Ardex prevents users from entering any financial transactions (charges to horses, bank deposits, supplier payments etc.) dated prior to the end of period date.
There is an option to set the end of period date to match your statement issue date each time you run the month end process. You can decide not to set an end of period date, there are no adverse effects, it’s optional.
Change the end of period date
To change the end of period date simply type a new date, e.g. 01/07/15 then press TAB and click the SAVE button. You will get a message ‘Changes Saved’ and the date will change on screen.
When should you change the date
When it comes to changing the end of period date (to allow back entry of transactions to prior months) we recommend following these simple guidelines:
- Never change the end of period date to a date prior to your last GST return / BAS submission to the tax office. If you do so, you are creating potential for tax office audit issues.
- For example, if you have reported GST collected and paid, sales and purchases for April to June 2015, your earliest possible end of period date is now 1 July 2015.
- Never make the end of period date earlier than the date of your most recent financial year rollover. This will create significant accounting issues in your database.
- If you go to Reporting > Trial Balance then the date of your last financial year rollover is the same as your ‘Year Start Date’ at top right of screen.