About Locked Fiscal Periods

In Sage 300 ERP, fiscal periods are locked separately for each transaction-oriented Sage 300 ERP program.

The system checks the status of a fiscal period for Accounts Payable when you enter certain dates in Accounts Payable transactions. It also checks the status of the fiscal period for Bank Services when you print a check.

If the period is locked for Accounts Payable, you receive a warning, an error message, or no message, depending on the setting for the Locked Fiscal Period option on the Company Profile’s Options tab, as follows:

• If the period is locked for Bank Services and the Locked Fiscal Period option is set to Error, you receive an error message when you add a receipt or print a refund check. (Otherwise, no warning or error appears.)

  Important! Generally, you should lock a period for Accounts Receivable, Bank Services, and Accounts Payable at the same time, to avoid this situation.

• If a fiscal period is locked for General Ledger but not for Accounts Payable, you can create batches for General Ledger during posting or using the A/P Create G/L Batch screen (depending on Accounts Payable's G/L Integration settings). When you try to post transactions to a locked period in General Ledger, however, the transactions will be placed in an error batch.

  Important! You should create and post General Ledger batches for outstanding Accounts Payable transactions before locking a period for General Ledger.