What is Period update?
It’s a functionality that enables you to set cut off dates.
What is its purpose?
By setting a cut off date you prevent past Revenue data and Hours data being edited in PMI. By working with offset days, PMI can lock the data for Budget, Forecast and Actual. The offset days can be set on a monthly level for Forecast and Actual, and yearly level for Budget.
Intended users and requirements
This functionality is accessible to HQ Administrator, please contact support on firstname.lastname@example.org for more information.
How does it work?
If offset days are set to 5 it has the following affect:
Actual – 5 days into next month all previous months are closed. To open a previous month the number of days for the month in mention need to be edited to a higher number, for example; if today is the 17th of November and there is a need to open September the number on September need to state 49 (31 days in October + 18 days in November)
Forecast – 5 days into the current month the forecast is opened for editing but on day 6 the forecast is locked for current month and previous months. Months beyond current are opened.
Should the forecast close 5 days BEFORE the month start, set minus (-) 5.
Budget – 5 days past 31st of December the budget is opened for next year, on day 6 the budget is locked.
Should the budget close 1st of December current year for next year the setting should be minus (-) 31.
Setting the offset days are done per year and for Actual, Forecast and Budget separately. The chain default will affect all hotels in the chain, however it is possible to override by selecting a group and then tick the hotel to set hotel specific offset days. This is used when a specific hotel has permission to have a different period lock.
This is also used to open an hotel (override chain default).