Define a new consolidation period

The Define Periods page lets you create new consolidation periods, modify existing ones, and remove them. You can also lock periods for various purposes, including marking the close of a financial consolidation.

Each period includes all dimensions: companies, accounts, flows, amounts, analytical information, journals, account summations, reports, input pages, and more. When you create a new period using an existing one as a reference, all structures from the reference period are copied into the new period.

To access the Define Periods page, click Group > Periods > Define Periods tab.

Page layout

The Define Periods page is divided into two sections.

Left panel — Displays a list of existing consolidation periods with the following columns:
- Code — The period code.
- Description — The name of the period.
- Is Closing — Indicates whether the period is a closing period.
- Active — Indicates whether the period is currently active.
  
   Note: You can filter the list by Code, Description, and Active or Inactive status. Wildcards are also supported.

Right panel — Displays the fields used to define the selected or new consolidation period. This panel also includes the Carry Forward Settings at the bottom of the page.

Period definition fields

When you select a period from the left panel, its details appear in the right panel. The following fields are available:

Field	Description
Code	The unique code that identifies the consolidation period.
Year	The year the period belongs to.
Month	The month the period belongs to.
Category	The data category for the period.
Version	The version number of the consolidation period.
Description	The name or description of the consolidation period.
Date	The start date of the period.
Closing date	The date by which all figures must be confirmed and validated. After this date, the period is closed and no further modifications can be made. The period closes when a scheduled Close Period job runs and the current date falls after the specified closing date.
Currency	The group currency used for the period.
Decimals	The number of decimal places used for amounts in the period.
First journal entry	The starting number used for journal entries. This number increments for all adjustments, regardless of the journal. For example, if set to 2022001, subsequent entries are numbered 2022002, 2022003, and so on.
Reference period	The consolidation period from which structures and figures are copied into the new period.
Parent Company	The parent company used in the new consolidation period. This field is populated automatically when a Reference period is selected.

Status settings

The following controls affect the status and behavior of the consolidation period:

Is closing	When selected, the period appears in the list of Reference periods available in the left panel and can be selected as a closing period.
Active	When selected, the period is available to all users. Inactive periods are not available for review but can be reactivated at any time.
Locked	When selected, the period is available in read-only mode. No data can be modified. A lock icon appears beside locked periods in the list. You can enter a remark as an explanation when locking a period.
Linked to InterCompany	When selected, the period is linked to a corresponding period in Intercompany. If the period codes differ, the difference is indicated in the field next to the checkbox.
Consolidation by POV	When selected, journal eliminations are performed according to the group structure (a criteria such as participation) defined as a Point of View.

Carry Forward Settings

The Carry Forward Settings section appears at the bottom of the left panel. These settings define how adjustments are handled when you create a new consolidation period. Three categories of data can be configured independently:

Local Bundle

Not to copy — Local bundle data is not copied.
Copy all amounts — All local bundle data is copied.
Copy only Equity and Participations — Only equity and participation data is copied.
Transfer of reserves — Reserve data is transferred.

Local Adjustments

Not to copy — Local adjustments are not copied.
To copy — Local adjustments are copied.
To carry forward — Local adjustments are carried forward into the new period.

Consolidated Adjustments

Not to copy — Consolidated adjustments are not copied.
To copy — Consolidated adjustments are copied.
To carry forward — Consolidated adjustments are carried forward into the new period.

Create a new period based on the last month of the previous year

Use this procedure when opening a new consolidation year. Adjustments are carried forward rather than copied, so you start with a clean period that reflects prior-year balances.

Click . The fields in the right panel are refreshed and ready for your input.
Enter all required fields to define the consolidation period.
Select the Reference period. The Parent Company is populated automatically.
In the Parent Company field, leave the copied value as is.
For status:
- By default, Active is selected. If you are not yet ready to activate the period, clear the checkbox.
- If Locked is selected, clear it to unlock the period. You can optionally enter a comment.
In the Linked to InterCompany field, select this option if you want to link the period to a period in Intercompany, then optionally enter a comment. Otherwise, leave as is.
In the Consolidation by POV field, select this option if you want journal eliminations performed according to a Point of View group structure. Otherwise, leave as is.
In the Carry Forward Settings section:
- For Local Bundle, leave the default selection of Not to copy. Because you are opening a new period based on the last period of the previous year, you do not want to copy local bundle amounts.
- For Local Adjustments, leave the default selection of To carry forward to carry the local adjustments into the new period.
- For Consolidated Adjustments, leave the default selection of To carry forward to carry the consolidated adjustments into the new period.
Save your input. The new period appears in the list on the left.

Create a new period based on the previous period of the same year

Use this procedure when creating a new period within the same fiscal year. Adjustments are copied so you do not have to re-enter them.

Click . The fields in the right panel are refreshed and ready for your input.
Enter all required fields to define the consolidation period.
Select the Reference period. The Parent Company is populated automatically.
In the Parent Company field, leave the copied value as is.
For the status:
- By default, Active is selected. If you are not yet ready to activate the period, clear the checkbox.
- If Locked is selected, clear it to unlock the period. You can optionally enter a comment.
In the Linked to InterCompany field, select this option if you want to link the period to a period in Intercompany, then optionally enter a comment. Otherwise, leave as is.
In the Consolidation by POV field, select this option if you want journal eliminations performed according to a Point of View group structure. Otherwise, leave as is.
In the Carry Forward Settings section:
- For Local Bundle, leave the default selection of Not to copy.
- For Local Adjustments, select To copy to copy the local adjustments from the reference period.
- For Consolidated Adjustments, select To copy to copy the consolidated adjustments from the reference period.
Save your input. The new period appears in the list on the left.

Lock a period

Locking a period prevents users from entering new data or making modifications. A locked period is available in read-only mode and is identified by a lock icon in the period list.

In the left panel of the Define Periods page, select the period you want to lock.
Select Locked and enter a reason for locking the period in the text field.
Save your action.

Delete a consolidation period

In the left panel of the Define Periods page, select the period you want to delete.
Click (above the list on the left).
In the deletion dialog, optionally, select Make backup of the period to create a backup before deleting. If selected, a notification is displayed after the backup is created.
Delete the selected period.

 Note: If you selected Make backup of the period, the backup is stored in a temporary folder on the server.
To retrieve and download the file, go to the Backup/Restore Periods page. Select the Restore tab and choose the file from the File drop-down list. Click Download File. For more information, see Restore a period.