CLA’s Sage Intacct Spark #7: Are Your Reporting Periods Ready for 2019?
Based on your current reporting periods, does it look like Intacct thinks the world will come to an end in 2018 and there will be no need for budgeting or running reports after 12/31/2018? If you answered yes, but think Intacct is being a little too dramatic, read on to learn how to create your next year of reporting periods with just a few clicks.
Joking aside, one important reason you’ll want to allow Intacct to create your reporting periods is for budgeting. If budget periods are created manually, you could mistakenly add an extra space in the period name, for example. Then, Intacct will require that the extra space be in the reporting period when you import the budget. (Haven’t experienced this yet? Check out this blog post.)
So how do you create 2019 reporting periods?
Step 1: Check Existing Reporting Periods
Go To: Reporting > Setup Tab > Reporting Periods
Step 2: Navigation
Go To: Company > Setup Tab > Import Data
Step 3: Create the Reporting Periods
- Go to the Setup General Ledger Transactions section
- Find Reporting Periods
- Click the Default button.
- Then click Create.
Bonus Tip:
Need more than just one year forward? When using the create default reporting periods process, Intacct checks for the farthest in the future posted transaction. For example, if I have a statistical journal entry drafted in 2021, Intacct would create reporting periods for 2019 through the end of 2021. I would recommend drafting (no need to post) a statistical entry into the future, creating the default reporting periods, then deleting that future dated stat entry. Just don’t forget to delete!
What’s Next?
Marvel at how easily your new year of reporting periods were created. Did you count that it was 5 clicks total?
Check out the last 6 sparks and then subscribe to receive the final 4 via email! Questions? Contact us!
Kathy Jastrzebski is a manager with CLA’s Intacct team. CLA is an Intacct Premier Partner with a partnership that spans over 20 years and more than 1,000 successful implementations. Kathy brings five years of accounting experience along with seven years of Sage Intacct implementation experience. Along with her accounting experience, she has a passion for leveraging technology to lead finance teams worldwide through system implementations with a mission of increasing department efficiency through business process improvements.
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