Fiscal Year Period Descriptions Maintenance

Use Fiscal Year Period Descriptions Maintenance to assign each calendar month of the Fiscal Year to a specific Period and to assign the period descriptions as well as a Closing Date or Open Option for a period. If your Fiscal Year coincides with your Calendar Year, then enter the month that coincides with the Period Number. If your Fiscal Year begins in a month other than January, then enter the appropriate month description for each fiscal.

Notes:

There is only 1 Fiscal Year table, which is for the current Fiscal Year. Generally, the Fiscal Year table is set up during the installation process and the year is automatically incremented by 1 during the Year End process when you run the Update Master Accounts routine so you do not need to edit it under normal conditions. The instructions below mostly pertain to setting up the Fiscal Year during the installation.
On occasion you might need to close a period to prevent a coworker from posting to the period if it has been reconciled. Use this maintenance to do this.
The General Ledger provides fourteen periods for each year - one for each month, a 13th period for facilities that use thirteen four-week periods, and a 14th period for closing.
WARNING: The Fiscal Year/ Period Descriptions must exist for the current year. You can not delete it.

CAUTION

After making changes to a Fiscal Year, you must completely exit from the General Ledger before the changes will become available to other General Ledger programs.

Directions:

To open click File Maintenance from the Menu and then click Fiscal Year / Period Descriptions Maintenance.

Tip: Or, use the keyboard shortcut: [ALT] [m] [f].

Note: You may also be able to access the General Ledger menu while in another INVISION application. To activate the General Ledger menu in another application, the G/L Application Control must be set up for the application during installation.

Fiscal Year Table Maintenance - Calendar Year Window Example:

Fiscal Year/Period Descriptions Maintenance Prompts
Fiscal Year	Enter the Fiscal Year that you want to maintain. (CCYY - century required) Required Tip: If the Fiscal Year is not the same as the calendar year, most facilities use the last Period's year as the Fiscal Year. For example, if the Fiscal Year encompasses June 2016 through May 2017, then the Fiscal Year is 2017.
For each period enter the following:
Period Description	Click the field and enter the Period Description for the Period Number. Usually this contains the name of the month. Examples: If your Fiscal Year coincides with the calendar year, then the Period Description for Period 1 is January, Period 2 is February, etc. If your Fiscal Year is different from the calendar year, such as with a Fiscal Year that starts in June, then the Description for Period 1 is June, Period 2 is July, etc.
Open	Open determines if the period is open or closed. If checked, the period is open. If unchecked the period is closed and entries can't be posted to it. Tip: Occasionally you might close a period if the period has been reconciled and you do not want others to post entries to it.
Closing Date	Enter the date of the closing date for the period, which is the last day of the month for the period.
Year	Enter the calendar year for the month number. Examples: If your Fiscal Year coincides with the calendar year, then you will enter the same year as the Fiscal Year for each Period. If your Fiscal Year is different from the Calendar Year, then enter the appropriate year for each Period. If Fiscal Year 2017 starts in June 2016, then for Period 01 (June) through Period 07 (December), enter 2016. For Period 08 (January) through Period 12 (May), enter 2017. If you do not use Period 13, NDS suggests entering the Fiscal Year as the calendar year. For Period 14, enter the Fiscal Year as the calendar year.
	To save the changes, click Save.
	To close the Fiscal Year Table Maintenance window click Close .
Editing The Fiscal Year/Period Descriptions	CAUTION: To avoid losing data, you must save changed information. 1. Enter the Fiscal Year. 2. Click the field to change using the mouse. 3. Enter the changes and click Save , or press [ENTER]. 4. To complete the edit process and close the window, click Completed .