Before you create periods, verify the following items are created:

• Fiscal Years. To learn more, see Create a Fiscal Year.
• Companies

Before you can create a new period, you must create a fiscal year.

1. From the Fiscal Years page, click New.
2. On the New Fiscal Year page that is displayed, enter the required information in the following fields:
   • Fiscal Year
   • Company
   • Fiscal Year Start Date
   • Fiscal Year End Date
   • Retained Earnings. Retained earnings are automatically posted to this account when you close the year.

   To learn more about the Fiscal Year fields, see Fiscal Year Field Descriptions.

3. Click Save.

1. From the Periods page, click New.
2. On the New Period page that is displayed, enter the required information in the following fields for periods 01 through 12:
   • Company
   • Period
   • Period Start
   • Period End
   • Fiscal Year

   If this period is the first period you create, then this information is all that's required. However, if any periods were previously created, then you must enter a period in the Prior Period field.

   To learn more about the Period fields, see Period Field Descriptions.

3. Enter the required information in the following fields for period 13:
   • Company
   • Period
   • Type: Select Period 13
   • Fiscal Year
4. Optionally, enter additional information.
5. Click Save.

You are prevented from creating overlapping periods because a new period is automatically started immediately after the prior period ends. For example, 12:00 am on November 1st is the dividing line between the October and November periods. All transactions posted before 12:00 am on November 1st are assigned to October. All transactions posted at 12:00 am or later are assigned to November.

You enter a period start date only once—when you first configure Kenandy. After you set up the first period, you enter only period end dates in subsequent periods. Subsequent period start dates are automatically generated by using the end dates that you provide.

If accounting entries are posted to a period that has an incorrect date range, then delete the accounting entries, clear the checkbox for the Open field of the prior period, correct the end date and time of the prior period, and regenerate the accounting entries. For example, if Period 12 incorrectly ends at 12:00 am on December 31st, accounting entries posted on December 31st do not apply to Period 12, but to the subsequent period. For this example, delete the accounting entries for the subsequent period, clear the checkbox for the Open field of Period 12, change the end date and time for Period 12 to 12:00 am on January 1st, and regenerate the accounting entries.

A GL area has a discrete collection of source documents. Each type of source document has its own accounting. Accounting rules that you set up determine this accounting.

For example, the AP (Accounts Payable) GL area consists of supplier invoices and supplier payments. Each source document type (each supplier invoice and supplier payment) posts an accounting entry (debit or credit). The specific source documents associated with specific GL areas are preconfigured in Kenandy.

Source Documents for Each GL Area

GL Area	Source Documents
Accounts Payable (AP)	Supplier invoices (including supplier credits) Supplier payments
Accounts Receivable (AR)	Customer invoices (including customer credits) Customer receipts
Fixed Assets	Fixed asset depreciation Fixed asset adjustments
Intercompany	Invoices Payments
Receiving	Receiving documents Inventory changes
Inventory	Inventory changes

Note: When you create manual journal entries, you can post them to the appropriate account. Accounting rules determine the appropriate account.

The last day of the period is the cutoff date for the GL area by default. The time of the cutoff for the GL area is the time that you establish when you first set up Kenandy. You must close every GL area in a period before you can close the period.

The following table lists the fields that Kenandy provides. Your system administrator selects the fields that are displayed on your user interface.

Fiscal Year Page

Field	Description
Company	The company associated with the fiscal year.
Fiscal Year End Date	The date this fiscal year ends.
Fiscal Year	The name for the fiscal year—typically just the year (2014, 2015, and so on).
Fiscal Year Start Date	The date this fiscal year begins.
Primary Key	An automatically-populated key that uniquely identifies the fiscal year.
Retained Earnings	The GL Account to which the journal entry containing retained earnings is posted.

The following table lists the fields that Kenandy provides. Your system administrator selects the fields that are displayed on your user interface.

Period Page

Field	Description
Adjustment Period	An indication of whether the period is an adjustment period.
AP Closed	The date and time this GL area was closed. If no date and time stamp is displayed, this GL area is open.
AP Cutoff	The date in the accounting cycle when accounting entries are no longer automatically generated for this GL area for this period. After this date, you must book additional entries for the period as manual journal entries. The last day of the period is the cutoff date for each GL area.
AP Valid After	After this date, this GL area is ready to be validated. The last day of the period is the valid-after date for each GL area.
AR Closed	The date and time this GL area was closed. If no date and time stamp is displayed, this GL area is open.
AR Cutoff	The date in the accounting cycle when accounting entries are no longer automatically generated for this GL area for this period. After this date, you must book additional entries for the period as manual journal entries. The last day of the period is the cutoff date for each GL area.
AR Valid After	After this date, this GL area is ready to be validated. The last day of the period is the valid-after date for each GL area.
Closed	An indication of whether the period is closed. You can re-open a closed period to enter changes. If the period is permanently closed, you cannot change the period.
Company	The company associated with the period.
Corporate	An indication of whether the period belongs to a corporate calendar.
Delete Obsolete Accounting Entries	An indication whether the obsolete accounting entries for the period are deleted when you run the Delete Obsolete Accounting Entries batch job, if those entries apply to a date before the date of the batch job.
FA Closed	The date and time this GL area was closed. If no date and time stamp is displayed, this GL area is open.
FA Cutoff	The date in the accounting cycle when accounting entries are no longer automatically generated for this GL area for this period. After this date, you must book additional entries for the period as manual journal entries. The last day of the period is the cutoff date for each GL area.
FA Valid After	After this date, this GL area is ready to be validated. The last day of the period is the valid-after date for each GL area.
Fiscal	An indication of whether the period belongs to a fiscal calendar.
Fiscal Year	The fiscal year for the period.
GL Close	The date and time that the GL was closed. If no date and time stamp is displayed in this field, the GL is open.
InterCompany Closed	The date and time this GL area was closed. If no date and time stamp is displayed, this GL area is open.
InterCompany Cutoff	The date in the accounting cycle when accounting entries are no longer automatically generated for this GL area for this period (for transactions0. After this date, you must book additional entries for the period as manual journal entries. The last day of the period is the cutoff date for each GL area.
InterCompany Valid After	After this date, this GL area is ready to be validated. The last day of the period is the valid-after date for each GL area.
Inventory Closed	The date and time this GL area was closed. If no date and time stamp is displayed, this GL area is open.
Inventory Cutoff	The date in the accounting cycle when accounting entries are no longer automatically generated for this GL area for this period (for transactions). After this date, you must book additional entries for the period as manual journal entries. The last day of the period is the cutoff date for each GL area.
Inventory Valid After	After this date, this GL area is ready to be validated. The last day of the period is the valid-after date for each GL area.
JE Cutoff	The cutoff date and time for the journal entries. The last day of the period is the cutoff date for each GL area.
JE Valid After	After this date, this GL area is ready to be validated. The last day of the period is the valid-after date for each GL area.
Next Period	The next open period after the period.
Open	An indication of whether the period is open.
Period	The range of time in which financial transactions and accounting entries occur.
Period Closed	The date and time that the period was closed. If no date and time stamp is displayed in this field, the period is open.
Period Close Job	The ID of the most recent batch that includes the period. When the job completes, the job ID is automatically removed from this field and a date and time stamp is displayed in the Period Closed field.
Period End	The date and time that the period actually ends.
Period Number	The period number, which is typically 1-12 or 1-13.
Period Start	The date and time that the period actually starts.
Permanently Closed	An indication of whether the period is permanently closed and no modifications can be made to it.
Primary Key	An automatically-populated key that uniquely identifies the period.
Prior Period	The previous period for the period.
Quarter Number	The quarter to which the period belongs (for example, 1, 2, 3, or 4).
Receiving Closed	The date and time this GL area was closed. If no date and time stamp is displayed, this GL area is open.
Receiving Cutoff	The date in the accounting cycle when accounting entries are no longer automatically generated for this GL area for this period. After this date, you must book additional entries for the period as manual journal entries. The last day of the period is the cutoff date for each GL area.
Receiving Valid After	After this date, this GL area is ready to be validated. The last day of the period is the valid-after date for each GL area.
Shipment Closed	The date and time this GL area was closed. If no date and time stamp is displayed, this GL area is open.
Shipment Cutoff	The date in the accounting cycle when accounting entries are no longer automatically generated for this GL area for this period. After this date, you must book additional entries for the period as manual journal entries. The last day of the period is the cutoff date for each GL area.
Shipment Valid After	After this date, this GL area is ready to be validated. The last day of the period is the valid-after date for each GL area.
Tax	An indication of whether the period belongs to a tax calendar.
Type	The type of period. Options include Fiscal and Period 13. This field is automatically populated with a value of Fiscal.
Year End Date	The year in which the calendar (corporate, tax, or fiscal) ends.
Year Start Date	The year in which the calendar (corporate, tax, or fiscal) starts.