What Happens when I Close an Accounts Receivable Period?

 

•The current period's transactions are moved to history files.

•The current period files are cleared up to the specified ending date.

•The paid invoices are removed from the accounts receivable file.

•Any unnecessary files are found and erased.

•Empty or negative quantity lots can be removed from inventory.

•All closed purchase orders are purged from the data files.

•Period sales history is updated in the customer, inventory and vendor files.

•The system will re-index the files as part of the closing process.

 

When Should I Close the Period?

 

This varies from company to company. Periods are closed to reduce the amount of data in the files the entrée system uses most often. Smaller companies should be able to have 2 to 3 months worth of transactions in the current file before noticing a significant system lag. Larger companies on the other hand may only be able to keep 1 to 2 months open.

 

•After closing the period, you will not be able to change invoices for that period.

 

▪You can, however, reprint them through the Extend and Print Invoices utility.

▪You could also view them through the Change Invoice utility.

 

•Most companies usually leave 1 months worth of data in the current files at all times.