How to in COR•REC

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Accounting

Understanding Report Periods

Overview

Advantages

  • Group transactions by date allows for fast accurate reporting.
  • Transaction dates confined to user-designated periods. Transaction dates are predetermined to be valid or invalid preventing transactions from being lost or miss placed due to dating errors.
  • Period overlap, flexible reporting without the need for large time-consuming data sorts.
  • Balance Forward. If your accounting requires that a Report Period be closed (Monthly, Quarterly, Year-to-Year) balances from one or more closed Report Periods may be quickly forwarded to open Report Periods.

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