Accounting periods are used to control, by month, when certain financial transactions can be made in the system. Transaction Different transaction types can be allowed/blocked monthly according to your internal finance processes, for instance, blocking transactions for timesheets and personal expenses once month end has concluded.
Accounting periods can be managed in the the settings module or the finance & administration module. They are usually managed by designated role(s) or person(s) within each agency or office.
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ON THIS PAGE YOU WILL FIND:
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SETTING THE FINANCIAL YEAR
Go to the settings module
Select company settings > accounting periods
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In the top half of the screen you can set/delete your agency’s financial year
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ICON
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FUNCTIONALITY
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Create new accounting year
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Delete accounting year
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Move first month from selected year to previous year
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Move last month from selected year to next year
LOCK OR OPEN ACCOUNTING PERIOD
To fully lock or open a period then click in the period number column for the month you wish to open/lock
Then click select/deselect entire row button …or…
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Alternatively, select and deselect individual transaction types
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For more information on how to manage accounting periods please refer to the Month End > Manage Accounting Periods article. |
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