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Setting up Accounting Periods


After defining the general ledger account structure and the first month and day of your fiscal year, you can begin to set up the accounting periods and the general ledger chart of accounts in the eTEK™ Accounting  system.
First, we will set up the accounting periods.  New accounting periods will need to be built at the beginning of each fiscal year.  They can be set up according to Monthly, 4 Weeks, Daily or User Defined periods.
Note:  Once the accounting periods have been selected, the number of accounting periods cannot be changed and all future fiscal years must use the same accounting period structure.
To set up the accounting periods, complete the following procedures.  Remember, once the accounting periods have been set up, they cannot be changed or edited.
1. Select the Data Entry tab, System Utilities Module and double-click on the Module step Accounting Periods Setup.
2. When the screen is displayed, your cursor will be in the field labeled Fiscal Year.  Enter the fiscal year in which you will be entering accounting data.  You should enter the year in which the last month of your fiscal year falls.  Example:  If the fiscal year starts 07/01/99 and ends 06/30/00, the Fiscal Year date should be entered as 2000.
3. After you enter the fiscal year, a message will appear to confirm the accounting periods for the selected year.  If you are sure the fiscal year is correct, press [OK].  If you are uncertain, press [Cancel]. 
4. Next, choose the number of annual periods in your company's fiscal year.  After you select one of the options, you will receive a message reminding you the accounting periods cannot be changed once they are setup.  
5. Continue setting up future accounting periods in the same way -or- Press [Close Window] to save the changes and return to the Main Module.