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Administrator Guide
Last Updated: 2023-06-23
Steps: Create and Open Ledger Years and Periods

Steps: Create and Open Ledger Years and Periods

  • Establish the fiscal year on which to base the ledger year and its periods.
  • Create a fiscal schedule using the
    Create Fiscal Schedule
     task.
  • Associate the fiscal schedule with the company using the
    Edit Company Accounting Details
     task.
  • Create ledgers.
Establish ledger years and ledger periods for each of your companies so that you can record journal entries to their ledgers.
  1. Access the
    Create Ledger Year and Ledger Periods
     task.
    You can select any fiscal year available for the selected company ledger that doesn't already have a ledger year and periods.
    Security:
    Set Up: Ledger and Book
     domain in the Common Financial Management Functional area.
  2. Access the
    Update Ledger Period Status
     task.
    Change the Status of the ledger period to
    Open
     for periods within the ledger year.
    If you have enabled journal sequencing for the company, then you must create sequence ID generators before you can open the ledger period.
    Security:
    Process: Period End
     domain in the Common Financial Management Functional area.
Record journal entries to your company ledgers in the open ledger periods.