Standard cost periods to be used in Costing transactions and Cost Accounting records are recorded using the Cost Periods option located in the Definitions menu of the Administration section.
Recorded periods are listed along with
- Code
- Description
- Start Date
- End Date
information. New definitions are made using "New" button located at the bottom of the window. The period information and functions on the Cost Periods window are:
Code and Description: The code and description of the standard cost period.
Start Date: The period start date.
End Date: The period end date.
While period definitions are recorded by clicking on "Save" button, a check is performed to see if the start and end dates of the period are in conflict with the start and end dates of recorded periods. If a conflict occurs, a warning message is displayed and the definition is not recorded.