Fiscal Periods Screen Field Reference
General tab
| Field | Description |
|---|---|
| Fiscal Period | |
| Define Fiscal Period by Month End | Click Note: Once you post a transaction in ProContractor, you cannot change this setting. |
| Fiscal Year End | If your fiscal periods close on the last day of the month, click Note: Once you post a transaction in ProContractor, you cannot change this setting. |
| Close Periods by Functional Area | Click |
| Close Through Period End | If you are not closing your fiscal periods by functional area, enter the date through which all postings will be closed or click |
| Closed Period Password | Enter a password that will be required to modify transactions after a fiscal period has been closed. The password is case sensitive and can contain up to 40 characters. |
| Confirm Password | Re-enter the password that will be required to modify transactions after a fiscal period has been closed. This value must match the value in the Closed Period Password field. |
| Future Posting | |
| Password | Enter a password that will be required to post transactions to a future fiscal period. The password is case sensitive and can contain up to 40 characters. |
| Confirm Password | Re-enter the password that will be required to post transactions to a future fiscal period. This value must match the value in the Future Posting Password field. Here's a brief video demonstrating this functionality:
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Define Fiscal Periods tab
If you set the Define Fiscal Period by Month End field on the General tab to No, use the grid on the Define Fiscal Periods tab to define the fiscal periods. Fiscal period rules include the following:
- You can create any number of fiscal periods in a fiscal year.
- The number of fiscal periods can vary from one fiscal year to another.
- Within a fiscal year, there should be no gaps or overlaps from one fiscal period to the next fiscal period. For example, if the 2nd fiscal period ends on 10/31/2013, the 3rd fiscal period must begin on 11/01/2013.
- The end date of the last fiscal period of a fiscal year must be within 15 days of the end date of the last fiscal period of the previous fiscal year. For example, if the end date of the last fiscal period in fiscal year 2013 is 12/15/2013, then the end date of the last fiscal period in fiscal year 2014 must be within 15 days of 12/15/2014.
- The start date of the first fiscal period of a fiscal year must be within 15 days of the start date of the first fiscal period of the previous fiscal year. For example, if the start date of the first fiscal period in fiscal year 2013 is 01/15/2013, then the start date of the first fiscal period in fiscal year 2014 must be within 15 days of 01/15/2014.
- The end date of the last fiscal period of a fiscal year must be within 15 days of the end date of the last fiscal period of the previous fiscal year. For example, if the end date of the last fiscal period in fiscal year 2013 is 12/15/2013, then the end date of the last fiscal period in fiscal year 2014 must be within 15 days of 12/15/2014.
- The start date of a fiscal period must be within 15 days of the start date of the same fiscal period of the previous year. For example, if the start date of the 5th fiscal period in fiscal year 2013 is 02/01/2013, then the start date of the 5th fiscal period in fiscal year 2014 must be within 15 days of 02/01/2014.
Close Period by Functional Area tab
If you set the Close Periods by Functional Area field on the General tab to Yes, use the grid on the Close Period by Functional Area tab to define the fiscal periods for one fiscal year. Each row in the grid on the Close Period by Functional Area tab is a functional area within ProContractor. In the Close Through Period End column, enter a closing date for each functional area or click to select the date from a Date Picker.
