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Hello everyone,
You'll find underneath some information about period control in ByD. The document aims to be simple/straightforward and provide some basic troubleshooting.
As you know, postings in accounting are always for a specific accounting period and posting date. Automatic checks are triggered to determine if the accounting period is open for the specified posting date when the source document is posted and in accounting before the journal entry is created. If the period is closed, the document cannot be posted.
Where to find the accounting periods in ByD?
You can manage the periods via General Ledger work center, Sets of Books and Assigned Companies view.
Select the combination of set of books and company and click Open and Close Periods. The periods are set for each combination of set of books that your company may have.
If the Period is Not Blocked, you can influence the posting by making changes to the process control for that period.
What is a Process Control?
Process control defines how source documents in the originating applications can be posted in accounting, based on the posting date.
When the posting date is defined in the source document (manually or automatically) the process control settings determine whether a source document can be posted or not.
On the Open and Close Periods screen, you can see the process control set for each period. See screen shot below.
Note the Entry Possible Until date refers to the entry date in the source document. For example, you can allow source documents to be entered for a closed period as long as they have a posting date that is within the period.
The process control may have three different status:
Blocked -> No source documents can be posted in the specified accounting period. An error message is raised.
Partially Blocked -> Source documents can be posted in the specified accounting period, but a warning message is raised.
Not Blocked -> Source documents can be posted in the specified accounting period.
You can also restrict/allow postings based on the type of the source document, such as Supplier Invoice, Expense Reports, etc. in the Business Process Group column.
The creation of the process control is automatic when the period is unblocked. Nevertheless, you may create/adjust additional entries for the period via General Ledger -> Companies -> Set Process Control. The changes are applied for all set of books assigned to the selected company.
Here are some common errors indicating that the period is closed:
- Posting on <posting date> blocked; release not possible
- Period <accounting period> in fiscal year <fiscal year> is closed for closing steps Operational Postings
- Financial posting on requested date blocked
- Accounting period closed; contact accounting department
If one of these errors (or similar) are raised, based on the above comments, check...
...whether accounting period is Blocked or Not Blocked
...first and last allowed steps, if the period is not blocked.
...process control settings for the period.
For a deeper look into accounting periods, the below Help Documents are helpful:
- Process Control for Operational Postings
- Checking the Accounting Period for Operational Postings
- Close Accounting Periods for Closing Entries
- Closing Steps
- Open and Close Accounting Periods
What about closing the periods?
ByD offers the Closing Cockpit, where you can do a period-end closure for your company and monitor the progress based on the status of the closing activities. The help document Closing Cockpit Quick Guide contains further details about this feature.
During the process of the closing itself (Close period button) in the Open and Close Periods, the following errors may arise:
- Cannot close period <accounting period>; only one open interval is allowed
I believe that this is self-explanatory. You can only have one open interval of periods;
E.g.:
|Blocked | Not Blocked | Not Blocked| Blocked| -> Allowed
|Blocked | Not Blocked | Blocked | Not Blocked | -> Not allowed
- Closing of period 001 not possible: Previous fiscal year not closed
In order to close the first period of the year, the previous fiscal year shall be blocked as whole. In order to do so, go to General Ledger -> Sets of Books and Assigned Companies -> Edit Fiscal Year. Select the fiscal year and click Close Fiscal Year.
- Cannot close all periods in fiscal year <fiscal year>; Bal.Car.Fwd. not finished
This error occurs when the last period of the fiscal year is being closed. It indicates that the balance carryfoward run was not executed.
You can see if the run has been executed or not via General Ledger -> Sets of Books and Assigned Companies -> Edit Fiscal Year
You'll see two columns:
The Carried Forward Posted column indicates whether the balance sheet accounts have been carried forward. The Result Posted column indicates whether the annual net profit or annual net loss was posted.
The check box is flagged as soon as the balance carryfoward is executed in the first and second steps, respectively.
- Company <company ID>/ Set of Books <set of books>: Balance carry forward run not performed since <fiscal year>, only current year values shown. Perform outstanding balance carry forward runs since <fiscal year>.
This error occurs when executing a balance carryforward run for a fiscal year, however the run was not performed for the previous year. In other words, to close the year, the preceding one has to be closed. Note that no more than three fiscal years can be open concurrently.
- The balance carryforward is not possible. Execute Depreciation under Fixed Assets.
This error may occur either when closing the last period of the year or when executing a balance carryfoward run. Upon year-end closure, the system checks whether the planned and posted depreciation for fixed assets agree. If this error occurs, check the Depreciation report under Fixed Assets work center. In the report, choose the Posted / Planned Values view. The values of the Posted Depreciation and Planned Depreciation shall accord. You have to check the values for all the set of books and valuation views for the desired year.
And a word about the balance carryforward....:
Balance carryforward transfers the closing balances of G/L accounts from one fiscal year to the next, and ensures that the annual net profit/loss is correctly reported in the balance sheet. You execute the run in two steps:
Step1: The balances of the balance sheet accounts are carried forward into the next fiscal year. This ensures that the closing balances of the balance sheet accounts in the fiscal year being carried forward are the same as the opening balances in the new fiscal year.
Step2: The balances of the profit and loss accounts are cumulated and transferred to the corresponding balance sheet account for annual net profit or loss. This ensures that closing balances and opening balances of the profit and loss accounts are always zero.
You can also find further information concerning fiscal years and period closure in the below help documentation:
- Balance Carryforward Quick Guide
- Closing Fiscal Years
- Closing Activities - Year-End Closing
- Closing Cockpit Quick Guide
That's all for now.
Regards,
Alexandre.
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