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Period End Processing in IMMS is a Process by which transactions and entries of a particular period are locked before starting with the next Period. This saves the previous data and prevents unauthorized people from tempering it.
Processing is done as per the structure of the Period decided by the company. It is a Company's prerogative to decide the duration of the Periods depending on its style of working. For example, an organization's financial year can be divided in quarters. Therefore, each quarter will have 3 months and so there will be 4 quarters in a financial year. Similarly some companies may divide their financial year into two halves. Each halve will have 6 months. Financial year can also be divided monthly that is 12 months equally. Periods of a Company are specified through Period End Dates Setting option.
In IMMS, there are transactions which can be entered only if they fall within the date range of currently active Period. Once the last date of the currently active Period is reached, it becomes compulsory to execute the Period End Process. Once this Process is run for the current Period, all the transactions belonging to it are locked. This effectively means that neither new transactions can be entered nor the existing ones can be changed in that Period. But it is possible to view them.
Once the current Period is processed, only than the next Period will become available to work in. And once all the Periods are Processed, Year End Processing should be carried out.
It is compulsory for all other Users currently working in IMMS to log out before the Process can start.
Also once the Process is executed, it is mandatory for the User to log out of IMMS and log in again so that the next Period can become active.
A list of Sites belonging to the currently logged-in Company along with their Current Period will be displayed as follows -
Enter any text you want to search in the list below. The search is applicable to all columns of the list. Once the text is entered, press <ENTER> key. As a result, the list will be refreshed with all those records that contain the entered text fully or partially. In order to go back to the original list, remove the text from the box and press <ENTER> key again.
Period End can be added provided the Role associated with the currently logged-in user through User Management has the respective rights to do so.
To 'Add' a Period End, click on the button. As a result, following screen will be displayed -
Denotes the Site of the Company for which Year End Processing has to be done.
Click on the field to access a list of already existing Sites belonging to the current Company defined through Site Master option. Select your desired Site from the list by clicking on it. Alternatively you can also enter the Site Code.
The Current Period running on IMMS will be displayed by default. It is compulsory to execute Period End Process for the current period. You can not change it.
The next Period will be displayed automatically for your reference. You can not change it. Once the Period End process is complete, this Period will automatically become active.
Click on 'Save' button to finally start the Period End Process. Click on 'Cancel' icon to discard.
Please note that it is compulsory for all other Users currently working in IMMS to log out. Only than the Period End Process will be executed. Following message will be displayed to inform -
While processing, IMMS may display certain messages to inform the User about the current status of different transactions that need attention. The User is supposed to take a decision whether to rectify or continue with the Process. For example, there may be certain transactions in Store & Inventory Module that are still pending to be authorized. A message to this effect will be shown as follows -
IMMS also generates a report with a list of all such Transactions for User's reference. Now the User can decide whether to continue with the Process or exit. Click on 'Yes' button if you still want to continue with the Period End Process. Otherwise click on 'No' button. The processing will be aborted immediately.
Once the Period End Process is completed, it is compulsory for the user to log out of IMMS and log in again so that the new Period can become effective. Following message will be displayed -
Click on 'Ok' button to come back to main menu. Now you should log out of IMMS and log in again to start working in new Period.