• From: Kenya
  • Registered: 11/21/2017
  • Posts: 34

Topic: Accounting periods management (opening and closing)

Hi guys,
I really appreciate the features in Front Accounting.
I'd like to add to the wishlist the capability to close and open accounting periods for each module. Currently there is Accounting year management which is working very well and I think it will be very useful if this could be extended a bit.

Thank you in advance.
Mugao.

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,160

Re: Accounting periods management (opening and closing)

Elaborate on what you mean by close and open accounting periods for each module.
The P&L should be prepared for the fiscal year and hence the close and open for it.
Do you mean to restrict entry to a certain accounting period (what least count?) for each module?
If so, what about reporting across multiple periods, year, years?

apmuthu's Website

  • From: Kenya
  • Registered: 11/21/2017
  • Posts: 34

Re: Accounting periods management (opening and closing)

Thank you for your reply.
Most corporates I know do their management reports on a monthly basis (Profit and Loss, and Balance sheet). Once reporting has been done for a specific Month/Period, say January 2018, the month/period should be locked to prevent users from erroneous/un-authorized postings to those periods, which would alter the already reported numbers.
It should still be possible to print reports from a locked/closed period, but making entries into it would be restricted and controlled.
Take for example 2018, I would lock Jan, Mar, Apr, May,Jun, Jul, Aug,Sep,Oct,Nov, and Dec; but leave February open. This would ensure that at this time, all transactions are being entered into February 2018 and so will affect only February reports.

I hope I have explained properly, this is a very important feature.

Regards,
Mugao.

  • joe
  • Administrator
  • Offline
  • Registered: 03/15/2007
  • Posts: 5,107

Re: Accounting periods management (opening and closing)

You can close a date for further entries.
You are free to define your own periods so to speak. There are no periods in FA but many reports are on a monthly selected base. You can change if desired.

Joe

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,160

Re: Accounting periods management (opening and closing)

@joe: Which setting closes a date (not fiscal year) for further transactions / edits?

apmuthu's Website

  • joe
  • Administrator
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  • Registered: 03/15/2007
  • Posts: 5,107

Re: Accounting periods management (opening and closing)

Banking and General Ledger,  Closing GL Transactions.

You may need to update the Access Role for doing this.

Joe

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  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,160

Re: Accounting periods management (opening and closing)

@joe: Thanks.

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apmuthu's Website

  • From: Kenya
  • Registered: 11/21/2017
  • Posts: 34

Re: Accounting periods management (opening and closing)

Thank you guys, This is sufficient.
Good day.

Regards,
Mugao