Posting periods in SAP Business One are periods of time that define your company's fiscal year. They are used in generating financial reports and segmenting your financial postings. Periods can be setup in a multitude of ways depending on your company's processes surrounding reporting and financials. Managing the posting periods in SAP B1 center around their five possible statuses.
Posting Period Status
Each posting period will have a status. You can see the status of your posting periods by navigating to Administration -> System Initialization -> Posting Periods on the main menu. Their are five possible status, but only four are directly set.
Unlocked - Posting Period Status
The status is the normal status for a posting period which is active and current. All users may post to this period all types of transactions and documents. It is the default posting period and will be assigned automatically to any new posting periods that you create.
Unlocked Except Sales - Period Status
You should give your posting periods the unlocked except sales status when the period has ended by date, but still may have purchasing documents and other similar transactions. This status will prevent sales from occurring i.g. backdated that fall into this posting period.
Period Closing - Period Status
This status is for when the posting period has ended and all late documents have been posted to the period. You may still post to the period while in this status but the authorization "Period - End Closing" must be given to the users who will be performing the postings. For all purposes, this period is closed all but the financial team who will be tying up the loose ends of the periods transactions.
Locked - Period Status
When a period is marked as "locked" it is completely closed to postings. New documents or transactions can not be posted to this period anymore. The status signifies that this period is ready for year-end closing. Make sure you perform all adjustments needed before setting this status.
Archived - Period Status
Nothing can be posted to an archived posting period. Firstly, the period must be set to "locked" and the period must be older than two years. Then, using the data archive wizard, you may archive your posting period.
As you can see, the posting period statuses have very specialized meanings and it can be easy to forget them! Bookmark our page and you'll have the definitions handy when you need them.
Setting Posting Period Status
To set the posting period status on a period, navigate to Administration -> System Initialization -> Posting Periods. The "posting periods" window will pop up and you'll see your periods on a grid. To the far left you will see the familiar "golden arrow". Click on the arrow next to the posting period you'd like to change. There will be a drop down list called "period status" that has the four available posting period statuses. Remember, you can only set a period as archived if you use the data archive wizard.
To simplify managing your posting periods SAP Business One has included the option to automatically set your posting periods to "closing period" after a certain time has passed. On the "posting periods" window there is a check box labeled "Automatic Change of Period Status to 'Closing Period'". When checked you will be able to type in the number of days after which SAP B1 will automatically set the posting period status to "Closing Period".