Time flies. What a cliché. But as other popular clichés, this one is also true. Especially in business where everything is so dynamic – a month ends and another one starts and before you blink it’s a new quarter. When working with posting periods noticing the start and end dates is critical. When a period ends you can set its status to “Closing Period” so users will not be able to post documents or transactions to the previous period. If your posting period is a whole year this is a one-time task, but when working with shorter periods such as months or even weeks, this becomes a regular and even more critical task. For such cases, SAP Business One can change automatically the status of ended periods to “Closing Period” per your definition:
Select the checkbox and define how many days after the period end date the ‘Closing Period’ status should be applied. For example if you define 2 days, the users would know that they can still add documents and transactions to the previous period during the first two days of the new period.
Available in SAP Business One, version for SAP HANA and SAP Business One. This tip and all the other tips are available on the Tip of the week community page. You can also visit the Implementation Arena for useful implementation tips.