Accounting periods are used to control, by month, when certain financial transactions can be made in the system. 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.
ON THIS PAGE YOU WILL FIND: |
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CHECK COMPANY SETTINGS
If you have access to multiple companies within your system, before making any updates to settings ensure you have selected the relevant entity from the dropdown list
If you only have access to one company this field will default accordingly
SET THE FINANCIAL YEAR
Go to the settings module
Select company settings > accounting periods
In the top half of the screen you can set/delete your agency’s financial year
ICON | FUNCTIONALITY |
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Create new accounting year | |
Delete accounting year | |
Move first month from selected year to previous year | |
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…
Alternatively, select and deselect individual transaction types
