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.