Time flies. What a cliché. But as other popular clichés, this one is also true. Especially in business where everything is so dynamic – a month ends and another one starts and before you blink it’s a new quarter. When working with posting periods noticing the start and end dates is critical. When a period ends you can set its status to “Closing Period” so users will not be able to post documents or transactions to the previous period. If your posting period is a whole year this is a one-time task, but when working with shorter periods such as months or even weeks, this becomes a regular and even more critical task. For such cases, SAP Business One can change automatically the status of ended periods to “Closing Period” per your definition:
Select the checkbox and define how many days after the period end date the ‘Closing Period’ status should be applied. For example if you define 2 days, the users would know that they can still add documents and transactions to the previous period during the first two days of the new period.