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Global Parameters

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Can somebody explain what Environment > 'Global Parameters' is? What is the purpose?

 

In the menu you can set the dimension, cons chart/acct, version and period.

 

I notice that it adjusts in CX52 to match the document that is pulled up, so why does it need to set?

 

Is this the date it will use when posting or creating objects?

 

Is it important to set the correct period/FY when configuring?

 

Is it just for toggling between dimensions?

 

Thanks!


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