Open New Period Utility

Use the Open New Period utility to open a new accounting period. The new period becomes the "current period." You can modify the dates of the new period before you open the period.

In general, Deltek recommends that you do not open a period until you are ready to post to it. Because the new period becomes the current period, you will need to post to the prior period, and run reports and process in the prior period, once you open the next period. All posting and processing updates affect the period in which you are performing the task. The dates of the posting file or processing run do not control the period that will be affected.

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