Controlling Purchasing Periods
Use the Control Purchasing Periods window to control the purchasing periods defined in the Accounting Calendar window. You use purchasing periods to create journal entries in your general ledger system. Purchasing lets you create journal entries only for transactions you enter in an open purchasing period. You create general ledger journal entries when encumbering requisitions, purchase orders or accruing receipts.
If you use encumbrance or budgetary control, Purchasing verifies that the GL Dates you provide on purchase order distributions and requisition distributions are within an open purchasing period. See: Budgetary Control and Online Funds Checking
Prerequisites
Before using this window you should define your purchasing periods in the Accounting Calendar window. See: Defining Calendars.
To control purchasing periods:
Purchasing displays the Period Status, Period Number, Fiscal Year, Period Name, Begin Date, and End Date for each existing period.
2. In the Period Status field, you have the following options:
Closed - Use this option to close this purchasing period. When you close a purchasing period, Purchasing does not allow further accruals during this period. Purchasing reverses the status of accrued purchase order lines so that you can accrue them in the next period if you want.
Future - Use this option if you want to open this purchase period in the future. This option is available only when the current status is Never Opened.
Never Opened - Purchasing displays this default status if you have not opened this period in the past.
Open - Use this option to open this purchasing period.
Permanently Closed - Use this option if you do not want to open this period in the future. This option is irreversible.
See Also
Defining Purchasing Options
Controlling the Status of AP Accounting Periods
