To close a balance period and move into the next one, you need to run a balance period end.
Important considerations
Things to consider before running your balance period end:
Question | Answer |
When can I run Period Year End? | Period Year End can only be run when the last week of the previous period has been closed in WFM, i.e. the first Monday of January.
For example, if the 31st December falls mid-week, then it is going to be the following Monday before the process can be run. |
When does Length of Service (LOS) calculate? | LOS will calculate during the overnight calculation after Period Year End has been run. As a result, you won’t see LOS addition until the day after Period Year end has been run. |
Do I need to adjust the Calendars? | Company calendar (and UDCs if in use) must be extended until the end of the calendar year at minimum, until the end of the balance year if balance year is a mid-year. It can also be extended for future years. |
When do I set the Carry forward values? | Carry forward values are set during the previous year’s Year End process to affect values carrying into the new balance year.
For example, when running period year end for 2024 to open 2025, the carry forward values are set in the 2025 Balance Calendar to dictate the carry forward values that can be brought from 2025 to 2026. |
Run balance period end
To run balance period end, watch the video or follow the steps below:
📌Note: You can only run balance period end once the system week has moved past the end date of the open balance period.
Open the WFM Admin Dashboard, then select the Balance Maintenance tab.
Next to the relevant balance, click the three-dot menu, then click View.
Click the Balance Period End tab.
Check that the current period is correct, then click Run Period End.
Click Yes, then click OK.