Fiscal Periods

To launch a Fiscal Periods manager, select Fiscal Periods from the Financial Group. The following form will appear:

Close Fiscal Period

Once a fiscal period has been completed and no more transactions are to be recorded, you should closie the fiscal period.  Click on the + sign beside the year to expand the list of fiscal periods in the year.  Next click on the fiscal period you wish to close and then click on the Close Fiscal Period button on the tool bar. to close the period

If for any reason , you need to reopen a fiscal period to perform a transaction, follow the steps above and then click on the Open Fical Period button on the Tool Bar.  Use extreme caution when reopening a fiscal period and remember to close the period again when you are done.

Close Fiscal Year

When you ffical year is complete and all adjsting entires have been posted, you are ready to close the fiscal year.  The action of closing the fiscal year will post closing entires to the general ledger.  To close the fiscal year, first ensure that all of the fical periods for the year have been closed.  Click on the line for the fiscal year and then click on the Close Fiscal Year button.

If for any reason , you need to reopen a fiscal year to perform a transaction, click on the line for the fiscal year and then click on the Open Fical Year button on the Tool Bar.  Once the fiscal year has been reopened, you will have to reopen the fiscal period in which you wish to perform the transaction.  Use extreme caution when reopening a fiscal year and remember to close the year again when you are done.