Use this tab to record the fiscal periods used in the general ledger. Transactions from a payroll period are posted to the financial period described on this tab. These dates are the periods in the financial system that comprise your organization’s financial year.
Click New to record a financial period. The Accounting Periods window is displayed. Type the pay period and the equivalent financial period in the fields, and click Save to save the details. You can then use the window to record more financial periods for the year.
When you process your year end, the system automatically creates a set of general ledger integration periods for the new tax year. You should check them to ensure they are correct.
For information about the details you enter on the Audit tab, click here.