The Business Edge allows you the flexibility to begin work in a new month or year while you are still finishing off a previous month/year. You also have the ability to enter transactions or make adjustments in previous months if needed. This flexibility is made possible using the Posting Date Ranges.
Posting dates play a crucial role in accounting. They help to ensure that all transactions are recorded accurately and in the correct period. Posting dates prevent users from entering transactions in prior periods once you have completed your financials.
Based on your companies’ procedures, at the start of each new month or new year the system administrator must Change the Posting Date Ranges. This can be done in the System Administrator System or through General Ledger File Maintenance. The Posting Date Ranges is how you can control the dates in which transactions can be done.
General Ledger System
General Ledger File Maintenance
Enter & Edit Posting Date Ranges
Or
Utilities
System Administrator System
Enter & Edit Posting Date Ranges
The posting date ranges can be set for a fiscal year or accounting period, but it can also be a specific time frame that suits your organization's needs. You can change the posting dates all at once using the buttons on the right-hand side to Advance the Beginning and/or Ending Dates. You also have the ability to change them individually.
At any time, you can also go back and change them if you need to open up a prior period. It is common that you may finish your yearly work and your accountant provides you with some adjusting entries a couple months later. You can simply go back into the Posting Date Ranges and open up the earliest date for journal entries. Make your entries and close it back up again.
Sales Order Date and Purchase Order Dates do not affect the General Ledger and should be open as far back as you could have an open document.
