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Pro Gold i2 Online User Manual

 

Chapter 2 - Setting Financial Periods

Navigation                

  • Pro Gold XP Main Menu => Accounting Tab =>  Financial Periods Icon

    • Helpful Hints

  • Use the Financial Periods Icon on the accounting tab to create and manage financial periods
  • Working with financial periods is completely optional
  • If you elect to use financial periods, you can use close option to prevent transactions from being written to a period and preserve the integrity of previously written financial statements
  • Use the Financial Periods Icon on the accounting tab to create and manage financial periods
  • The Financial Periods screen allows you to create a period, view the status of each period, or close a period
  • To Create a new period:
    1. Open Financial Periods screen
    2. Select the year by using the arrows in the upper right portion of the screen
    3. Select the New Common Periods option in the lower left
    4. Select the 12 Months option at the Create Common Period screen
    5. Select appropriate start month
    6. Click Ok and your period is established
    7. Open subsequent periods as needed
  • Closing established financial periods is optional, however, it is highly recommended
  • Closing periods prevents transactions from being written to a period preserving the integrity of previously written financial statements
  • Some companies close at the end of each month, but most typically hold a year open until their accountant has completed all final adjustments which is normally 3-4 months after the end of the period
  • Instructions for closing financial periods are provided in Appendix I

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