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special posting period

hi,

1) why need to have 4 additional special posting period?

2) what would be the issue if only have 1 or 2 special posting period.

thanks

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    author's profile photo Former Member
    Former Member
    Posted on Sep 27, 2007 at 04:39 AM

    Hi Eliana,

    the purpose of having four special periods is only to make a distinction among different postings. There is not time duration specified for each posting period. You can as well have only one spl period. Let us take an example, after year ending is done, you can use first spl period for year ending provision entries, second spl period for entries suggested by directors, thrid for entries suggested by auditors and so on. I repeat, special periods do not contain specific no of days.

    Regards

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  • author's profile photo Former Member
    Former Member
    Posted on Sep 27, 2007 at 06:26 AM

    Hi

    In addition to the inputs given by other sapient's,you may just consider this.

    First of all the normal period are equivalent to months. But special periods are not months.The special periods are the extension for the last posting period that is 12th period.

    In other wards special periods are like version control we use in softwware.These periods are required for passing the adjustment entries. And there is no hard and fast rule that a company will use the special period. The concept is used to have a clear cut distinction between what is the development happened .

    Cheers.

    Hope this is clear to you now.

    Surendra

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  • author's profile photo Former Member
    Former Member
    Posted on Sep 27, 2007 at 04:43 AM

    Hello

    Irrespective of how you have defined your fiscal year, you can also use special periods. Special periods subdivide the year-end closing period. They therefore merely divide the last posting period into several closing periods. This enables you to create several supplementary financial statements.

    A fiscal year usually has 12 posting periods. In General Ledger Accounting, you can define up to four special periods

    If you do not need 12 posting periods, you can use the posting periods that are not required as special periods. If you use these additional closing periods, you must specify the number you require in the field No. special periods. when defining the fiscal year variants. You cannot exceed a maximum of 16 periods.

    Integration

    When posting to special periods, you must take the following into consideration:

    The posting date must fall within the last regular posting period.

    You have to enter the special periods in the document header in the Period field, since the special periods cannot be determined automatically by the system.

    Reg

    *assign points if useful

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  • Posted on Sep 27, 2007 at 05:25 AM

    Hi,

    I am including some more inputs for special period,After closing financial year auditor adjustments and tax adjustmens will be post to this special period the 4 special periods will be usind different fashion one compnay to other company.Normally after completing balance carryforward we will do the above adjustments when you post to this adjustments into special period system automatically carryforward there is no need to once again run.

    REgards,

    SAtya

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