Modify Accounting Periods
Explanation
Use this activity to modify information on accounting periods within a company.
The period calendar is connected to the ledgers available for a company and
it consists of a main calendar and corresponding calendars for each user group.
The accounting periods can only be modified in the main calendar that connected
to the general ledger. The modified calendar will be available for all the ledgers.
This mandatory task is to be performed by a system administrator or equivalent
person.
Prerequisites
This activity has the following prerequisites:
- The company must exist in IFS Financials.
- To validate transactions in progress for an accounting period, the accounting
period must have status Open or Closed.
- The calendar should be connected to the general ledger of the company.
System Effects
As a result of this activity:
- User groups can be connected to the periods per ledger.
- The users in the user group can be allowed to enter postings on the
accounting period per ledger, i.e., the period is either open or closed
for the user group.
- A period which is finally closed cannot be reopened.