Posting Calendar

The Posting Calendar screen allows you to add and define posting periods for all companies. Each posting period has a collection of posting dates, which are the days a company sets to post transactions for an associated posting period. Posting periods are subdivisions of a year. There can only be one posting calendar for the system.

Companies will typically use either:

  • Monthly Format: Posting periods will usually correspond with calendar months, although companies may choose to close their periods on an earlier day in the month, e.g. 25th.
  • 4-4-5 Format: First and second periods will contain 4 weeks and the third period will contain 5 weeks. This format will also result in 12 posting periods per year.
  • 4 Week Period: Each period will have 4 weeks. This format will result in 13 posting periods per year.

General

In the General area, enter general information about the posting calendar.

Field Description
Code Displays 1 as the default code for the posting calendar. This value cannot be changed.
Name Enter a name to describe the posting calendar. The name does not have to be unique.

Posting Periods

In the Posting Periods area, enter information about the posting periods.

Field Description
Code Enter a unique code for the posting period.
Name Enter a name to describe the posting period.
Short Name Enter the abbreviated name for dashboard usage. This usually does not contain the year.
  Stage

Select the current stage of the posting period. It controls whether the posting period is available for transactions.

Available selections include:

  • Future: The posting period is not yet available for posting. This stage allows you to define posting periods for future use without making them available to users when posting transactions.
  • Open: This posting period is available for transactions.
  • Adjustment: The posting period is available for post-closing journal entries only.
  • Pending Close: The posting period is only available to users with appropriate authorization.
  • Closed: The posting period is not available for transactions.

Generally, all input documents are limited to choice of Posting Dates (defined below) that belong to a Posting Period in an Open or Pending Close stage. There are exceptions to this rule:

  • Documents that allow posting to Open, Pending Close and Adjustment stages: General Ledger Summary, Journal Entry, Journal Entry Void, Realized Gain / Loss Criteria, Revenue Journal Entry Criteria, Statistical Ledger Entry, and Unrealized Gain / Loss Criteria.
  • Documents that are not limited by stage: Allocation Request, Allocation Entry, and Bank Reconciliation.
  • Documents that post to the earliest Open period : Project.
  Quarter

Select the quarter that the posting period belongs to.
Year Enter the calendar year associated with the posting period.
Period

Enter the period number. This is defined as a period of financial and project activity within a year. If companies use a monthly format, this would correspond with a calendar month. The period must be between 1-99.

Posting Dates

In the Posting Dates area, enter information for the posting dates in the posting period. A posting date can only exist within a single posting period. For each posting date, you can define the input documents that are allowed to post transactions for that date.

Field Description
Posting Date Enter the date within the posting period that will be available for transactions.
Include in Timesheet Calendar

Defines which posting dates in the posting calendar are eligible as Document Dates for timesheets. These are Qualifying Document Dates.

Select if this posting date should update the calendar dates available for timesheets. If this is selected, then every date between this posting date and the last posting date with this field selected are available on a timesheet that uses this posting date.

  Name

Enter a description of the posting date.
Regular Inputs Allowed

Defines which posting dates are eligible as Posting Dates for documents. The date must also belong to a Posting Period with a stage of Open or Pending Close to be considered a Qualifying Posting Date. Exceptions to that limitation are noted under Stage above.

Select the regular input document types that can use this posting date. For example, Voucher, Bill, etc.

Void Inputs Allowed Select the void input document types that can use this posting date. For example, Bill Void, etc.