Reopening a closed financial period
When closing a financial period, all the relevant contracts and related financial data are closed up to and including the closure date (see Closing a financial period). In case a contract is registered and activated too late in Planon, you can reopen a closed period to register and activate the contract as if the financial period was still open. The corresponding commitments and postings will be registered in this reopened period.
Example:
• Contract's start date: 10/01/2020
• The financial year 2020 has already been closed up to 11/30/2020
• When the contract is activated, the months of October and November will be registered as of December 2020, because this is the first open period.
• By reopening the financial year until 09/30/2020, you can activate the contract and close it up to 11/30/2020 (minimum). The months of October and November will be registered the corresponding months now.
• Final step is to close the financial year again. This would close the year again until 11/30/2020 (this is the only date allowed, it cannot be changed).
You can do this by following the steps in this example:
Procedure:
1. Go to Contracts and register the contract with start date 10/01/2020, but do not activate it yet.
2. Go to Financial years.
3. Select the financial period that you want to reopen: 2020.
The financial year 2020 has already been closed up to 11/30/2020.
4. On the action panel, click Reopen financial period.
The Enter values window appears.
5. Specify the required date in the Reopen financial period until field: 09/30/2020.
6. Go to Contracts and activate the contract you registered in step 1.
7. Close the contract up to the original closure date of the financial period: 11/30/2020.
8. Go to Financial years.
9. Select the reopened financial period that you want to reclose: 2020.
10. On the action panel, click Close financial period.
The Reclose financial periods window appears. The closure date of the latest financial period is already filled in by Planon: 11/30/2020.
11. Click OK.
The reclosure of the financial period is now set to the original closure date.