Period Setup Utility

Use the Period Setup utility to close and reopen accounting periods, set up the number of periods per year, and change the starting and ending dates for each accounting period. If you use multiple companies, you can open or close a period for the active company only or for all companies.

Closed Periods

It is not necessary to close a period in Vantagepoint. You can have multiple open periods at any time. However, Deltek recommends that you close a period after you process all data and print all reports for the period.

You can perform any function in a prior or closed period if your security role is authorized to do so. However, if neither Allow Processing in Closed Periods nor Allow Processing in Prior Periods is selected for your security role, you cannot perform the following functions:

• Transaction Center
• Accounting
• Billing
• Payroll

Audit Trail

Vantagepoint keeps track of periods that are opened and closed if the Open and Close Periods check box is selected in Settings > General > Audit Trail. You can generate the Period Audit report in Reporting > Administration.