Accounting Period Creation Impact

mgmutha

Hi,

Can I know the difference between accounting period creation method for Financial Year 01-04-11 To 31-03-12.

Pros and Cons between (Option a) and (Option b):

a) Starting Date = 01-04-11 (DDMMYY), No. of Period = 12 & Period Length = 1M

b) Starting Date = 01-04-11(DDMMYY), No. of Period = 1 & Period Length = 1Y

ssingla

Accounting periods represents the reporting period (Financial Statements like Balance Sheet and Profit & Loss Account). In case you define it with period length 1Y then some reports might not show monthly data. To quote report no. 38 Trial Balance by Period.

Otherwise AFAIK there is no problem.