> Change Posting Period

Change Posting Period

You use this program to change the financial period into which you want to post transactions within a particular module. The International Accounting Standards rule that governs posting entries into prior periods/years is IAS8.

Select Posting Month

Field Description
Select  
Post to

You can post transactions to the current, previous one or previous two months, providing the access status for the period is set to Open in all the applicable modules and the ledger period to which you want to post the transaction is Open within the relevant module and within all the integrated modules.

Option Description
Current month Select this to post transactions to the current month of the applicable module for the current run of the program.
Previous month 1 Select this to post transactions to the previous month of the applicable module for the current run of the program.
Previous month 2 Select this to post transactions to the month before last of the applicable module for the current run of the program.
Current Year

This displays all the period end dates and open/closed status of posting months within the Current financial year.

You cannot change the status of the period. This can only be done from within the individual modules' setup programs.
Previous Year

This displays all the period end dates and open/closed status of posting months within the Previous financial year.

You cannot change the status of the period. This can only be done from within the individual modules' setup programs.

Notes and warnings

Open/Close status

  • You cannot post transactions to a ledger period that is closed.
  • For sub-modules integrated to General Ledger or another module, the period in the General Ledger and the other module must also be open.
  • The status of a period can only be changed from within the setup options of each module.
  • Future period postings are possible only through subsidiary modules.
  • When posting inter-company transactions, both companies must be in the same General Ledger period and the period's access status for the selected module and integrated modules must be set to Open.
  • You can only post Adjustments, Bin transfers and Expense issues to a previous posting month using the Inventory Movements program if you enabled the option Retain last 12 months' opening balance (Inventory Setup).

Password considerations

Password access to the following functions in this program may be defined in the Password Definition program. When defined, the password must be entered before you can access the function.

Field Description
AP Posting to a previous month This password restricts access to posting Accounts Payable transactions to a previous period (see Multi-period accounting).
AR Posting to a previous month This password restricts access to posting Accounts Receivable transactions to a previous period (see Multi-period accounting).
CB posting to a previous month This password restricts access to posting Cash Book transactions to a previous period (see Multi-period accounting).
Inv Posting to a previous month This password restricts access to posting Inventory transactions to a previous period (see Multi-period accounting).
WIP Posting to a previous month This password restricts access to posting Work in Progress transactions to a previous period (see Multi-period accounting).

Hints and tips

Prevent postings to prior periods

  • You can prevent operators from posting transactions to prior months by closing off prior periods or by assigning passwords to prevent the unauthorized postings to prior periods.

  • To close the previous month automatically when you complete the month end for each relevant module, enable the Close previous month automatically setup option (Company Maintenance). This is useful if you typically only post to the current month. However, you will need to manually reopen a prior month if you need to post transactions to that month.

  • To set the status of a period manually, access the Period tab against the setup program of each module.

  • You use the Password Definition program to allocate a password to each of the relevant SYSPRO modules which is requested when an operator attempts to change the posting period from the current month to a previous month.