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Closing Accounting Periods - Question

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  • Closing Accounting Periods - Question

    We are using Peachtree Premium 2009. I would like to close each month so that no entries can be made "after the fact". I recently moved into this position and found we had very high "unreconciled differences" in our bank reconciliations. These were found to be due to prior period changes. A change made after the bank reconciliation has been completed changes the opening balance on the statement. We have several people working in Peachtree and it will be easier to prevent these entries. Can someone tell me how to do this? I used to use DacEasy and was able to physically close each month and re-open it in the event a change was necessary. Thanks!

  • #2
    You can accomplish the closing effect that you desire via User Security Settings. Look under Maintain - User Security - select user and modify access rights in the section labeled 'Company Access'. Change the users rights to two sections under Company Access, 1) Transactions In Prior Periods 2) Change Accounting Periods.
    Rick Prindiville
    PCO Consulting Services, Inc.
    rick@pcosupport.com
    Peachtree Certified Consultant
    Sage Certified Trainer

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    • #3
      Perfect! Thanks! It puts a "lock" next to the accounting periods that are not current.

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      • #4
        Originally posted by rick Prindivill View Post
        You can accomplish the closing effect that you desire via User Security Settings. Look under Maintain - User Security - select user and modify access rights in the section labeled 'Company Access'. Change the users rights to two sections under Company Access, 1) Transactions In Prior Periods 2) Change Accounting Periods.
        Will this also prevent someone from accidentally posting something to the previous year?

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        • #5
          Question - Will this also prevent someone from accidentally posting something to the previous year?

          Answer - YES.
          Rick Prindiville
          PCO Consulting Services, Inc.
          rick@pcosupport.com
          Peachtree Certified Consultant
          Sage Certified Trainer

          Comment


          • #6
            Originally posted by rick Prindivill View Post
            Question - Will this also prevent someone from accidentally posting something to the previous year?

            Answer - YES.
            Wow - thanks. You would think after over 10 years we would have known that. This will prevent many potential problems.

            Most of the problems happen when our AP person enters purchases into payables and accidentally posts to a previous period, so I think we will set her to not be able to go "back in time".

            It seems logical that the person who reconciles the bank statements would be the best one person to allow to go "back in time"???

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