Hi there,

We just started implementing BaaN IV.

Could anybody please tell how to define a correction period in session maintain period. If I want to define 12 normal periods and one correction period, should we define number of periods as 13 in group company parameters? Please explain.

Regards,

Harish.

If you want 12 "normal" periods and one correction period, you need to define 13 fiscal periods in the Group Company Parameters.

The 13th period will be used to post the journal voucher entry for Automatic Balancing of P&L accounts during the close year procedure. (This is the journal entry that closes current year P&L account balances to the balance sheet -- normally to retained earnings -- prior to creating opening balances for the new fiscal year.)

By using 13 periods, you will still be able to print/report/analyze annual P&L and trial balances for the old fiscal year (periods 1-12). Otherwise, the balancing entry would be posted to perid 12.

Scott