Transactions for each period (normally a week or month) are separated from each other into 'Periods'. Once the processing for one period is complete then a 'period end procedure' is done to take the system into the next period ready for processing.
Once processing has been completed in the Time Control module and a backup has been done a period end procedure can be performed as long as the other modules are also ready to do a period end. When a period end is done the period is changed in all the modules in the system.
For further information see: Period End
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