Should Sales and Purchasing Fiscal Periods be closed?

I know every month we close the Fiscal Periods for the Financial Series, but 
should all other series in use be closed as well (Sales, Purchasing, 
Inventory)?

Thanks,

-- 
Hector Herrera
Business Systems Analyst II
Northwestern Medical Faculty Foundation
Chicago, IL USA
0
10/20/2009 7:25:06 PM
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If you don't want anyone posting transactions in those series after
the end of the period they should be closed.  All checking the box in
Fiscal Period closing does is prevent further transaction posting in
that series.

If you're interested in a full discussion of Fiscal and Calendar Year
closing, see my recent posts on that topic here -
http://gp2themax.blogspot.com/search/label/Year%20End%20Close.

Frank Hamelly
MCP-GP, MCT, MVP
East Coast Dynamics
www.eastcoast-dynamics.com

get your gptip42today at www.gp2themax.blogspot.com
0
fhamelly1 (1405)
10/20/2009 8:42:10 PM
Aboslutely.  It is all to easy for a user to type in an incorrect date and 
post to the wrong period.

Close all future and past periods.
-- 
Richard L. Whaley
Author / Consultant / MVP 2006-2008
Documentation for Software Users

Get our Free Tips and Tricks Newsletter and check out our books at 
http://www.AccoladePublications.com



"Hector Herrera" wrote:

> I know every month we close the Fiscal Periods for the Financial Series, but 
> should all other series in use be closed as well (Sales, Purchasing, 
> Inventory)?
> 
> Thanks,
> 
> -- 
> Hector Herrera
> Business Systems Analyst II
> Northwestern Medical Faculty Foundation
> Chicago, IL USA
0
info4071 (3001)
10/21/2009 5:57:26 AM
Thanks Richard and Frank! That helps.

-- 
Hector Herrera
Business Systems Analyst II
Northwestern Medical Faculty Foundation
Chicago, IL USA


"Richard Whaley -- MVP 2006-2008" wrote:

> Aboslutely.  It is all to easy for a user to type in an incorrect date and 
> post to the wrong period.
> 
> Close all future and past periods.
> -- 
> Richard L. Whaley
> Author / Consultant / MVP 2006-2008
> Documentation for Software Users
> 
> Get our Free Tips and Tricks Newsletter and check out our books at 
> http://www.AccoladePublications.com
> 
> 
> 
> "Hector Herrera" wrote:
> 
> > I know every month we close the Fiscal Periods for the Financial Series, but 
> > should all other series in use be closed as well (Sales, Purchasing, 
> > Inventory)?
> > 
> > Thanks,
> > 
> > -- 
> > Hector Herrera
> > Business Systems Analyst II
> > Northwestern Medical Faculty Foundation
> > Chicago, IL USA
0
10/29/2009 2:15:01 PM
Reply:

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