Accounting Periods

Mohammed Jamal Updated by Mohammed Jamal

Accounting Period records are used to establish the specific date ranges required for accurate financial reporting and data exports. While these can be automated through a workflow to trigger on a set schedule—such as five days after a month ends—many users prefer manual creation to maintain flexibility. This manual approach is often necessary because the "official" closing date for a period may shift month-to-month based on business needs or third-party finance system requirements.

To ensure data integrity, it is recommended to create the new period's record only after a few working days have passed in the new month. This buffer allows all transactions from the previous month to be fully and accurately posted before the period is finalised. It is critical to exercise caution during this process, as records cannot be deleted once saved. Furthermore, avoid creating periods too far in advance, particularly when using accrual-based functionality like "Client By Charges," to prevent reporting discrepancies.

Accounting Period records CANNOT be deleted once created, so please be careful prior to saving a record.

To set up an Accounting Period record:

  1. Navigate to Settings > Configuration > Finance Admin.
  2. Expand Care Provider Invoicing, and select Accounting Periods.
  3. Select the Create new record button on the toolbar.
  4. Select the Period From. This field automatically defaults to the day after the previous record’s end date to ensure there are no gaps in your financial timeline. For the first accounting period only, you may manually enter a start date; for all subsequent records, this field is read-only and cannot be changed.
  5. Select the Period To. Enter the end date for the accounting period. While this date can be set during the initial creation of the record, it remains editable afterward to allow for flexible month-end closing. However, once a subsequent period is created, this date becomes read-only to maintain the integrity of the sequence.
  6. Use the drop-down to select the Client Charges by Period Criteria from the following options:

• Accounting Period / Client / Establishment

• Accounting Period / Person Contract

• Accounting Period / Person Contract Service

This value does not need to be recorded on the first record. Instead it can be recorded on any record where Current Period? = Yes (see below). It will indicate that Client by Charges Period records will only commence from this record's Period From date.

Once a value has been recorded, all subsequent records will automatically use this value and cannot be changed.
  1. Select the Client Charges Including VAT. This setting determines:

• No (Default): The values to aggregate in BO = Client Charges by period exclude VAT and therefore will use the Net Amount recorded on Finance Invoices/Finance Transactions

• Yes: The values to aggregate in BO = Client Charges by period include VAT and therefore will use the Gross Amount recorded on Finance Invoices/Finance Transactions

A User must select this on the same Accounting Period record where Client Charges By Period Criteria is saved, so therefore may not be on the first record. Every record thereafter will use the same value and cannot be changed. The likely setting will be No and as Charges do not attract VAT.

  1. Select the Current Period. Automatically Defaults = Yes and is Read only and cannot be changed by a User. Once a record does NOT have Current Period? = Yes, then ALL fields are Read Only (and cannot be changed, Except Responsible Team)
  2. Select the Previous Period. Automatically Defaults = No and is Read only and cannot be changed by a User. Instead, when the next Accounting period record is created, this will automatically default = Yes.
  3. Select the Save button on the toolbar.
  4. After you save the record, select the Debts Outstanding Upto Date field appear. This is only visible on the first Account Period record.

Was this article useful?

Person Absences

Contact