Customising Accounting Period Types ✪
Accounting Period Types are best described as a way to group your Contracts. When creating a Period, you will need to choose which group to create statements for. For example, when creating a Period for the Accounting Period Type Monthly, Curve will only include and create a statement for your Monthly Contracts. Any Half-Yearly or Quarterly Contracts would be excluded from that Period.
Customise Your Accounting Period Types
As a default, we will provide you with the Accounting Period Types Yearly, Half-Yearly, Quarterly and Monthly. This should suffice, though if you wish, you can customise these via Settings > General > Configuration.
When customising your Accounting Period Types, ask yourself which groups of Contracts you may like to create separate Periods for. For example, if you have Contracts that you need to account Monthly, and others that you need to account Quarterly, then of course you will need to create separate Periods for each group and have a separate Monthly and Quarterly Accounting Period Type. But additionally, you may have two separate groups of Quarterly Contracts for which you have a different accounting deadline, and for which it may be convenient to create separate Periods. If so, you may want to create a separate Quarterly + 30 Days and Quarterly + 45 Days Accounting Period Type.
Setting the Accounting Period Type for Your Contract
In your Contract, you can then specify which Accounting Period Type you wish this contract to be reported. If you set your Contract to Monthly, a statement will only be created for this Contract when you run a Monthly Period.
Creating a Period for Your Different Accounting Period Types
When you have multiple Accounting Period Types, you will need to create timely Periods for each Type individually. For example, if you have Half-Yearly and Quarterly Contracts; you will end up creating two Half-Yearly Periods (H1 & H2) and four Quarterly Periods (Q1, Q2, Q3 & Q4) per year.
With each Period you create, in the Setup stage, you can specify in the Accounting Period Type field for which group of Contracts you are creating statements.