We have seen how the fiscal year or the time period is created. It was mentioned that the primary objective to create this is to reduce the data entry errors.
Let's see how this is validated when entry is done.
For example, let's assume that an accounting personnel is accounting for the year 2012 , but by mistake enters as 2013.
Firstly, go to
By this message the data entry errors are reduced.
Similarly for payments,
When accounting date is entered as "2013" instead of "2012" i.e. which does not pertain to the fiscal year of accounting then the system prompts “ Not within the Time Period range" as in the below screen
Similarly the message prompts for Journal entries also