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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 IMOS - 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 IMOS - 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

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1. Set the period Status to Finalized and set the Last Month Closed as the last day of the fiscal year.
2. Use the Open Months column to specify which months are open for any posting. This will allow any postings, including invoices, journals, and cash settlements.
   • During your month-end close process, you may choose to restrict the months open to only the month to be closed and the next open month.
3. Once the month is closed, remove it from the Open Months column and select any additional months that should remain open.

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