Adding an accounting period
An accounting period can be added either by clicking on the [Add Accounting Period] button available in the List menu which allows the user to add the accounting period directly in the list, or by clicking on the [Add through Form] button. If the second option is selected, the following accounting period form is opened:
Figure 73 Accounting period form.
Mandatory fields:
Symbol - in this field user can enter up to 50 characters (letters or digits), used for short description of an object. It must be unique.
Note: It’s impossible to add several accounting periods with the same symbols
In Comarch ALTUM it’s possible to define accounting period can be defined from date to date and it doesn’t have to last exactly 12 months so it doesn’t have to coincide with calendar year. It can last longer than 24 months and shorter than 1 month if such need occurs.
Other fields:
Opening Date – places an accounting period in time. This date can be entered manually or selected from a built-in calendar which is expanded by clicking on the arrow. The specified date is presented in the list of accounting periods
Period (in months) – this field is used for definition of length of an accounting period exact to month, e.g. when Opening Date is set to 2007-01-01 and Period (in months) to 6 months then in field Closing Date automatically will appear disabled date 2007-06-30. User can enter maximum value 100 – it will mean that closing date will be 100 months from opening date and 0 minimum – it will mean that an accounting period has the same date of opening and closing.
Closing Date – allows user to enter precise date of closing of an accounting period. It is used in situations when user wants to enter an accounting period which doesn’t last for a number of months but e.g. for 2 months and 2 days or 17 months and 20 days.
While adding a new accounting period the system automatically sets field Period (in months) to active, field Closing Date is disabled (it can’t be edited) but user can enable it by selecting mark next to label Closing Date. Then field Period (in months) will be non-editable.
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Figure 74 Options of defining the length of the accounting period.
Closed – marked field (on the form of accounting period) means that an accounting period is closed. No partial journals nor journal entries can be added to it and it can’t be edited. This check is used for marking inactive periods after when they period of obligation is finished. Accounting period isn’t closed automatically after exceeding closing date. Accounting period can be closed only by user.
Note: While closing a period the system displays message: “Are you sure you want to close this accounting period?”, it helps to avoid mistakes. Once closed period can be opened again. Closed period can’t be edited but it can be deleted if there was no posting made within its range of dates.
Description – in this field user can enter more detailed information about an object.
The entered changes can be saved by clicking [Save] in the Accounting button group.
Apart from the standard buttons, i.e.: [Add Accounting Period], [Add through Form], [Edit], [Delete], [Refresh], and [Close], in the List button group, there are also the following additional buttons in Actions button group:
1) [Set As Current] – sets an accounting period as currently valid. If user, saving a newly added period, doesn’t select it as current period he can do it later. He has to select proper period on a list and select button [Set as Current]. The system will save selected period as current. On the list it will be displayed as bolded element. In the system there can be only one current period but it can be also closed.
Note: To set a given accounting period as current, all other tabs must be closed.
2) [Divide into Months] – this button automatically divides a given accounting period into partial, monthly accounting periods. User has to select an accounting period which he wants to divide and select button [Divide into Months]. Created partial periods are listed chronologically (month by month). After dividing, on the list of periods next to period symbol a „plus” sign appears, which can be used to expand created list of months, and “minus” sign which rolls up this list.
3) [Divide into Quarters] – this button automatically divides a given accounting period into quarters, i.e. three-months periods. User has to select an accounting period which he wants to divide and select button [Divide into Quarters].
Quarters created after division can be edited (changed) and deleted from the level of menu group Partial Periods. All fields can be edited but user has to remember that Symbol must be unique. Opening and closing dates can ‘overlap’. Removal is preceded with proper message.
Buttons [Divide into Months] and [Divide into Quarters] were introduced in Comarch ALTUM system in order to make user work easier – he doesn’t have to add many partial accounting periods manually. Big convenience is the fact that user can freely edit them and delete, remembering however about unique symbols. The quarters are maintained by the buttons available in the Partial Periods button group.
The opening and closing dates of the partial periods may overlap one another. The removal of the partial periods is preceded by the confirmation message.
Example
Division of an accounting period which lasts e.g. 5 months and 20 days since 01-01-2007 by 20-06-2007:
Division into monthly partial accounting periods
The system divides period into six partial accounting periods, from which 5 will last a month and the sixth one will last 20 days.
Figure 75 Accounting period divided into months.
Division into quarterly partial accounting periods
The system divides period into two quarters, from which one will last three months and the other one will last 20 days
Figure 76 Accounting period divided into quarters.
4) Except automatic division of accounting periods into partial accounting periods user can add a partial accounting period using Edit in place function ([Add in Table] button) or through form. User has to select button [Add through Form] after selecting a period to which partial accounting period will be added. Then the system displays form of partial accounting period.
Figure 77 Form of partial accounting period.
Mandatory fields:
Symbol - in this field user can enter up to 50 characters (letters or digits), used for quick and easy identification of individual partial periods, e.g. shortage of name. It must be unique. It means that it’s impossible to add two or more periods with the same symbols. In such situation the system doesn’t allow user to save a period with already existing symbol by displaying proper message.
Note: It’s impossible to add several partial accounting periods with the same symbols.
Other fields:
Opening Date – allows user to enter precise date of opening of a partial accounting period.
Closing Date - allows user to enter precise date of closing of a partial accounting period.
The dates can be entered manually or selected from the built-in calendar. The expiration dates of the partial periods cannot exceed the expiration date of the accounting period. The system does not allow entering of invalid dates.
Description – in this field user can enter more detailed information about an object.