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How do I reopen a period?

At times, you may need to reopen a posting period to correct a transaction entry or investment activity.  Note: Opening a prior posting period will not delete past transactions that were entered in the transactions screen or clear investment activity entered in the investment activity screen.

 

THINGS TO NOTE WHEN YOU REOPEN

Closed/merged funds may reopen

If you reopen over multiple periods, any funds that were deactivated or merged will need to be deactivated or merged again prior to closing the period. Make note of these funds and when they were deactivated, so you can deactivate again in the correct posting period.

We recommend using the CLOSED FUND HISTORY report (under AUDIT LOGS) to identify when funds were closed or merged. You will need to run the CLOSED FUND HISTORY report prior to reopening periods.

Merged Fund Note:  Merging funds combines the funds as of the previous posting period--if you want a fund merged effective 6/30, you need to perform the merge during the 7/31 posting period.

Deactivated Fund Note:  When you reopen a period, the transactions created to zero out a fund will automatically be deleted, however, any transactions that represent a transfer to another fund will not be impacted.  To make identification of these transfers easier, we recommend including a note in the transactions that are recorded to recipient funds.  The note would reference the deactivated fund that was the source of the transfer amounts.

Reviewing transactions

Once you have reopened the period(s) you can make corrections to transactions and investment activity.  For transaction corrections, we recommend navigating to ACTIVITY > EDIT TRANSACTIONS and using the transaction filters to find the transactions that need to be modified.  This filtered list can also be exported into a report for your record.

Once corrections have been made, you then will have to close each period that you reopened and Fundriver will reallocate investment activity for each period based on the changes entered.

Changes to transactions will be recorded in our audit trail and can be reviewed under REPORTS > AUDIT LOGS > CHANGE HISTORY - TRANSACTIONS.

 

INSTRUCTIONS FOR REOPENING A PERIOD

1. Log in to Fundriver and click on ACTIVITY REOPEN PERIOD.

Log in to Fundriver and click on ACTIVITY > REOPEN PERIOD.

2. Select period to reopen.  Unless the box below is unchecked, the only period available to reopen will be the most recently posted period.

Select period to reopen.  Unless the box below is unchecked, the only period available to reopen will be the most recently posted period.

3. Once a period is selected, a message will appear letting you know if any funds were closed or merged during that period.  

Once a period is selected, a message will appear letting you know if any funds were closed or merged during that period.  

Any funds CLOSED or MERGED during the period will be automatically reopened/unmerged and must be closed/merged again (if desired) before closing that period. You may want to make a note of any funds shown here.

4. Click REOPEN.

Click REOPEN.

4.1. If you want to reopen multiple periods, make sure to deselect the UNCHECK TO REOPEN MULTIPLE PERIODS box.

If you want to reopen multiple periods, make sure to deselect the UNCHECK TO REOPEN MULTIPLE PERIODS box.

4.2. Once the box is unchecked, multiple periods will be available from which to choose.

Once the box is unchecked, multiple periods will be available from which to choose.

4.3. Select the period in which the correction needs to be made and click REOPEN.  The software will automatically reopen all of the periods between the current posting date and the date you choose.

Select the period in which the correction needs to be made and click REOPEN.  The software will automatically reopen all of the periods between the current posting date and the date you choose.

Reopen a Fund in the Current Fiscal Year:  You can reopen a fund by reopening the period the fund was closed.

Reopen a Fund in a Prior Fiscal Year:  Email support@fundriver.com to reopen a fund closed in a prior fiscal year.

5. Once the adjustments or corrections have been made in the period, you must repost that period, as well as all periods between that period and the current posting period.  Navigate to ACTIVITY INVESTMENT ACTIVITY to close periods.

6. Post forward from the reopened period for each INVESTMENT POOL by selecting the pool, period date, and clicking CLOSE PERIOD.

Post forward from the reopened period for each INVESTMENT POOL by selecting the pool, period date, and clicking POST PERIOD.

Please contact Fundriver support if you need additional assistance reopening a period.

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