Set Accounting Period

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This function allows the user to "close" the current accounting period and open a new one. Each charge, payment and adjustment transaction is "stamped" with the current accounting period. An accounting period (or month) may be held open until all charges, payments, and adjustments are posted.

The benefits of accounting period over posted date as a reporting period is that the user doesn't have to remember what posting date range defines a month for a specific practice. When all work has been entered and posted, the user simply "closes" the accounting period.

Set Practice Accounting Period Tab

Practice

Select the practice to be closed from the drop-down list.

Current Period

Displays the current accounting period for the practice.

Next Period

Displays the "next" accounting period for the practice.

When the Ok button is pressed, the Next Period becomes the "Current" Period.

Update Posted Accounting Period Tab

Financial Type

Select Payment or Visit

Posted Date

Enter the desired Posted Date

Accounting Period

Select the Accounting Period to associate with the Posted Date

Select Apply to save the change.