Manage Subperiods
Use this screen to add subperiods within an accounting period.
You can also use this screen to indicate whether or not a particular subperiod is available for data entry. Use the table window on this screen to indicate the same Open or Not Available status for individual transaction screens.
You cannot make changes to a subperiod of an adjustment period. Instead make changes to the adjustment period on the Manage Accounting Periods screen. Costpoint will apply the changes you make on the adjustment period to the subperiod and the Open All Journals button will be disabled.
A subperiod is a period of time smaller than an accounting period into which you can enter accounting data and for which you can print reports. Although accounting periods must be formally closed, subperiods do not. You can have up to 99 subperiods in a fiscal year. For an adjustment period, you can only have one subperiod.
Costpoint sets up one subperiod automatically when you add an accounting period. If you require project reports more frequently than once each accounting period, you can also set up weekly, semi-monthly, or bi-weekly subperiods.
The fiscal year and accounting period must already exist before you can set up subperiods for that accounting period. If you plan to use more than one subperiod per accounting period, you must set up the additional subperiods before entering any transactions.
Deltek recommends that you set up the last closed accounting period when setting up periods initially. For example, if you decide to have four subperiods in each period, and you are setting up period 1 of fiscal year 2011 as your current open period, also add period 1 of 2010 to represent period 12 of fiscal year 2010 as your last closed period. (Because a period 12 cannot exist without periods 1 through 11, period 1 of 2010 will hold the information of period 12, 2010.)
Costpoint uses period dates in many modules to validate transaction dates. For the example above, assume that the subperiod ending date for period 12, subperiod 4 is 12/31/2010. You would enter into Costpoint that period 1, subperiod 4, 2010 had a period ending date of 12/31/2010. The subperiod ending date for period 1, subperiod 1, 2011 is 01/07/2011. When you later enter transactions for period 1, subperiod 1, 2011, Costpoint validates the transaction dates against these end dates to ensure that transactions entered into this period have a date between 01/01/2011 and 01/07/2011. If you do not add the last closed subperiod, Costpoint is unable to perform this validation. As a result, transactions entered for the wrong year could be accepted as valid.
For periods designated as adjustment periods, the period and subperiod ending date will automatically default as the ending date of the last “regular” (that is, non-adjustment) period of the fiscal year.