Add Site Financial Periods

Automatically configure Site Financial Periods for a Site Financial Year so that budgets and actual costs can be captured.

How to… Add Site Financial Periods for a Site Financial Year

1. Click then Site Financial Periods in the toolbar on the Site Financial Year edit window.
The Site Financial Periods for Site Financial Year window opens

2. Change the Budget Conversion Rate if necessary.

As a result...

A record is automatically created for each of the twelve (12) Financial Periods in the Site Financial Year based on the Start Date and End Date for the Site Financial Year.

Data fields

These data fields are captured or displayed on the window.

Field	Description
Code	A unique code that identifies the Site Financial Period. For example “2020 March”.
Start Date	The date of the first day of the Site Financial Period. For example “2020/03/01” if the date format is “YYYY/MM/DD”.
End Date	The date of the last day of the Site Financial Period. For example “2020/03/31” if the date format is “YYYY/MM/DD”.
Open	Ticked if the Site Financial Period is open.
Budget Conversion Rate	The conversion rate from the Site Currency to the Base Currency.
Site Currency	The currency in which the Site operates.
Base Currency	The currency used by the organisation for reporting purposes.
Notes	Any descriptive details that support the Site Financial Year and Site Financial Periods.

Business rules

Consecutive open Site Financial Periods cannot have overlapping dates.

Please note!

Site Financial Periods are automatically configured.
The system automatically determines the Site Financial Periods between the Start Date and End Date in a Site Financial Year. This saves time as the Start Date and End Date of each Site Financial Period does not have to be entered.

What can I do?

These non-standard tools are available on the Site Financial Periods for Site Financial Year window.

Click…

To…

Close Selected Financial Periods

Close selected Site Financial Periods that are no longer open for transaction posting.

The following message appears.

Click Yes to close the selected Site Financial Periods.