Create an accounting period and run trial balances
Learn how to create individual accounting periods for each organizational unit and run trial balances for open periods.
Each org. unit in a multi-org. environment transacts as an individual business unit. Therefore, users must create individual accounting periods for each organizational unit. When a new org. unit is created within the org hierarchy, an open-ended accounting period is automatically created for each new org unit. Users can later create an accounting period for the org unit based on their access permission.
Note: The accounting periods of all the child Org Units should be closed before closing the accounting period for the parent Org Unit.
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Set up accounting periods
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In the Company field, select the org. unit to create an accounting period.
You can run trial balances only for open accounting periods.
To run a trial balance proceed the following steps:
Note: You can run trial balances only for open accounting periods.
- Navigate to Finance > Accounting Periods.
- Run a Trial Balance .