1. mSCOA VENDOR REPORTING FORUM PERIOD CONTROL
Presented by National Treasury
22 August 2017

2. A financial year now consists of 15 periods
Transacting Periods 1 8 9 2 7 10 15 3 6 11 14 4 5 12 13
A financial year now consists of 15 periods

3. 12 Transacting Periods Last month of transacting - June
Month 12 will close automatically on 30 June
All closing balances must be transferred with the year-end procedure to period one of the new year
No back posting once the period is closed

4. Transacting Periods 13
Applicable during the period of preparation of the AFS
Month 12 will close automatically on 30 June
All adjustments in preparation and finalization of annual financial statements (AFS) will be processed in this period
No backdating of transactions are permitted
Will remain open until the annual financial statements are submitted for audit

5. 14 Transacting Periods Applicable for audit adjustment period
Adjustments during the audit of the financial statements must be processed in period 14.
No backdating of transactions permitted
Will remain open until the audit of the financial statements is complete.

6. 15 Transacting Periods Prior period transactions and restatements
Will be used to process all prior period adjustments and restatements that affect previous financial years that have been identified subsequent to the audit.
Period 15 should be open throughout the financial year

7. Posting levels

8. Transacting Periods - Example
Posting level
M01
M02
M03
M04
Leave(IL )7
Opening Balance(IL )
Yes
1000
-50
Increases(IL )
300
500
100
200
Reductions (Outflow of Economic Benefits)(IL )
-200
-100
-700
Reductions (without Outflow of Economic Benefits)(IL )
-300
Reversals(IL )
Increases (Passage of Time/Discounted Rate)(IL )
400
800
Closing Balance(IL )
1400
1500
1350
1650
Adjustments within the financial year must be processed in the current month when identified (cannot reopen past months for correction)

9. Opening balance scematics
OLD YEAR
P12 -
1,000
P13 50
1,050
P14 30
1,080
Movement
Closing balance
NEW YEAR
P01
1,000
100
1,100
P02 50
300
1,450
P02
-250
1,200
P02 30
100
1,330
Open balance
Movement
Closing balance

10. Submissions The file structure for submission onto the LG Database:
M12 June Actuals (Period 12)
PAUD Pre-audited Actuals (Period 13)
AUDA Audited Actuals (Period 14)
RAUD Restated Audited Actuals (Period 15)

11. Thank you
THANK YOU