TRAVERSE Global v11.1

Period Conversion

Use the Period Conversion function to specify the general ledger accounting periods for a company and to close or open accounting periods by application.

After you close an accounting period, transactions (invoices, payments, cash receipts, and so forth) cannot be posted to a closed fiscal period. Instead, a warning message displays. You must then either edit the transactions or reopen the GL account period to post them. For all applications other than GL you will be allowed to post to a closed period, but you will be given a warning message and you will be allowed to continue.

ClosedOpening and Closing Accounting Periods
  1. Select the company whose period you want to close from the Company ID field.
  2. Select the fiscal year with which to work from the Fiscal Year field.
    Note: If the year you want is not listed, such as a future year, type the year into the Fiscal Year field. When you exit the field, TRAVERSE will ask if you want to set up periods for that year for the selected company. Click Yes to have TRAVERSE set up the new periods.
  3. Edit, if applicable, the beginning date for the periods in the Begin Date field.
  4. Edit, if applicable, the ending date for the period in the End Date field.
    Note: Verify periods begin and end on the correct days to ensure no days are missing in the fiscal year.
  5. Select the check box of an application period to close the accounting period for that application or clear the check box of an application period to open the accounting period for that application.
    Note: Close application accounting periods that post to General Ledger, then close the General Ledger accounting period.
  6. Enter any notes for the accounting period in the Notes field.
  7. Close the screen to save any changes made to the period conversion.
ClosedDeleting Period Conversion Data
  1. Select the company whose period conversion data you want to delete from the Company ID field.
  2. Select a fiscal year to delete the period conversion data for the selected year from the Fiscal Year field.
  3. Click the Delete button, on the toolbar, to delete the period conversion data for the selected year.
  4. Click Yes at the "Do you want to delete period conversion data for <year>?" prompt.