IC's Period Closings vs Accounting Periods

Hi Mapics List:

I just discovered that my company's Period Closing dates, entered in Inventory 
Management's Option # 6 are different dates that those used for the company for 
financial accounting reporting.

The IM Period Closing dates are every four (4) weeks with a final one done on 
the last day of the company's fiscal year; for a total of 13 periods a fiscal 
year.

The company's financial accounting periods are monthly for a fiscal year 
beginning at December and ending the following November; for a total of 12 
periods.  A 13th period is used to record year-end adjusting entries proposed 
in-house and by our auditors.

How does Mapics reconcile these different closing dates so that monthly 
financial reporting reflects the actual month's period?

Perhaps I don't understand the significance of the IM Period Closing.  If I 
need some clarification here, please present it.

(By the way, I'm very happy to have found this ML and I hope that my letters to 
the group are such that I'm not the only one who learns from all this.)

Regards....
 

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Above message before copy enclosure (if any) was sent by:

Al Gershen
Grants Pass, OR 97526 
aldg@mail.rvi.net & aldg@webtv.net;
and thru ICQ # 12342782

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