Practice CS: Understanding periods

Alerts and notices

As a billing and accounts receivable system, Practice CS tracks financial information by period.

This topic addresses some frequently asked questions about the role of periods in Practice CS and the affect of changing them.

For detail instructions on how to advance or modify the dates of a period, or to roll back to a prior period, click here.

How long is a period?

Technically, a period can be any length of time. Typically, periods are about a month. Most firms have 12 periods per year, each corresponding to a calendar month. Other firms may use a different number of periods or end them on a day other than the last calendar day of a month, including:

You can, of course, have as many periods per year as you like, and each can end on any day you choose. Be mindful of what gets affected by the number of periods and their end dates as described below in the section titled "What is affected by periods?".

When should the period be advanced?

You can advance the period at any time. It does not have to be advanced on the first day of the next period.

Our recommendation is that the period be advanced when all activities related to the current period are completed according to your period processing cycle.

What is affected by periods?

Periods are used to set default dates on several screens, dashboard portlets, and reports. They are also used for aging WIP and A/R balances. More specifically:

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