13th Period Transactions
If 13 (thirteen) accounting periods are selected when the fiscal year is set in the company file, AccountEdge still divides your fiscal year into 12 calendar months. The 13th period allows for adjustments that impact the year to date balance without affecting figures of a specific month in the company's financial data.
To enter a transaction for the 13th-period, an asterisk (*) needs to be entered before the transaction's date (e.g., *12/31/20xx), in the date field. Regardless of the date entered after the asterisk, that month's accounting records will not be affected by the entry.
Transactions for the 13th-period can be entered in the General Journal Entry, Spend Money and Receive Money windows only.
During the Start a New Fiscal Year process, the number of periods can be changed from 12 to 13. The number of periods can be changed from 13 to 12 only if no transactions have been posted in the 13th period of the fiscal year just completed.
When generating reports (e.g., Balance Sheet), be sure to select Customize in order to select the 13th period, which will be available only when the 13 accounting periods is configured.
To display 13th-period transactions in the Transaction Journal, indicate an asterisk (*) date (e.g., *12/31/20xx), in the From and To date fields.