Hello Jenni,

Adagio Ledger allows you to open and close periods at will. It's just a check box in the fiscal calender. Transactions applied to closed periods will not post and will be written to an error batch. Your CFO can decide whether to open the period and post them, or edit the fiscal period.

There is a whole day event planned in Surrey on October 30 to demonstrate what's been added to Adagio in the recent releases, and what to expect in Adagio Ledger V9.0 when you install it. The next release of the general ledger supports unlimited years of history (including the budgets and transaction details) and a "soft" year end. This is an all day training event including material and lunch for $395 (early bird registration).

If you have specific features that you are interested in seeing, then you can post them here or send an e-mail with your suggestion to me (Andrew.Bates (at) softrak.com). We are especially interested in improvements our clients would like to see in Adagio Receivables and Adagio Payables as we prepare for the Version 9.0 development.

I would just like to thank Jenni for finally getting the point across about closing periods in the subledgers. My attempt on this exact topic back on June 28th must have fallen on deaf ears. I guess that since no one could understand why I would want to close off the subledgers I let the topic die. Again, Jenni, thank you for pursuing this.

Hi Sonia,

Your thread didn't fall on deaf ears - in fact I said this would be addressed in the 9.0 releases as they came out. The date handling has to be done as an option because, as Steve pointed out early in this thread, there are some companies where this would be operationally impossible. The AP clerk needs to be able to date the invoice as it is received. It is the controller's job to decide what period to post the transaction to.

Adagio Ledger has been able to close periods since it was originally released in 1999, and ACCPAC Plus could before that. In my experience however, very few people find the time to edit the fiscal calender and actually mark the period as closed.

Perhaps we should have a menu choice that just performs that function?

Hello All,

Not being able to check in for a while, I was oblivious to all the great posts that continued on this topic. Jenni - does agreeing with you always cause this much attention

From the comments I'm seeing, I'm quite positive that we'll see an improvement in this area in the 9.0 versions

BTW - All sub-ledgers should have the "option" to restrict posting to closed GL periods, not just AP - and once it's only an "option" almost everyone should be happy because you can just leave it off if you don't want it.

Pete

Hey Peter, what a novel idea. Give people a "choice". I like your thinking.
I, too, haven't been checking the forums for a while, but I'll now make a point of checking in a couple times a week.

OK Guys - sorry for the redundancy in my previous post. I had not realised that the topic went to a second page in my browser.

BTW - Hope v9 will get to that Peachtree-like "Date Field" entry logic that I discuss with SteveW and/or Andrew at every AOCs since 2001...

Although a "disallow posting to closed period" could be used in some companies, I question its practical value.

Payables invoices are entered with their actual date so the aging and due dates are correct. Checks are entered with their actual dates so the bank account information is maintained correctly.

However, when the GL period is closed, any prior period transactions are not posted but moved to a separate batch, so the controller can chose how to post them. When financials have been published or sent to the bank, then these transactions would be recognized in the current period rather than the closed one. Since the payables aged transactions report would also have been done already and reconciled to the AP account in GL, the fact that these are dated earlier would have no impact.

They will impact the AP before the end of the current period and will impact the GL for the current period.

On the other hand, I would not like to see transactions assigned other dates in order to move them to other periods. I think this has the potential to create havoc with the books, and would raise many questions during an audit.

I don't have any problem with the way Adagio handles the fiscal periods and payables. I like that you can enter the actual date of an invoice and have it go into the next fiscal period if the one it applies to is closed.

We run a report when we want to close payables for the month and balance that with the ledger. After that when retrieving the payables into the general ledger we change from choosing the fiscal period by the date of the invoice to using the current period. Then at the start of the next month we change it to choose the fiscal period by the date.

In our case the AP clerk is the one going into the general ledger and doing the retrieval. So we're not changing anything in a "closed" period in the ledger anyway, and I'm not that concerned about it if we have to run any payables reports after the close either because we know it balanced.