How to setup the financial period
User Document: Period End Maintenance
For System Administrator only. The periods and their statuses in Workbench must be reconciled with those in the financial software used by your organisation. If you are not thoroughly acquainted with these, please consult with your organisation's accounting or finance team.
Instructions
Go to the System Setup \ General \ Period ends.
Choose the appropriate filters to display all existing periods on the system screen.
Enter the current year, current period value.
Click on Create Periods button
Enter the quantity of periods from the current period until the end of fiscal year.
Click on Create button. New periods will be appeared on the screen.
Go to each line and edit the Year No, Period No, Period End Date.
Click on Save button.
Click on the desired module columns to indicate which ones have been closed for the specified period.
Click on Save button when done.