Posting Period Setup Concepts

Use this workspace to set up posting periods.

You can have two open posting periods: one for G/L, and another for job cost. Both open posting periods can be generic or company-specific.

The open job cost posting period represents the posting interval for all job cost entries (for example, time and expense sheet entries, job allocation entries, and so forth), while an open G/L posting period represents the posting interval for all finance entries.

You can create complex setups. For example, you can allow time sheets only between September 1 and September 30, expense sheets between September 2 and September 30, and customer payments between September 3 and September 30. However, if you do not need this complexity, you are not required to create it.

You can create complex setups. For example, you can allow time sheets only between September 1 and September 30, expense sheets between September 2 and September 30, and customer payments between September 3 and September 30. However, if you do not need this complexity, you are not required to create it.

Maconomy determines the posting periods for a specific transaction made by a specific company as follows:

Find the posting period setup for the company.

In the posting period setup, find the posting periods for the transaction group that includes the transaction type.

A posting period setup must cover all transaction types.

By default, all companies use the standard setup. If your company needs a different setup, create a company-specific setup and link it to the company in the Company Information workspace.

Additionally, you can:

• Create a new posting period setup.
• Validate posting period setup.
• Copy posting period setup.
• Delete posting periods setup.
• Add posting period setup lines.
• Delete posting period setup lines.