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As the Time Ledger is set up your first time Period must be created. Your first time period sets the date and period that your practice will start working. For example 2003/01 as the 1st May to the 31st May.
If you are posting opening balances, it is recommended that your first time period is created for all opening balances to be posted into. For example, create a period 2002/12 for opening balances when your first timesheets will be posted into 2003/01. This will keep your opening balances and timesheet figures separate, and so the opening balances will be shown as a bought forward into the 2003/01 WIP figures.
To create your first Time Period:
Enter the Time Ledger.
Click Periods from the menu.
From the sub-menu click New Period.
Once you have registered this period changing your choice will involve reverting to a backup and losing any work since the backup.
The create new Time Ledger Period screen will be displayed. This option refers to the timespan of the new periods to be created. The options highlighted depend upon your period length, as selected in the Time Ledger General Options.:
One Year
Time Periods will be set up for a timespan of one year. This option is available when any period length is selected.
Half Year
Time Periods will be created for a timespan of half a year. This option is available for period length set to one week, half month and one month.
One Quarter
Time periods will be created for a timespan of one quarter (3 months). This option is available for periods with a length of one week, half month and one month.
One month
Time periods will be set up for the length of one month. This option is available for period length set to half month (where two periods will be created) or one month (where 1 period will be created).
Four weeks
Time Periods will be set up for the length of four weeks. This option is available when the period length is set to one week, two weeks and four weeks.
Two weeks
Time Periods will be set up for a time span of two weeks. This option is available when the period length is set to weekly or two weekly
One week
Time Period will be set up for a timespan of one week. This option is only available for when the period length is one week.
Click OK to confirm your selection or cancel to close. If one period is being created then a new period will be created as pending.
If your period length is set to one year the options above will not be presented.
When two or more periods are created then the New Time Ledger Periods to be created screen will be displayed:
Period
This will list the periods to be created. For example, this will show 2002/06, 2002/07, 2002/08.
From and To
For each period the start date and the end date is displayed. The start date confirms when the period is to begin and the end date represents when the period will end, with the difference being the length of the period. For example, start date 01/10/2002 and end date 31/10/2002. The period length will be one month.
The first ever Time Ledger Period screen displays.
The following fields must be completed:
Year
The time period year can reflect your practice financial year. For example, you could enter 2002 if your practice financial year started on the 1st May 2002.
Period Number
This number refers to the period number of the financial year. Click here for more information.
If you are posting opening balances, it is recommended that your first time period is created for all opening balances to be posted into. For example, create a period 2002/12 for opening balances when your first timesheets will be posted into 2003/01. This will keep your opening balances and timesheet figures separate, and so the opening balances will be shown as a bought forward into the 2003/01 WIP figures.
The period number must relate to the period length, as set in the time ledger options. For example, if you use monthly periods you will not be able to create your first period as 13 as there are not 13 months in the year.
1st Day of Period
Enter the day that you wish your time period to start. For more information on periods click here.
All time ledger period must have a start date and end date. If period length is set to monthly it is recommended that the 1st day of the period is the first day of the month. For example, 2002/1 could be the 1st of May.
Last Day of Period
A time ledger period must have an end date. If the time ledger period length is set to monthly it is recommended that the last day of the period is the last day of the month.
Click here for more information on periods.
Click OK to confirm your adjustments, or Cancel to close.