Accounting Period
In Popular MOSES, the time of operation is divided into months called accounting periods. Each period has its own status which can be one of the following.
Period Status |
Explanation |
Open |
The period is free for doing any transactions |
Closed |
No transaction can be done in a closed period. Usually a period should be closed when the accountants have reported the financial figures to management or auditors so that the figures will not be modified by other users accidentally. |
In audit |
Only manual journal can be added in an “in audit” period. This is useful when accountants need to make any audit adjustment. |
You must have an accounting period added before you can do any transactions in the corresponding period of time. Therefore you need to add new accounting period before a new month comes. You can add accounting periods ahead of time (e.g. 24 months from now), but you run the risk of users entering future transactions too early by mistake.
