It is possible to enable a 'Soft Close' of Financials periods while allowing the Working Periods to roll forward. The option to set this up is in the System Options which is security profile permission driven and is called 'Enable Working Periods'.
It is sometimes referred to as Soft Close as you are not hard closing a period yet as you will allow some users to continue to post to this soft closed or restricted period.
When this option is on, it is then possible to advance the Working Period without running a Ledger Period End, leaving the Ledger Periods open so that financials changes for month end procedures are limited to only those users who have the permission to do so.
A security permission option 'Post to Restricted Periods' that is found under System Security Options controls whether a user can post into the 'soft closed ledger periods' or just the open, current periods.
For more information about the rules surrounding the soft close or working periods, please refer to the table towards the end of this article.
As default, the soft close or enable working periods is turned off.
Turn on Soft Close or Working Periods
You need to have access to the System Module to be able to follow the steps below.
Click System then Options then click System Options.
Note: The System Options opens.Select the Dates and Periods tab then click on the Edit button at the top of the toolbar.
On the Settings section, select the 'Enable Working Periods' checkbox.
Note: You will see extra fields displayed on the right hand-side of the screen called Working Periods for the Sales, Purchase and Nominal Ledgers. The periods will be copied from the Periods checkboxes above.Click Save.
Note: You have enabled the Soft Close or Working Periods functionality in Financials.
Add the Post to Restricted Periods permission for a security profile
You need to have access to the System Module and the Security option within the System Module.
Click System then Security then click Future Period Posting Permissions.
Note: All security profiles are listed for you.Select the profile you wish to grant the permission to by highlighting it with your mouse.
Click on the Edit button at the top of the toolbar to set the record in edit mode.
Under the Settings section, select the Post To Restricted Periods checkbox.
Click Save.
Note: You have added the permission for every user that is linked to this security profile to post into soft closed periods.
Advance a period using the soft close option
Click Debtors then Utilities then click Period End.
On the Sales Period End screen, click on the drop-down on the 'Carry out a' field.
You should see an option called Period Soft Close which confirms that you have turned on the Enable Working Periods in your Financials system.
Once you have advanced your period using the Period Soft Close option in any of the ledgers, the Working Periods in the System Options will display the Working Period number for the relevant ledger.
Example:
Your Period are displayed as follows within the System Options, Options, System Options Dates and Periods:
Ledger | Periods |
S/L (Sales Ledger) | 10 |
P/L (Purchase Ledger) | 8 |
N/L (Nominal Ledger) | 6 |
You have run a Period Soft Close on your Sales Ledger, so your Working Periods are displayed as follows:
Ledger | Working Periods |
S/L (Sales Ledger) | 11 |
P/L (Purchase Ledger) | 8 |
N/L (Nominal Ledger) | 6 |
Rules regarding the Soft Close and Enable Restricted Periods
Rule | Possible prompts |
The working period can be more than 1 period in advance of the open period. |
|
The working period can be in next year. |
|
The Working Period cannot be earlier than the open period. |
|
The working period cannot be further ahead than Next Year period 12 or 13 in a 13 period system. |
|
Nominal Ledger working period cannot be further ahead than Sales and Purchase Ledger working periods. |
|
On selecting to advance the working period the you will be warned that users will be unable to post to open periods prior to the new working period. |
|