Updating Fiscal Period Status History in PENTA

Owned by Claire Aleman
04 30, 2019

Issue/Symptom/Question

Where do I go to change the Fiscal Period Status History from Restricted to Unrestricted? 

Applies To

PENTA for Windows

Finance & Accounting > Processing > Fiscal Period Status History

Resolution/Fix/Answer

The Fiscal Period Status History window allows you to modify or view the fiscal period status for a given Balance Sheet Organizational Unit (OU). This window allows you to restrict or un-restrict an accounting period to accounting transactions and allows you to mark an accounting period as having gone through the final close, which further restricts access to post to that accounting period.

Process:

  1. The window opens in query mode. Enter a Balance Sheet OU Id.
  2. Click the toolbar’s Enter Query button to execute the query. PENTA displays the requested OUs as well as the associated fiscal period status history information. The Balance Sheet OU Id description also displays to the right of the OU Id value.
  3. You can update the fiscal period status by clicking one of the following buttons:
    1. The Restrict/Unrestrict Accounting Period button.
    2. The Set/Remove Reported Status button.
  4. Use the Restrict Accounting Period button to restrict access to an accounting period. Use this button to restrict access.
    1. This button is only available when the status of the current record is “Unrestricted”
    2. This button is only accessible by users with an Accounting Entry Authorization Level of 2, 3, or 4. PENTA does not display the button for users with an authorization level of 1
    3. When you restrict access for a parent Balance Sheet OU Id, all child Balance Sheets are also marked as ‘Restricted’
  5. Use the Unrestrict Accounting Period button to re-open a previously restricted accounting period.
    1. PENTA only enables this button when the current record’s status is “Restricted.”
    2. Only users with an Accounting Entry Authorization Level of 2, 3, or 4 can access this button. Users with an Authorization Level of 1 do not see this button.
    3. When you allow access for a parent Balance Sheet OU Id, PENTA prompts the user with a question to determine if all child Balance Sheets should also be marked as unrestricted.
      1. Specify Yes to allow access to this accounting period for all children Balance Sheet OU Ids, or
      2. Specify No to allow access to the parent Balance Sheet OU Id and force the children Balance Sheet OUs to remain with a ‘Restricted’ status.
    4. The window does not allow you to provide access to an accounting period at a child Balance Sheet OU level when the parent Balance Sheet OU is marked as “Restricted.” PENTA displays an error message when you attempt to perform this function.
  6. Use the Set Reported Status button to mark an accounting period as “Final Close.” You typically use this button if the OU is closed, should have an indicator that it went through the final accounting period close, and you do not want new transactions posted to the period.
    1. This button is only available when the status of the current record is “Closed.”
    2. This button is only accessible by users with an Accounting Entry Authorization Level of 3 or 4. PENTA does not display the button for those users with an authorization level of 1 or 2.
  7. Use the Remove Reported Status button to remove the final close designation from an accounting period. This is typically the case when the OU has been closed and marked as having gone through the final accounting period close, but where the final close designation was either entered inadvertently or where users with an authorization level of 3 must be allowed to post accounting transactions in the closed period.
    1. This button is only available when the status of the current record is “Final, Reported.”
    2. This button is only accessible by those users with an Accounting Entry Authorization Level of 4. PENTA does not display the button for users with an authorization level of 1, 2, or 3.
  8. Use the Check for Uncompleted Transactions pop-up window to determine what open transactions currently exist for the current Balance Sheet OU Id and accounting period.
  9. Use the Status Change History pop-up window to review status change history for a Balance Sheet OU Id and accounting period. PENTA displays the following information when you click on the pop-up window.

You cannot edit the following fields in this window; they are for display only:

    • Fiscal Year: PENTA displays the fiscal year associated with the current record.
    • Accounting Period #: PENTA displays the accounting period number associated with the current record.
    • Status: PENTA displays the status code changes.
    • Date: PENTA displays the actual date of the change.
    • Time: PENTA displays the actual time of the change.
    • User: PENTA displays the user who made the status code change.
    • Auto/Manual: PENTA indicates whether the status code change was manual or automatic:
    • Auto: The status code update occurred when a user processed an accounting period close.
    • Manual: The status code update occurred by a user in this window outside of the Accounting Period Close process.