Fiscal periods are set up to keep billing-related transactions within time framed groupings. The Fiscal Periods feature will show a listing of fiscal periods that can be assigned to transactions during various processing tasks.
Permissions Needed
To use the Fiscal Periods feature, you need the following permission:
- Account Mgmt. > Fiscal Periods > OPEN/CLOSE and/or CONFIGURATION
Working with Fiscal Periods
Follow the guide below to learn how to enter fiscal periods in AccuBill.
Configuring Fiscal Periods
Click the Configurations button in the upper right hand corner of the Fiscal Periods feature to open the Configurations modal. Within the modal you’ll see the following:
Define the start of your agency's Fiscal year
Month dropdown - Select the month that your agency's fiscal year starts
Year dropdown - Select the year that you'd like to start your fiscal periods in AccuBill
Define your agency's transaction assignment logic
Charges
Post to period which contains Claim Date if Open, otherwise current period
If this selection is made, a Charge record will be assigned to a fiscal period that contains the Claim Date for the transaction if the fiscal period has a status of Open when the Charge record is created (both automatically and manually created charges). If the expected fiscal period has a status of Closed, the transaction will be posted to the current Open period.
Post to period which contains Approval Date if Open, otherwise current period
If this selection is made, a Charge record will be assigned to a fiscal period that contains the Approval Date for the transaction if the fiscal period has a status of Open when the Charge record is approved (both automatically and manually created charges). If the expected fiscal period has a status of Closed, the transaction will be posted to the current Open period.
Payments
Post to period which contains Adjudication Date if Open, otherwise current period
If this selection is made, a Payment record will be assigned to a fiscal period that contains the Adjudication Date for the transaction if the fiscal period has a status of Open when the Payment record is saved (Save & Close button is clicked). If the expected fiscal period has a status of Closed, the transaction will be posted to the current Open period.
Post to period which contains Deposit Date if Open, otherwise current period
If this selection is made, a Payment record will be assigned to a fiscal period that contains the Deposit Date for the transaction if the fiscal period has a status of Open when the Payment record is saved (Save & Close button is clicked). If the expected fiscal period has a status of Closed, the transaction will be posted to the current Open period.
Post to period which contains Approval Date if Open, otherwise current period
If this selection is made, a Payment record will be assigned to a fiscal period that contains the Approval Date for the transaction if the fiscal period has a status of Open when the Payment record is saved (Save & Close button is clicked). If the expected fiscal period has a status of Closed, the transaction will be posted to the current Open period.
Adjustments
Post to period which contains Adjudication Date if Open, otherwise current period
If this selection is made, an Adjustment record (Write-off) will be assigned to a fiscal period that contains the Adjudication Date for the transaction if the fiscal period has a status of Open when the Adjustment record (Write-off) is saved (Save & Close button is clicked). If the expected fiscal period has a status of Closed, the transaction will be posted to the current Open period.
Post to period which contains Approval Date if Open, otherwise current period
If this selection is made, an Adjustment record (Write-off) will be assigned to a fiscal period that contains the Approval Date for the transaction if the fiscal period has a status of Open when the Adjustment record (Write-off) is saved (Save & Close button is clicked). If the expected fiscal period has a status of Closed, the transaction will be posted to the current Open period.
Close Fiscal Periods automatically
If you'd like AccuBill to close your fiscal periods automatically, click the toggle green.
Close after
When the above toggle is set to green, enter a number of days to close a prior period in the current month. For example, if 7 was entered in this field, your July fiscal period would automatically close on August 7th.
Change History
Click the Change History button to see a list of all updates made within the fiscal periods Configurations modal.
Managing Fiscal Periods
Fiscal Periods Table
Within the Fiscal Periods table, you’ll see the following columns as well as tabs (Open, Closed, All) to see a listing of fiscal periods by status:
Checkbox - Select the fiscal period(s) to open or close in bulk. A page footer will appear to enable these bulk options.
Month/Year - Month and year for the fiscal period.
Fiscal Year - The fiscal year the fiscal period is part of. For example, if your agency's fiscal year starts in July, all 12 fiscal periods are part of the same fiscal year, even when they are not all in the same calendar year.
Status - Whether the fiscal period is Open or Closed.
Scheduled Close - If using the setting called Close Fiscal Periods automatically within the Configurations modal, this will indicate the date the fiscal period will be closed by AccuBill.
Last Modified - The date/time the fiscal period was last updated.
ID - ID assigned to the fiscal period by AccuBill.
Actions
Open Period or Close Period - Ability for a user to manually open a closed fiscal period or close an open fiscal period. Note: A current or future fiscal period cannot be closed.
Change History - Lists all updates made to the fiscal period.
Bulk Actions
By selecting at least one checkbox for a fiscal period, a footer will appear with the following:
Cancel - Deselects records and hides footer.
Open Selected - Opens the selected fiscal periods that are closed.
Close Selected - Closes the selected fiscal periods that are open. Note: A current or future fiscal period cannot be closed.