In this topic:

Setting up the Accounting Calendar

After creating a General Ledger, the Accounting Calendar should be created to define the periods and period types for the accounting year. This action can be completed either when designing the General Ledger or as a distinct step after the ledger is created. The Accounting Year can support between 2 and 24 monthly periods.

Accounting Years and Periods

Within the accounting year, you can create the desired amount of periods with the specified names, start and end dates. For example, you can have the accounting periods for quarters or half-years. All your postings with the date of transaction are automatically assigned to open accounting periods. If the period is closed, the system finds the next open period and posts transactions to it.

Note: When adding the accounting year, the system also creates two automatic entities— OPENING_PERIOD and CLOSING_PERIOD. They are generated for accounting purposes.

Adding an Accounting Year with automatic periods

When creating accounting years, you can generate accounting periods automatically or create your own custom periods. The automatic accounting period method will generate monthly periods based on the start date and number of months entered. If you want to create custom accounting periods, you have to specify the needed start and end dates.

To create automatic accounting periods, set the generate-periods parameter to true.

Create an accounting year with auto-generated periods

POST https://example.gotransverse.com/calypso/3/ledgers/2/calendar/years?generate-periods=true

Request

{
  "name": "accounting year 2018 example 1",
  "start_date": "2018-01-01",
  "end_date": "2019-01-01"
}

Response

{
  "id": 7,
  "description": "GL description",
  "name": "sample GL",
  "status": "DRAFT",
  "convert_currency": "NONE",
  "chart_of_account_id": 2,
  "rule_set_id": 2,
  "run_mode_actuals_id": 4,
  "calendar": {
	"type": "CALENDAR",
	"id": 91,
	"parent_id": 0,
	"path": [
		7
		],
	"start_date": "2018-01-01",
	"end_date": "2019-01-01",
	"time_zone": "UTC",
	"open": true,
	"years": [
    {
		"type": "YEAR",
		"id": 93,
		"name": "accounting year 2018 example 1",
		"parent_id": 91, 
		"path": [
			7,
			1
		],
		"start_date": "2018-01-01",
		"end_date": "2019-01-01",
		"time_zone": "UTC",
		"open": true,
		"complete": true,
		"accounting-periods": [
		{
			"type": "OPENING_PERIOD",
			"id": 94,
			"name": "accounting year 2018 example 1 Opening Period",
			"parent_id": 93,
			"path": [
		    	7,
				1,
				0
			],
		"start_date": "2018-01-01",
		"end_date": "2018-01-01",
		"time_zone": "UTC",
		"open": false
		},
		{
		"type": "PERIOD",
		"id": 95,
		"description": "auto generated",
		"name": "Accounting Period 7.1.1",
		"parent_id": 93,
		"path": [
			7,
			1,
			1
		],
		"start_date": "2018-01-01",
		"end_date": "2018-02-01",
		"time_zone": "UTC",
		"open": true
		},
		{
		"type": "PERIOD",
		"id": 96,
		"description": "auto generated",
		"name": "Accounting Period 7.1.2",
		"parent_id": 93,
		"path": [
			7,
			1,
			2
		],
		"start_date": "2018-02-01",
		"end_date": "2018-03-01",
		"time_zone": "UTC",
		"open": true
		},… 
[other ten periods for March, April, May, and so on]
} 

Adding an Accounting Year with custom periods

Let’s create a new accounting year for your calendar with two custom accounting periods.

Create an accounting year with custom periods

POST https://example.gotransverse.com/calypso/3/ledgers/{ledger_id}/calendar/years

Request

{
  "name": "accounting year 2019 example 2",
  "start_date": "2019-01-01",
  "end_date": "2020-01-01",
  "accounting-periods":
  [
    {
     "name": "1",
	 "start_date": "2019-01-01",
	 "end_date": "2019-06-01"
	},
	{
	  "name": "2",
	  "start_date": "2019-06-01",
	  "end_date": "2020-01-01"
    }
   ]
}

Response

[
{
[previous year with periods]…
{
  "type": "YEAR",
  "id": 115,
  "name": "accounting year 2019 example 2",
  "parent_id": 91,
  "path": [
	7,
	2
  ],
  "start_date": "2019-01-01",
  "end_date": "2020-01-01",
  "time_zone": "UTC",
  "open": true,
  "complete": true,
  "accounting-periods": [
  {
	"type": "OPENING_PERIOD",
	"id": 116,
	"name": "accounting year 2019 example 2 Opening Period",
	"parent_id": 115,
	"path": [
		7,
		2,
		0
	],
	"start_date": "2019-01-01",
	"end_date": "2019-01-01",
	"time_zone": "UTC",
	"open": false
	},
	{
	"type": "PERIOD",
	"id": 117,
	"name": "1",
	"parent_id": 115,
	"path": [
		7,
		2,
		1
	],
	"start_date": "2019-01-01",
	"end_date": "2019-06-01",
	"open": true
	},
	{
	"type": "PERIOD",
	"id": 118,
	"name": "2",
	"parent_id": 115,
	"path": [
		7,
		2,
		2
	],
	"start_date": "2019-06-01",
	"end_date": "2020-01-01",
	"open": true
	},
	{
	"type": "CLOSING_PERIOD",
	"id": 119,
	"name": "accounting year 2019 example 2 Closing Period",
	"parent_id": 115,
	"path": [
		7,
		2,
		3
	],
	"start_date": "2020-01-01",
	"end_date": "2020-01-01",
	"time_zone": "UTC",
	"open": false
	}
  ]
  }
  ],
  "complete": true
},
  "valid": true,
  "timezone_name": "UTC"
}

Moving your General Ledger to the ACTIVE status

When your GL is complete, we can move it to the ACTIVE status. In the request body, indicate the new status of ledger and you will receive details on your ledger including all its accounting years with periods in the response.

PUT https://example.gotransverse.com/calypso/3/ledgers/{ledger_id}

Request

{
  "name": "sample GL",
  "description": "GL description",
  "status": "ACTIVE",
  "convert_currency": "NONE",
  "conversion_currency": "USD",
  "timezone_name": "UTC",
  "chart_of_account_id": 2,
  "rule_set_id": 2,
  "run_mode_actuals_id": 4
}

Response

{
  "id": 7,
  "description": "GL description",
  "name": "sample GL",
  "status": "ACTIVE",
  "convert_currency": "NONE",
  "conversion_currency": "USD",
  "chart_of_account_id": 2,
  "rule_set_id": 2,
  "run_mode_actuals_id": 4,
  "calendar": {
	"type": "CALENDAR",
	"id": 91,
	"parent_id": 0,
	"path": [
			7
	],
… [all calendars with years]
}

Now, proceed with creating the Collector Run.

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