Parameter called 'AutoClosePeriodDays'
3. Assigned to this parameter is a value. The example above has a value = 2
4. The value determines how many days into the next period before the task runs and closes all periods that are Open.
5. To enable the task, there is a Tick Box called 'Enabled' in the detail view of this task. That has to be ticked and there needs to be a value in the Value field on the Parameter 'AutoClosePeriodsDays'.
   
   

If you don't want the task to run and you would like to have control of Closing and Opening a financial period then turn the tick off for that period on the field 'Enabled'