Datastream 7i gathers maintenance costs on an ongoing basis. When you are ready to process those costs, define closing periods. Typically, closing periods occur at the end of every month, although some companies process transactions on a quarterly basis. When the specified date arrives, the system freezes all of the relevant data, and a new costing period begins.
|
Define closing periods just before transferring transaction data to another system for account processing (general ledger, accounts payable, accounts receivable, etc.). |
Follow these steps to define closing periods.
Open the Closing periods form (BNCLPE).
Closing date—Enter the closing date for the period.
Choose File | Save from the menu bar. Datastream 7i saves the information to the database.