Field Description - Period Closing Date

The Period Closing Date is the date after which no more transactions should be posted for the period.

Tips:

• If the Check Closing Date Option is set to Y(es) during Application Option Parameters, then the General Ledger programs warn you if you try to generate journal entries with Posting Dates beyond the Period Closing Date.  The warning can be overridden.

• If this option is set to N(o), then there is no warning if you generate a journal entry with a Posting Date beyond the Period Closing Date.

• The year on each Period Closing Date is incremented by one when you run Update Master Accounts during the Year-End.

Where-Maintained:  Period Descriptions Maintenance

Format:  Date (mmddccyy - slashes and century optional)