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The Account Periods form performs multiple functions for voyage accounting, including determining open and closed periods within an account year and defaulting specific account types to defined ledger codes. Before you can use the Account Periods form, you must first configure the Chart of Accounts for your company.

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1. Add a row for each fiscal Year.
2. For each year, enter a Closing Date, which determines the end of the fiscal year.
   • To configure different Account Periods per Company Code, on a new row, enter an existing fiscal year and the Company Code.
     Note: For each year, you must maintain a row with no Company Code specified, or you may receive warnings that your account periods have not been initialized correctly.

3. For each period, enter the default ledger code from the Chart of Accounts for each of these accounts:

   • Accounts Payable
   • Accounts Receivable
   • Clearance
   • Interbank Transfer
   • Retained Earnings
     Note: If you do not enter a default Retained Earnings account, you may receive a large Unknown amount on your Trial Balance report.
   • Exchange Difference
   • Intercompany

Account Periods by Company

You can also set up the Account Periods for separate internal companies. If you do so, you will need to create an additional line without any Company specified.

Account Period Statuses

The Status field determines the ability to post to each period through the Last Month Closed:

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If the Status and/or Last Month Closed fields are blank, all postings are enabled through the end of the fiscal year.

Note: If the Last Month Closed date is not specified, nothing will be blocked even if the status is P. For status F, you can leave the Last Month Closed date blank.

Controlling Account Periods

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