Inserting a New Journal Period

Overview

Use this procedure to insert a new journal period. A journal period is an interval of time for financial reporting. Journal periods have a beginning and ending date. This date range is a primary factor when you post journal entries, for example: when you post system journal entries, the date on each journal entry is compared to the date range to determine if the journal may be posted. The SJI journal period numbers do not have to match those in General Ledger. System journal entries may be created on a daily or weekly basis and posted in a monthly journal period in General Ledger.

To select a new journal period:

1. From the Toolbar, click LDG for General Ledger.

2. From the General Ledger menu, Select Journal Period.

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3. Click Insert.

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4. At the Begin a New Fiscal Year? prompt, Click Yes or No.

5. In the End Date box, verify the date, if it is not correct type the correct date.

6. Click OK.

7. At the Will This Be The Current Default Period?, Click Yes.

Learn more about the General Ledger feature: