When the system is installed, the fiscal years are set up in accounts payable. To setup the fiscal year, select change system setup, and the fiscal year choices will be provided. There is an additional field at the top of the fiscal year setup that determines the current fiscal year in GL. This year is used in determining the relation to GL which is not date sensitive, and does not specify the actual fiscal year. Standard GL is only current an last year and the actual year is not entered anywhere.

Be sure to update the fiscal year prior to doing anything else once the installation is complete!

The system allows twelve periods to match the twelve periods in GL. The periods can be for future periods or past periods. In the example, all twelve periods are used, but only one period is required.

If only four periods are desired the dates would be adjusted accordingly and the other periods would not be used. Since GL is limited to 12 periods, only twelve periods are possible.

Notice the capability to close a period from further entries. If the status is changed from O to C, postings to that period will not be allowed. The inclusive dates for each fiscal period can be changed at any time. Changes will have no effect on prior entries.

Maintenance Choices

At the bottom of the fiscal year maintenance screen the following options are provided:

• Save - Save the current screen and continue
• Edit - Edit the current screen
• Cancel - cancel the editing session without saving
• New Year - add another year, or maintain one of the existing years
• Quit - quit and go back to system setup

When entering invoices the date of the invoice determines which period the invoice will be entered in based on the calendar dates in the fiscal calendar. The fiscal month and year determine which period in GL the entry will be posted in.

One of the fields that can be changed while editing invoices is the date of the invoice. If the date is changed so the date falls into a different fiscal month, an entry will be created to be posted to GL showing the change.

The procedures for entry are identical to standard entry. In most cases there will be no perceived difference during AP entry. The date entered will simply determine the period used.

Dates will be checked against the fiscal calendar to deterimine if they fall into a valid period. If a date is entered that is not included in a valid period for entry, a prompt for a new date will be provided. The system will not continue until a valid date is entered.

General Ledger updating has been changed to provide for multiple period updating from linked programs. The only module affected by the change is Accounts Payable. Other modules will continue to post as before. When the current period update is selected it will update GL with both the AP entries from the current period and all entries from the other modules.

When updating from linked programs there is an extra choice to select either the current period or past periods. There is no option to update future periods. If the current period is not selected the choice will be provided to select the current year, or the last, and the fiscal month to update. Although it is possible to have many years of entry in Accounts Payable, General Ledger only provides for the current year and the last year.