Field

Description/Activity

Period Code, Name

Enter the relevant code and name for the period.

Sub Periods

Click  and choose one of the following options. This setting determines the number of additional posting periods to be created automatically by SAP Business One:

• Year – Choose this option to manage a single period during a fiscal year. SAP Business One will not create additional posting periods automatically when choosing this option.
• Quarters – Choose this option to manage 4 posting periods during a fiscal year. When you choose Quarters, the number 4 is entered automatically in the No. of Periods field and SAP Business One creates 4 new posting periods respectively.
• Months - Choose this option to manage 12 posting periods during a fiscal year. When you choose Months, the number 12 is entered automatically in the No. of Periods field and SAP Business One creates 12 new posting periods respectively.
• Days – When you choose this option, the No. of Periods field becomes active. Enter the number of required posting periods. SAP Business One will then create respective periods. For example, if you need to manage one posting period per week, enter 52 in the No. of Periods field. SAP Business One will then create 52 periods; one for each week.

When you select an entry that consists of more than one posting period, the value entered in the field Period Code will then be used as the base code for creating the codes of the additional posting periods. For example, if 2006 is entered as the Period Code and the value quarters is selected in the field Sub-Periods, the codes of the four new posting periods would be 2006-1, 2006-2 and so on.

No. of Periods

Displays the number of posting periods according to the option selected in the Sub-Periods field. This field will be active only when Days is chosen in the Sub-Periods field.

Period Indicator

The Period Indicator refers to each document series (row) that can be connected to one or more Accounting Periods. Each document series must be connected to an indicator, to enable document numbering starting with 1 for each fiscal year.

Choose the period indicator to connect to the accounting period. The period indicator can be connected to more than one period in the same company.

Active/Locked

When the value in the Active field is Yes and the value in the Locked field is No you will be able to perform all types of actions in the specified period. 

·        Active – The purpose of this field is to allow or to block working with sales documents. The default value for this field is Yes. When the value is Yes (and the period is not locked), you will be able to add all types of records: sales documents, purchasing documents, inventory transactions, manual journal entries, Master Data, reconciliations etc.

If you choose No (and the period is not locked), no sales documents can be created in SAP Business One during this period. This option can be used in order to block users from adding new sales documents after the posting period has ended. However, you will still be able to add purchasing documents, inventory transactions, manual journal entries, Master Data, reconciliations and so on.

·        Locked – The default value for this field is No. When the value is No (and the period is active), you will be able to add all types of records: sales documents, purchasing documents, inventory transactions, manual journal entries, Master Data, reconciliations etc.

If you choose Yes (after the posting period was created), no documents or transactions can be added in SAP Business One during this period (sales documents, purchasing documents, inventory transactions and manual journal entries). This option can be used in order to block users from adding any documents and transactions after a posting period has ended.

If you want to restrict users from adding documents in previous periods, define a new series for the new period, set the new series as default for these users and block them from using the previous series.

Dates

When you create a new posting period, the date of the next fiscal year will be entered as default in all the date fields.

The date of the next fiscal year is determined according to the end date of the last posting period defined in SAP Business One. For example, if the last posting period defined in SAP Business One ends on 12/31/2006, the default date for the next fiscal year would be 01/01/2007

• Posting Date From, To - Enter the required posting date range available for this posting period. If this posting period is set as the current period, any posting date used in a new journal entry or a document will have to match this date range. When you type a date which deviates from this range, SAP Business One will display an error message.

You cannot define posting periods with overlapping posting dates. The posting dates in your posting periods have to be defined in succession. For example, the first posting date of a new period has to be a day after the last posting date of the previous period.

• Value Date From, To - Enter the required value date range for this posting period. The value date range can be longer than the posting dates range. If this posting period is set as the current period, any value date used in a new journal entry or a document in SAP Business One will have to match this date range. If you deviate from these dates, SAP Business One will display an error message.
• Tax Date From, To - Enter the required tax date range for this posting period. The tax dates range can be longer than the posting dates range. If this period is set as the current period, any tax date used in a new journal entry or a document in SAP Business One will have to match this date range. If you deviate from these dates SAP Business One will display an error message

You can define value and tax dates which deviate from the period's posting dates.

Value and tax dates can also overlap date ranges of other posting periods.

• Start of Fiscal Year – Enter the starting date of the fiscal year to which the period relates.

Add

Choose to add the new posting period. If you have chosen to create a period containing a number of sub-periods, these will be created automatically and will be divided according to the appropriate range of dates