Accounting Period

 
Editions
Express
Supported
Small Business
Supported
Premier
Supported
Enterprise
Supported
 
Throughout the program, you will come across Accounting Period selection.  This a simple filter allowing you to limit the data you can see at one time.  For example, when you view Employee Attendance, you will need to choose a Period Type. There are 5 different Period Types:
Period Type
Description
Weekly
You view 7 days at one time
Bi-Weekly
You view 14 days at one time
Semi-Monthly
Months is broken down into 2 periods
Monthly
You view 1 month at a time
Custom
You view any number of days at one time
 
In order for the program to know when Weekly, Bi-Weekly and Semi-Monthly period should start, we need to setup these parameters in the company settings.
 
 
Accounting Period
 
 
Weekly Accounting Period
If you plan to use weekly or bi-weekly accounting period, then you need to specify when first day of the week you plan to use.  In case if bi-weekly, the date first date when 14 days period starts
1

First day of the week

Choose any day of the week when your weekly accounting period would start.  If you choose System, then program will use the day of the week on your computer.
2

First date of bi-weekly

Choose first day of the bi-weekly period.  After you choose one date, MTC will automatically calculate any bi-weekly period for you.
 
 
Monthly Accounting period
If you plan to use Monthly accounting period, then you need to specify the first day when this monthly period will begin.  In addition, if you plan to use Bi-Monthly accounting period, then you need to specify when the second accounting period will begin.
3

First day of the first accounting period

Specify which day of the month should be the beginning of Monthly account period.  In, the case of bi-monthly account period, this would be the first day of the first accounting period
4

First day of the second accounting period

Specify the day when second bi-monthly accounting period should start.
 
 
Paid Time Off Assignment
If you plan to use PTO Assignment with yearly reset, then you need to specify when PTO should be reset.
5

The month when PTO should be reset for an employee

When PTO Assignment is used in Enterprise edition, you can choose to reset hours every year.  This month is the time when PTO is reset