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Accounting

Understanding Report Periods

Overview

Report Periods are required throughout COR•REC™ for entry and management of all financial transactions. Report Period interaction can be nuanced or as simple as your environment requires. Report Periods and Report Period sets may be added at any time. ... Read more

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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