05 Time Period

Definition: What is it?

Time periods are a defined period of time (usually a month, quarter or year) that is used to group business transactions. It is a key part of any general accounting setup.

What is it used for?

TO CHECK: The minimum setup required for OFBiz is a financial year (eg 1st April - 31st March) as one of the validation checks of accounting transactions is to verify that a time period has been setup for the transaction to be posted to.
Time periods can be used for the definition of :

• Company Financial Year
• Fiscal / Tax Periods (weeks, months, quarters)
• VAT / GST Periods
• Sales Periods

Any others ?

What's on the screen?

 TO DO: Add a screenshot

How do I add a new time period?

TO DO

How do I update a time period?

TO DO

How do I close a time period?

TO DO