Setting Up Accounting Periods

Derek Torres
Derek Torres
  • Updated

Important Note: PartsLedger is now PartsManager. PartsManager retains all of the parts purchasing and warehouse management automation benefits of its predecessor. To read more about this exciting change, click here.

 

The Accounting Periods section of PartsManager, formerly known as PartsLedger, allows you to create Accounting Periods (fiscal years) to manage monthly periods within each year.

IMPORTANT: We recommend that a Full Admin-user at your company closes each accounting period month in PartsManager shortly after the end of that specific month. Then, do a standard review to ensure it’s right before inputting it into an accounting system.

Closing periods in PartsManager will not affect your accounting systems or integrations, and you will need to close those manually.

 

How to Close an Accounting Period Month

  1. On the Navigation Bar, click Admin
  2. Then click Acc. Periods
  3. Click the period you want to open to display a list of the Accounting Period Months.
  4. Click the Lock icon next to the relevant Accounting Period Month.
  5. Click Confirm.
  6. Then, do a standard review to ensure it’s right before inputting it into an accounting system.

    IMPORTANT: We recommend that a Full Admin-user at your company closes each accounting period month in PartsManager shortly after the end of that specific month. Then, do a standard review to ensure it’s right before inputting it into an accounting system.

    Closing periods in PartsManager will not affect your accounting systems or integrations, and you will need to close those manually.

    PartsLedger - Accounting Month Close.gif

How to Manually Add an Accounting Period

  1. On the Navigation Bar, click Admin
  2. Then click Acc. Periods
  3. Click Add Year After.
  4. This will create a new Accounting Period, Accounting periods will be by month and all months will automatically start on the 1st, so there isn’t any manual resetting of dates.

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