Understanding Accounting Periods (Cloud)

Understanding Accounting Periods (Cloud)

Accounting periods divide the property’s fiscal year into defined date ranges used for financial reporting. Most properties use monthly periods that follow the calendar year, while others may use a non-calendar fiscal year based on their organization’s accounting structure. The dates assigned to each period determine how financial activity is grouped across accounting reports. Because of this, the periods should match the structure used by the property’s accounting team.
Path: Management > Accounting Settings > Report Headings

Overview

The Accounting Periods section allows you to confirm how the property’s accounting year is divided and which dates belong to each period.
Accounting periods are important because they help ensure that revenue, payments, adjustments, and other financial activity are included in the correct reporting period. Incorrect period dates can cause activity to appear in the wrong month or fiscal period, making reconciliation and financial review more difficult.
The table displays:
  1. Acct Periods: The sequential number assigned to the accounting period.
  2. Start Date: The first business date included in the period.
  3. End Date: The final business date included in the period.
Notes
Each date should belong to one accounting period, with no gaps or overlapping date ranges.

Info
Accounting Periods cannot be changed directly by the property. To adjust the periods or apply a non-calendar fiscal year, submit a written request to the Visual Matrix Client Experience Team at least a few days before the intended change. A new support ticket is acceptable, but the request must include the exact start and end dates for every accounting period in the fiscal year.

Still Need Help With This Topic?

Ask Yourself:
  1. Do the periods match the property’s fiscal year?
  2. Are all start and end dates correct?
  3. Are there any gaps or overlapping dates?
  4. Have the exact dates been confirmed by the accounting team?
Support May Ask You:
  1. Which accounting periods need to be adjusted?
  2. What are the exact start and end dates for each period?
  3. When should the new fiscal year structure take effect?
  4. Has the full fiscal-year schedule been provided in writing?
  1. FAQ - Management / Accounting Settings (PMS)
  2. Understanding Report Headings (Cloud)
  3. Accounting Settings Overview (Cloud)