All financial transactions take place in a Period. Periods are set up in the Systems Maintenance module. The status of Periods with relation to the Fixed Asset Register, i.e. whether a period is open, closed or the current period, are maintained using this function. Periods are the means in which to group transactions for financial purposes within the Fixed Assets and General Ledger.
1. Select the Periods option from the maintenance menu options.
2. Once you have made this choice you will be presented with the Fixed Asset Periods dialogue box.
3. To change the status of a period, select the period or a range of periods in the table. The Properties button will become enabled, then press it to change the status. You will be presented with the Change Period Status dialogue box.
4. You can now select a different status.