Set Financial Close Day

Setting a close day for financial edits will prevent non-Administrator level users from editing financial data after a certain date. For example, if financial reporting for February is run on March 3, then a close day of 3 would prohibit edits of At Need Contracts, Add Ons, and account balance information after midnight on March 2nd. 

With the restricted method of financial editing turned on, contract line items and account balance entries must be made before the financial close date. After the close day, contract and line item changes must be made via a new add on and payment changes must be made via the account adjustment. This ensures that all end of month reporting is accurate by not allowing new purchasing or payment data to be added which would affect your previously run reports. Typically, this day is at the beginning of the month when companies run their financial reports.

Enter the number of "grace period" days to allow users to edit financial data after the close date.

For example, if financial reporting for February is run on March 3, then a close day of 3 would prohibit edits of At Need Contracts, Add Ons, and account balance information after midnight on March 2nd. 

Leave this number at 0 to use the not restricted method of financial editing. This will allow anyone with access to the purchasing screen to edit contracts, Add Ons, or account payments at any time. Note that if you use this method, the financial managers should make sure that all financial data has been entered before the final End of Month and Year financial reports are run.