Following a year end process, the periods showing at the bottom of the application all show as C1, but we are currently posting to C12 in the stock periods. When I raise an invoice in the Debtors or Creditors ledgers, these default to C12. What do these mean?
Why can I not post to N1 after a sales ledger year end?
The periods shown at the bottom of the screen are in relation to the Nominal ledger. However, when posting a transaction the year/period relative to the ledger itself should be used. Therefore, where the sales ledger shows as N, using C1 for a Sales invoice will post to year C in sales and N in the nominal.
Debtors and Creditors ledgers and reports will process as for the year of that ledger, so if you run the aged debtors at C12 after a year end, it relates to the year you are processing in - so you would need to run it at L12 to see the data for before the year end.
The Stock Periods, found via Stock, Stock Periods, defines the default period that invoice register entries, sales, purchase or works orders, and stock movement journals, will default to when raised. Each entry bases its posting on the state of the corresponding ledger in the Financials section of the software, rather than the Nominal ledger. The Stock Periods works independently of the Period End process in the ledgers and must be maintained manually
Transactions in the Financials, Debtors and Creditors ledgers will default to closest open period based on their date and the posting permissions of the user's security profile. The period range can be found via the System area, under Application Configuration, System Configuration, in the Ledger Defaults tab. Security profiles can also be found in the System area.
Example:
The year runs from 1st April to 31st March, with each period spanning one month. The current date falls into the next April after the year start. There is still a need to post journals and purchase invoices into March of the current year, but new purchase orders and stock movements need to be posted to April of the next year by default.
Therefore, period ends have been run in the Financials and Creditors ledgers up to period 12 of the current year, but the Debtors ledger has had a year end run and sits in period 1 of the following year.
The bottom of the screen shows as:
Sales: N1 - This is in the next year as compared to the Nominal.
Purchase: C12 - Same year as the Nominal.
Nominal: C12 - This is always C as it is the base for the two ledgers above.
The stock periods show:
Nominal Ledger N1 - Stock movements default to April of the next year but can be changed to C12 if they need to post to March of the current one.
Purchase Ledger N1 - As for the Nominal, the default is April but can be changed to March if required.
Sales Ledger C1 - The Sales ledger is in next year compared to the Nominal, but the stock periods relate to the year in the Sales ledger and so this is C rather than N. The same would be true for the Purchase Ledger if that were a year ahead of the Nominal.
Based on the current open period:
A Financials ledger journal or Creditors ledger transaction for March will post to C12 as that period is open in the ledgers.
A Debtors ledger transaction for March will post to C1, as this is the nearest open period, in the sales ledger, but this corresponds to N1 in the Nominal.
A Financials ledger journal or Creditors ledger transaction for April will post based on the date to N1 as long as the user has permission to post ahead - otherwise it will post to C12.
A Debtors ledger transaction for April will post to C1 in the sales ledger as this is the correct period based on the date for that ledger.