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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. On the Financials menu …, > under Setup , > click Account Periods.

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Defining Account Periods

To define Account Periods:

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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.

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

   1. Accounts Payable: Control account to be defaulted for the AP side of all payable transactions

   2. Accounts Receivable

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3. 1. : Control account to be defaulted for the AR side of all receivable transactions.

   2. Retained Earnings: If you do not enter a default Retained Earnings account, you may receive a large Unknown amount on your Trial Balance report.

   3. Clearance: The clearance account functions like a temporary account where a payment amount is held temporarily before eventually flowing to the bank account. This account operates as a holding account until the actual invoice comes to book the cost.

   4. Interbank Transfer

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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.

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Exchange Difference

3. 1. Exchange Difference: To be used for Period Foreign Exchange Adjustments. 

   2. Intercompany: If the client does business with internal companies – this is a more advanced topic.

Account Periods by Company

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• Finalized (F): All postings are blocked

• Partial (P): All postings are blocked. But accruals and payments are enabled only for the Last Month Closed.

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

Note: If payments are interfaced in (autopay.exe), please check if CFGAutopayAllowPartiallyClosedPeriodPayment CFGAutopayAllowPartiallyClosedPeriodPayment is enabled in your environment. Otherwise, the interface will fail with the message "account period has been closed" and "ImportAutopayPayments failed with error code 1003". Example:

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