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Overview
The period maintenance screen is used to set up your company's accounting periods. Each period should be assigned a beginning and ending date, be defined as open or closed, and be assigned to a quarter.
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Detail
Each Period will have the status of Open or Closed and one period will be considered the "Current Period" An open period is defined as a period in which data can be posted or adjusted. It is strongly recommended that you never have more than three open periods, current and the two prior. The current period is defined as the period that you are currently working in. You cannot have more than one current period at a time. A closed period will not allow any activity. If a period is closed and additional activity is required for the period, you must change the status to open.
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