Fiscal Periods Screen

Last verified with: 10.8.6.0

Overview #

The Fiscal Periods screen is used to create and manage fiscal periods for owner-level financial control. Once a fiscal period is closed, new financial activity cannot be posted into that closed period.

Fiscal periods are optional and do not need to be configured unless your organization uses period-based financial controls. When they are used, periods are created manually by date and must remain continuous, with no gaps or overlaps between one period and the next.

Fiscal periods can support standard month-based calendars as well as custom structures such as a 4/4/5 fiscal calendar.

Closed Period Functionality #

When a fiscal period is closed:

• New financial activity cannot be posted into that period.
• Manual transactions and credits cannot be created with posting dates inside the closed period.
• Payments cannot be created with posting dates inside the closed period.
• Financial records with posting dates inside the closed period cannot be edited.
• Closed periods cannot be deleted.
• Only the Name field remains editable for a closed period.

Some operational activity may still reference dates that fall within a closed period, but any resulting posting activity must occur in an open period.

Fiscal Periods Panel #

The Fiscal Periods panel on the left lists the configured fiscal periods. Select a period to view or edit its details in the panel on the right.

Actions #

Icon	Description
	Adds a new fiscal period
	Deletes a fiscal period
	Cancels a fiscal period
	Reopens the most recently closed fiscal period when reopening is allowed

Edit Fiscal Period Panel #

The Edit Fiscal Period panel displays the details for the selected fiscal period.

Fields #

• Name: Defines the name of the fiscal period.
• ID: Displays the internal identifier for the fiscal period.
• Status: Indicates whether the period is Open or Closed.
• From: Defines the first day in the fiscal period.
• To: Defines the last day in the fiscal period.
• Fiscal Year: Stores the fiscal year associated with the period.
• Fiscal Quarter: Stores the fiscal quarter associated with the period.

Only certain date fields can be changed depending on which period is selected. In practice, the latest period has the most flexibility for date maintenance, while earlier periods are more restricted to preserve a continuous period structure.

Financial Activity Review #

Below the fiscal period fields, the screen includes a financial activity review area for the selected period.

View Type #

The View Type field controls which type of financial records are shown in the list for the selected period. This allows administrators to switch between supported financial views, such as payments or transactions, when reviewing the period.

Refresh #

Refresh reloads the financial activity list for the selected period and current View Type.

Financial Activity Grid #

The financial activity grid shows the records found for the selected period based on the chosen View Type. This area is useful when reviewing whether financial records exist in the period before closing it or when validating activity after period maintenance.

Guides #

Adding Fiscal Periods #

1. In the Fiscal Periods panel, click Add.
2. Enter the Name, From, To, Fiscal Year, and Fiscal Quarter values.
3. Click Save.

Configuring A 4/4/5 Fiscal Calendar #

The 4/4/5 fiscal calendar divides a year into four quarters of thirteen weeks each. Each quarter is typically arranged as two four-week periods and one five-week period.

To configure this structure:

1. Add the first fiscal period and set the dates for the first four-week period.
2. Add the second fiscal period beginning on the day after the first period ends, and set it for another four-week period.
3. Add the third fiscal period beginning on the day after the second period ends, and set it for a five-week period.
4. Repeat the pattern for the remaining quarters as needed.

Editing Fiscal Periods #

1. In the Fiscal Periods panel, select the fiscal period you want to update.
2. Update the allowed period details.
3. Click Save.

Deleting Fiscal Periods #

Only periods that are eligible for deletion can be removed. Closed periods cannot be deleted.

1. In the Fiscal Periods panel, select the fiscal period you want to delete.
2. Click Delete.
3. In the confirmation dialog, click Yes.

Closing Fiscal Periods #

Before closing a fiscal period, review the financial activity that belongs to that period and complete any required billing or financial processing.

1. In the Fiscal Periods panel, select the fiscal period you want to close.
2. Review the financial activity for the period as needed.
3. Click Close.
4. In the confirmation dialog, click Yes.

Reopening Fiscal Periods #

If the most recently closed period needs to be reopened for correction or review, it can be reopened when the action is available.

1. In the Fiscal Periods panel, select the fiscal period you want to reopen.
2. Click Reopen.
3. In the confirmation dialog, click Yes.