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Overview
Accounting Periods (G/L periods) need to be established before non-labor transactions can be entered into the system.
Key Concepts
| • | Prior to adding G/L periods, the Seed Start Year (earliest fiscal year) and Seed Start Date must be established. This is done through Global Settings>General Tab in the Fiscal Calendar section. |
Note - Be sure to choose a year that covers the oldest transaction that will be put into the system.
| • | InFocus supports the following Fiscal Year Types. This is assigned through Global Settings>General Tab in the Fiscal Calendar section. |
| o | Calendar 12 - Twelve periods. Start date of year is January 1st. End Date of year is December 31st. Each month is a period. |
| o | Non-calendar 12 - Twelve periods. Start date of year is specified by user. Each period begins on the same day of the month. |
| o | 13 Periods - Each period is 28 days long, starting on a user-specified start date. |
| o | 5 x 4 x 4 - Twelve periods. The first period of each quarter receives five weeks. All other periods receive four weeks. |
| o | 4 x 5 x 4 - Twelve periods. The second period of each quarter receives five weeks. All other periods receive four weeks. |
| o | 4 x 4 x 5 - Twelve periods. The third period of each quarter receives five weeks. All other periods receive four weeks. |
| • | A G/L period contains a start and end date with a period code in the following format: YYYY-MM (where YYYY equals the fiscal year, and MM is a number between 01 and 13 (or 12 for 12-period fiscal years). that covers the oldest transaction you plan on putting into the system. |
Additional Toolbar Options
Aside from the standard toolbar options this applet has the following option in the toolbar:
Periods
| • | Create New Fiscal Year - When selected, this will create a new Fiscal Year. If it is your first time running this, InFocus will use the Seed Start Year and Seed Start Date to create the first year. Those are set at Global Settings>General Tab in the Fiscal Calendar section. |
| • | Delete Most Recent Fiscal Year - When selected, this will delete the most recent fiscal year. |
Field Descriptions
| • | Current Period - This is the default G/L period. It must be an open period in the All Periods Grid. It acts as the default on new transactions and other procedures where a G/L period is required. |
| • | Current Invoicing Period - The default "As of" period for client invoicing. |
All Periods Grid
| • | Open - When checked, this period is open for transactions. |
| • | Period Code - System-generated. Cannot be changed. |
| • | Start Date - System-initialized but can be changed by user. This is the start date of the period. |
| • | End Date - System-initialized but can be changed by user. This is the end date of the period. |
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