Open New Period Utility

Use the Open New Period dialog box to open a new accounting period. If you have multiple companies, the new period is created for all companies, but you have the option to open it for all companies or just for the currently active company.

The new period automatically becomes your currently active period. Deltek provides default dates for the new period and fiscal year, but you can modify them if necessary.

To help prevent posting to the wrong period, Deltek recommends that you do not open a period for a company until you are ready to post to it. All posting and processing updates affect the period that is currently active when you perform the task. The dates of the posting file or processing run do not control the period that will be affected. If you open a period prematurely, you increase the risk of someone posting transactions with the wrong period active.

When you open a new period, Deltek records that action on the Posting Log Review report. The entry displays as an AL transaction type to indicate that it is an audit log posting.

Audit Trail

Deltek keeps track of periods that are opened and closed if the Open and Close Periods check box is selected on the Audit Trail tab of Settings > General > General System. Generate the Period Audit report in Reporting > Administration.