Systematic Accounting Period FAQ
Systematic Accounting Period enhances your ability to tie pay and bill data together based on when costs are incurred and revenue is recognized. This feature allows you to create working lists to filter and action upon charges based on a specified accounting period. The Accounting Period is available for reporting in and Data Replication. Bullhorn automatically assigns an Accounting Period to every Payable and Billable transaction that is added to the system based on your configuration. Additional UI components also assist in filtering and sorting your data based on the Accounting Period.
How does this compare with existing Accounting Date options on Payroll Export, Unbilled Revenue Export and Invoice GL Export?
The existing Accounting Date options are still available. The export Accounting Date is stamped against a relationship between the transactions you are exporting and the export batch. The export Accounting Date will still be available in reporting and can continue to be leveraged.
The Systematic Accounting Period is designed to be stamped by the system before you process the transactions.
How should we use the Min Accounting Period on list screens?
The Min Accounting Period is designed to be the anchor for financial information. It's always the date that the charge was originally processed.
While adjustments could come through that update the Max Accounting Period, the Min Accounting Period will always tell you the original period for which the charge hit your financials.
How should we use the Max Accounting Period on list screens?
The Max Accounting Period displays the most recent Accounting Period Date against any transactions for that charge.
The Max Accounting Period is intended to be used as a "working" Accounting Period. You should filter this field by the current Accounting Period that you are Paying and/or Billing, ensuring that the pay you are exporting or the invoices you are creating are only for the current Accounting Period.
You will need to leverage multiple Accounting Periods in order to create non-weekly invoices.
What happens when a timesheet is submitted late?
When an employee works a normal week but submits their time after the Roll Forward Day/Time, all transactions will be automatically stamped with the Accounting Period Date for the following week.
In the case of second payroll, or other instances where you would want to update the Accounting Period to be associated with the dates worked and not the date submitted, the Accounting Period Dates for the associated transactions can be edited manually on the Billable and Payable Charge record pages or via the Mass Actions dropdown from the charge list.
What should I do is I need to update the Roll Forward Day/Time due to a federal holiday?
When there is an impact to bank hours that also impacts payroll, you may need to update the Roll Forward Day/Time to be earlier in the week to ensure payroll is correctly processed. Navigate to PayBill settings and change the Roll Forward Day/Time. Accounting Period Dates will then be stamped on transactions based on the newly set Roll Forward Day/Time.
If you change the Roll Forward Day/Time to account for a federal holiday, you must manually change the Roll Forward Day/Time back to the original after the date has passed. Ensure you update the Roll Forward Day/Time before the original day passes and the week’s transactions are added to the system.
How can I use the Systematic Accounting Period for reporting?
All Systematic Account Period fields are available for reporting use in and Data Replication.