-- Reference --

Frequently Asked Questions about Monthly or Quarterly Engagement Types

Q: How do I set up monthly or quarterly engagement types?

  1. On the Engagement ribbon, click Properties.
  2. In the Engagement Properties dialog, click the Reporting Dates tab.
  3. In the Reporting Period Date Sequences section, select the type of engagement you wish to set up.

    Note: Before turning off the Yearly period date sequence you must delete all entries posted to that sequence.

Q: How do I get the data into the Period Balances?

Period Balances can be entered or imported in two ways. We recommend using Microsoft Excel for importing Period Balances; although a number of other software applications have the ability to import monthly or quarterly balances.

  • Method 1: As period balance totals in the Working Trial Balance.
  • Method 2: As detailed transactions using the Other Entries dialog.

Q: What is the difference between Independent and the other date options when selecting Compute balances from for the Reporting Date Sequences?

Balances can be independent or computed from another date sequence. When computing balances from another period date sequence all balances from the necessary periods of the selected period date sequence are totaled. For example, if Quarterly is computed from Monthly, Quarter 1 would total all balances from the first three months, Quarter 2 from the next three and so on. Independent date sequences only include balances that are associated with that date sequence.

Balances associated with a period date sequence include adjusting journal entries and period balance totals entered in the Working Trial Balance.

Balances from the Other Entries journals are not associated with a particular period date sequence and are included in the totals for all period date sequences.

Q: How do I post entries to a specific period?

Adjusting Journal Entries are associated with a period date sequence as specified by the Period Type selection in the Adjusting Journal Entries screen. If a period date sequence is independent, only those Adjusting Journal Entries created for that date sequence are included. Adjusting entries will only flow to other date sequences if the period date sequence is computed from another. Independent date sequences allow for independent sets of Adjusting Journal Entries.

Q: How do I set up Foreign Exchange for different fiscal periods?

You can set separate foreign exchange rates for fiscal periods and their subperiods. >>How Do I?

Q: How do I see the information on reports?

You can change the Period and Balances options in automatic documents to reflect the periods that you wish to display. Automatic documents are able to display up to three periods. To link balances from specified periods, you can use CaseView or CaseWare Connector with Microsoft Excel or Word.

Q: Can I compare period X to period Y in the same year or in different years?

Using the Balances tab in the Automatic Document Properties dialog, you have the ability to compare two different periods form the same year or in different years.

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