What is this page about: How to back-date a release with the Accumulation setting on a release template, so months that have already passed are caught up in one posting. This is the usual case when you migrate a prepayment or deferral into Light partway through its schedule.
On this page
- When you need this
- The three Accumulation options
- Setting Accumulation on a template
- Attaching a back-dated release
- What the catch-up posting looks like
- FAQ and troubleshooting
- Related articles
A release is Light's term for a prepayment or deferral schedule that spreads an amount over time. When you bring an existing prepayment or deferral into Light partway through, its schedule starts before the bill's posting date. The Accumulation setting on the release template decides what happens to the months that have already passed.
When you need this
A release is back-dated when its start date is earlier than the posting date of the bill it's attached to. Each month of a release normally posts at month-end, so for a back-dated release some of those month-ends are already behind you, and some may fall in closed periods.
The three Accumulation options
| Option | What happens to months that have already passed |
|---|---|
| Off | Each month posts on its own month-end. If any of those months falls in a closed or locked period, the whole bill fails to post with an "Accounting period is closed" or "Accounting period is locked" error. |
| Posting date | The past months are added to the first monthly posting, at the month-end of the bill's posting month. If the whole schedule is already in the past, everything posts once on the bill's posting date. |
| Open period | Light finds the first open date on or after the schedule's start. The past months are added to the first month-end on or after that date, in one posting. If the schedule has already ended, everything posts once on that open date. |
With Open period, later closed or locked periods still block posting. With either catch-up option, the remaining months post one at a time as usual.
Migration cutoff date: Bills, sales invoices, contracts and journal entries brought in by import can carry a Migration cutoff date. It shows as a greyed-out field on the document when it's set. Any part of the release dated on or before that cutoff never posts, because it was accounted for before you moved to Light.
Setting Accumulation on a template
- Go to Settings > Records > Releases templates and open the template you want to use.
- Click Edit.
- Set Accumulation to Posting date or Open period.
- Click Save.
Accumulation is a template setting, so set it before you attach the template to a back-dated line. Editing a release template needs the Create and edit accrual templates permission, which only the Company Admin role has. If Edit isn't available to you, ask a Company Admin.
Attaching a back-dated release
- Open a draft bill whose posting date is later than the release's intended start date.
- On a line, open the amortization panel and select the template.
- Set the release's start date earlier than the bill's posting date, and its end date as usual.
- Click Add amortization.
- Post the bill.
What the catch-up posting looks like
- Go to Accounting > Transactions.
- Use the Account filter to select the template's Contra Account (the deferral account set on the template), and cover the full release period.
With Posting date or Open period, the share for every month that had already passed appears in a single posting, catching the release up to where it should be. The remaining months post one at a time afterwards.
FAQ and troubleshooting
My bill fails to post with "Accounting period is closed". Why?
The release template's Accumulation is set to Off, and at least one month of the release falls in a closed period. Ask a Company Admin to set Accumulation to Posting date or Open period on the template, then attach the release again and post.
Which catch-up option should I use?
Use Posting date to catch up in the bill's own posting month. Use Open period to catch up in the first open period after the schedule starts, which suits schedules that started further back.
Does Accumulation change future postings?
No. It only affects the months that had already passed when the release is first posted. After the catch-up, the remaining months post one at a time as usual.
Can I use this on a release that starts in the future?
There's nothing to catch up if the start date hasn't passed yet. The setting only matters when part of the schedule is already behind you.