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Setting Up Posting Periods

Note: You’ll want to create the following years posting periods before the present year ends. If not you will get an error message when posting documents that have due dates within the following year. 

 

  1. Go to Administration -> System Initialization -> Posting Periods 
  2. The Posting Periods window will open showing previously created periods and their status. 
  3. To create a new period click the New Period button.posting_periods_1.png
  4. Fill out the following information
    • Period Code: Typically the Year
    • Period Name: Typically the Year
    • Sub-Periods: select from the drop-down your sub-period option. The most common is Months.
    • The No. of Periods defaults based on the sub-period you selected.
    • The dates of the period default based on the year
  5. Extend the Due Date To field to 3/31/XX of the following year.
    • This will allow for documents at year-end to be posted with due dates into the following year.
  6. Make sure that the start of the Fiscal Year date and Fiscal Year are correct. 
  7. Click Add                                               posting_periods_2.png
  8. This will then populate the Posting Periods window with the new periods you created. 
  9. They will be auto-set to an Unlocked Period Status.
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