Table of Contents

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. 

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.

To use the Build a Year function, enter the beginning date into the start date field, (e.g. 01/01/2009) and simply press the Build a Year button. The year will automatically populate from the date you entered and also create periods with beginning and ending dates. TRX will assume 12 periods a year and will account for leap years. After the year is created, you will need to define which periods are open and which periods are closed. If the quarter that is assigned does not match your financial quarters they can be changed by simply typing new quarter numbers in the Quarter box. Click the Budget checkbox if the quarter will have a budget. You can also manually create the year by typing into the boxes.
Note: Once a year has been created and saved, it is displayed in the column "Periods have been defined for these years". 

Open

G/L > Special Functions > Period Maintenance