Below you'll find PDF guides detailing the period-based and date-based Products end-of-period procedure and checklists.
Products Period-Based EOP procedure and checklist
📌Note:
Period-based end-of-periodis defined as an accounting system where transactions are entered into periods.
A period lasts until an end-of-period is run, typically at the end of a month.
Any entered transactions count towards the current period and are posted to the corresponding GL Period (typically 12 monthly periods).
Use the Product Status report to reconcile to the GL.
Products Date-Based EOP procedure and checklist
📌Note:
Date Based end of period for Products is run as when transactions are allocated to GL periods solely based on the Transaction Date.
The Product Status by Date report is used to reconcile to the GL.
The Date Based Sales option in Product Options should be selected.
An End of Year should be processed for housekeeping purposes.