Steps: Create and Open Ledger Years and Periods
- Establish the fiscal year on which to base the ledger year and its periods.
- Steps: Set Up Fiscal Schedules and Years. Create a fiscal schedule using theCreate Fiscal Scheduletask.
- Assign Company Accounting Details. Associate the fiscal schedule with the company using theEdit Company Accounting Detailstask.
Establish ledger years and ledger periods for each of your companies so that you can record journal entries to their ledgers to track financial performance.
- Access theCreate Ledger Year and Ledger Periodstask.You can select any fiscal year available for the selected company ledger that doesn't already have a ledger year and periods.When you select a fiscal year for a company with alternate ledger currency(ALC) configured, Workday automatically generates the ALC ledger year and period.Security:Set Up: Ledger and Bookdomain in the Common Financial Management Functional area.
- Access theUpdate Ledger Period Statustask.Change the Status of the ledger period toOpenfor periods within the ledger year.If you have enabled journal sequencing for the company, then you must create sequence ID generators before you can open the ledger period.Security:Process: Period Enddomain in the Common Financial Management Functional area.
Record journal entries to your company ledgers in the open ledger periods.