How far into the future should you create Accounting Periods

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4 comments

  • Rebecca Ralls

    I agree that's probably not best practice.  Most companies can't close one month quickly enough to not lose information for the following month if it's not open until the preceeding month is closed.  

    What is it they're trying to restrict?

    You could set up custom permission sets and validation rules to grant/deny posting access to particular periods or modeules (like AR/AP) based on custom flags you put in place on the periods.  

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  • Cpinto

    They are trying to ensure transactions such as Sales Orders and the allocations for lets say January SO's post to January even though it is Feb 2nd today.  At the same time they are concerned that February transactions could get posted to January inadvertently because both periods are open. 

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  • Rebecca Ralls

    You can often create validation rules to prevent that. For example, if there’s a delivery date on the SO, you can prevent SOIM from being in a different period.

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  • Rebecca Ralls

    You just have to be a little creative, and find out if there’s any systematic way to determine what period a transaction *should* be in. - opportunity close date or SO shipment date etc.

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