Creating and Closing Billing Periods
Utilization of billing periods within GoRev will allow you to maintain a true financial close process. This guide will explain how to manage billing periods within GoRev as well as what impacts closing periods have on the system. Billing Period management was introduced into GoRev in version 3.66.2 on July 10th, 2018.
Creating Billing Periods (Opening a Period)
Navigate to Admin and Click Billing Periods
The Manage Billing Periods window will appear. Click "Add Billing Period" to Open a new period or click "Edit Billing Period" while an existing period is highlighted to change settings and close a period. *NOTE you must reopen the billing period if its been closed in order to edit the billing period.
Adding/Editing a period window will appear.
Batch Date From (Inclusive)/Batch Date to (Exclusive) refers to the Batch Date period you wish to set. This is the date range of transactions to be grouped into this period based on the actual batch dates set during posting. When a period is closed, this is the batch date range that will be locked and will no longer allow transactions to be posted into. These are most commonly entered as the actual month start and end dates for the period.
Display Name This field allows you to name your periods. Most common approach is shown below. This period name is referenced on any financial reports that are by "transaction date", "check date", or "batch date" within GoRev.
To close a billing period, highlight the period you want to close and select "Closing Billing Period". *To Reopen a billing period that has been closed, highlight the period and select Reopen Billing Period
Once a period is closed, the system will block any batch saves you attempt to post to the Billing Periods start and end date range. You will see a warning message as shown below.
You can also view the history of changes made to a billing period. To view the history, highlight the period you want to review and select "View History"
Here is a view of the history, to return back to the billing periods, select "Back to Billing Periods"
GoRev Support Team
If you have any questions, concerns, or problems regarding this GoRev Tutorial, please contact the GoRev Support Team by submitting an IT Support Ticket, by phone at 1-(317)-794-3900, and/or by email at ask@gorev.com.
Note: If possible, always submit an IT Support Ticket detailing any problem that you are experiencing within GoRev. This will give GoRev Support Agents access to additional information that will help expedite the resolution of your issue. If you are unsure how to submit an IT Support Ticket in GoRev, please see the IT Support Ticket Creation for assistance.