Periods

  • Periods refers to the fiscal periods that are applied to each document created in the system. Periods are related to Financial Years, which in turn are related to Financial Year Groups.

  • Each period (AKA fiscal period) typically relates to a month within the Financial year (AKA Fiscal Year) of an organisation. Separate periods exist for each Financial year.

    Tip

    Periods can be reopened if locked.

Viewing Periods

Select Period End / Periods from the Settings section of the pulse menu -

Note

This is an example screen shot of the pulse menu.

Position of the menu items within pulse will vary according to available options and dependant on personal screen resolution.

or enter Periods in the Quick Launch Side Menu.

This will then show the Periods on the system where normal customisation of Sets can be used as well as the Tree filter option.

Tip

To modify the columns displayed, select in the top right of the page, then tick/untick the information you want to see or not.

Special periods Special periods are used to create documents as part of the **Year end rollover process**.
Tip

You can restrict document type(s) to be able to use special periods and / or not be able to use them at all.

Brought forward special period

  • This special period is used to contain the Year end rollover calculations from the previous financial year.

Adjustment special period

  • This special period is created after the final monthly period (excluding special periods), within the financial year.

  • This period is commonly used to record adjustments e.g. accruals, revaluations, depreciation, amortisation, etc as well as adjustments advised by the accountant, etc.

  • Posting documents in this period are included in the Year end rollover calculations.

Carried forward special period

  • This special period is used to record the year end rollover figures as a carried forward posting. This is optional.
Year end rollover

  • The Year end rollover (YERO) process is run from a Financial Year.

  • The Year end rollover process creates document(s) for the previous financial year to populate the Brought forward and Carried forward (optional) Periods. In high level terms, this is done as follows:

  • An aggregated posting line per balance sheet Chart of Account (COA) code and selected posting attributes with a balance other than 0.

  • An aggregated posting line of all P&L lines to the equivalent Retained profits COA code.

  • The above lines include the monthly periods as well as the special brought forward and Adjustment period(s). Carried forward documents are not included in the Year end rollover calculations.

  • The above posting lines create a document in the brought forward period of the next Financial year and if "carried forward" is selected will also create the same journal (signs reversed) in the carried forward period within the financial year that the Year end rollover is being conducted on.

  • Year end rollover can be conducted on 1 or more Legal Entities at the same time as long as they are part of the same Financial Year Groups.

  • The postings generated by the Year end rollover are created as manual journal documents. If following the posting of these documents, further revisions need to be made to the Year end rollover then the previous Year end rollover documents can be reversed, the corrections/ adjustments made and the Year end rollover process repeated, thus creating new Year end rollover documents.

Document type

  • This is a Periodicity section in environment settings.

  • Consider relaxing the posting attribute validation checks if you're not going to include all balance sheet posting attributes.

  • Additionally, if the Year end rollover document type is locked, unlock it and set it as the default here.

Posting attributes

  • Select the posting attributes you wish to include in your balance sheet aggregations.

  • Produce c/f: Tick this check box if you wish to produce a carried forward document for the Financial year being rolled forward.

  • Submit for authorisation

  • Close periods: Tick if you wish to close the periods associated with the Financial year as part of the process.

  • Close Financial Year: Tick if you wish to close the Financial Year as part of the process.

Periodicity auto population
Period end scheduled event

  • This process will automatically populate Period(s), Financial Year(s), as well as close Financial Year(s) and period(s) according to Financial Year Group setup settings.

  • The timing of running this event can be scheduled (execution pattern) as example below which is run once a day at 1am.


Updated February 2024