You will want to update periods if you are not using months as your financial periods and you are running reconciliation reports within Bank Rec.
Otherwise, do not change periods - you're all set.
Not sure? Please contact us before updating Periods.
All Treasury Software products have a built in calendar called 'Periods', and they define the period when running a Reconciliation Report.
Periods are typically the end of each month. If you run the 'Periods' report (Reports > All Reports > Periods), it might look like this:
Changes to the Period table are permanent--and incorrect changes can render the account useless. Make a backup prior to modifying your Periods.
To modify your periods, navigate to Settings > Maintenance > Periods >Switch "Months" to a "Custom Period" reconciliation schedule.
Rule #1 - Golden Rule
Never change (or delete) a period which contains data--or any period before it.
If you have transactions in the period March 2018, you can only change periods April 2018 and after.
For example, you are currently using monthly Periods (default) and you want to change to a weekly basis.
First, run a report to view the latest transactions. For this example, it would March 29, 2018. Since the current periods are monthly, that means only periods after March 30, 2018 can be updated (deleted/added).
Rule #2 - Leave extra periods at the beginning
You must have at least 6 periods prior to the first transaction date (for reports) and for the prior period balance.
Therefore, if you plan on importing data starting January 1, 2018 - your first period (if months), should be July 2017.
How to change periods if you haven't imported any transactions to the account (easy)
You can either:
Manually add Periods
--Select all of the periods on the right side of the above image, then click 'Delete a Period'.
--Then manually on the left side of the above image, edit the date and then click 'Add a Period'. Note: Start with the earliest period to add.
--Click on the link in the image above labeled 'Change Periods from Months and/or import your list'
This will open the form below.
Use this form to import a list of periods. Since you're just starting out and you have no data in the account, select 'Replace'. The replace option will take care of deleting all of your current periods.
Period Import screen
How to change periods if you already have data in the account
First, determine the last period which contains data. For example, let's say that August 2022 is the last period with data in it.
Period Maintenance Screen
You can either:
Manually add/delete Periods
--On the Period Maintenance Screen, select the periods to delete, then click 'Delete a Period'. For this example, you would only click periods September 2022 or later.
--Then manually on the left side of the above image, edit the date and then click 'Add a Period'-- adding the periods starting with the earliest period.
--If you had originally set up the Periods manually, and now need to add additional Periods (after 12/31/2022, for instance), you can manually add them using this method. Scroll to the last 'Date Ending' date. Enter the next month-end date, then click to add the period.
--Delete the periods as noted in the 'Manual' section above. Note: We need to delete the periods here (versus the earlier example), because we won't be using the 'Replace' option in the next step.
--On the Period Maintenance Screen, click on the blue link labeled 'Change Periods from Months and/or import your list'
This will open the Period Import screen. Create a list of periods (in this example, your periods should start after August 2022--the last date with data).
Use this form to import a list of periods. Since you're keeping the list of periods August 2022 and prior, select 'Append' (not Replace). Note: Strike-through intentional.
Run a Period report to check you work (Reports > All Reports > Periods).