---
schema_version: "1"
id: 19d524d9318949b361b2466ba6160f27bdf4151a531cd26a11bcb4dd6d16de6c
title: Manage Accounting Periods in Revenue Management
collection: admin
version: current
locale: en-us
portal_url: https://docs.salesforce.com/admin/current/en-us/ind/264-0-0/billing_accounting_periods.md
canonical_url: https://help.salesforce.com/s/articleView?id=ind.billing_accounting_periods.htm&release=264.0.0&type=5
source_site: help.salesforce.com
content_type: documentation
content_hash: e183a061c7781c5d7392f9d0d29ce43b844d39f0f17881578ca55339471450e1
description: Accounting periods help your company organize and monitor financial performance by defining specific time frames for business reports. Ensure accurate financial reporting and streamlined record-keeping by associating billing transactions to legal entity accounting periods.
products:
  - Revenue Cloud
release: "264"
---
# Manage Accounting Periods in Revenue Management

Accounting periods help your company organize and monitor financial performance by defining specific time frames for business reports. Ensure accurate financial reporting and streamlined record-keeping by associating billing transactions to legal entity accounting periods.

### Required Editions

<table class="slds-table slds-table_bordered slds-max-medium-table_stacked slds-m-bottom_small edition"><colgroup><col></colgroup><tbody><tr class=""><td class="slds-cell-wrap" style="vertical-align:top;">Available in: Lightning Experience</td></tr><tr class=""><td class="slds-cell-wrap" style="vertical-align:top;">Available in: <strong>Enterprise</strong>, <strong>Unlimited</strong>, and <strong>Developer</strong> Editions with <a href="https://help.salesforce.com/s/articleView?id=ind.revenue_licenses_areas_and_features.htm&amp;release=264.0.0&amp;type=5">the Revenue Cloud Advanced license or the Revenue Cloud Billing license</a></td></tr></tbody></table>

- **[What are Accounting Periods?](https://help.salesforce.com/s/articleView?id=ind.billing_accounting_periods_explain.htm&release=264.0.0&type=5)**  
    An accounting period is a specific time frame for which a company prepares its financial statements. For example, a month, quarter, or an year. It's a fundamental concept in accounting, as it dictates how and when revenue and expenses are recognized. Define start and end dates on the accounting periods to prevent overlaps or gaps and maintain a clean financial record for auditing purposes.
- **[Create Accounting Periods](https://help.salesforce.com/s/articleView?id=ind.billing_accounting_periods_create.htm&release=264.0.0&type=5)**  
    Create accounting periods to organize and store financial information for specific time frames. For example, if your company tracks performance quarterly, define quarterly accounting periods.
- **[Assign Legal Entities to Accounting Periods](https://help.salesforce.com/s/articleView?id=ind.billing_legal_entity_accounting_periods_create.htm&release=264.0.0&type=5)**  
    Assign legal entities to accounting periods, and associate each billing transaction to a specific accounting period of a legal entity.