Setting the Period Status

• Select Period Status from the Assign Cost Calendars window.
• The specified Legal Entity and Cost Type display.

Periods Details 

• Enter the Period.
• Enter the Description.
• Enter the date on which this calendar becomes effective in Start Date. Required.
• Enter the date until which this calendar is effective in End Date. Required.

• Never Opened
• Open
• Frozen
• Closed

• Period Status displays the status of each period in the cost calendar.

Flexibility in Restricting Cost Updates

Transactions (regardless of cost type) can be made to Open calendar periods. OPM gives you the capability to Freeze existing costs from further modifications (such as cost rollups, actual cost processing, and cost updates) in a specific calendar period. However, new item cost transactions may be added. You can also Close a period, which prevents any further costing changes to be made within the specified period.

Never Opened: Indicates that the period is not opened for transactions yet. You cannot establish costs or run any cost processes in a never opened period.

Open Periods: The status of each new period you define defaults to Open, which means that all daily transactions can be updated to the period. Each period remains open until the Final Cost Update (see "Cost Update") is run successfully.

Frozen Periods: When you do not anticipate further changes to transactions, you can automatically Freeze the period by running the Final Cost Update. In a frozen calendar period, no further modifications (such as cost rollups, actual cost processing, and cost updates) can be made to existing, updated costs. However, newly-created component cost details can be entered, (selectively) rolled up, then updated and included without affecting those costs already frozen.

Note: You cannot delete the frozen cost periods.

Closed Periods - You should consider closing a costing period only when you are sure that there are no more cost changes to be made. Select Close from the Actions menu to close a costing period.

Closing a period prevents any modifications to be made to the costs within the period, effectively locking them from further changes. No new item costs may be entered, no rollups may be performed, and no cost updates may be performed for the period. You cannot reopen an already closed period for a transaction.