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 finance & administration module or the settings 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, ensure you have selected the relevant entity from the dropdown list before making any updates to finance & administration settings
If you only have access to one company this field will default accordingly
SET THE FINANCIAL YEAR
Go to the finance & administration module
Select month-end > accounting periods
In the top half of the screen you can set/delete your agency’s financial year
ICON | FUNCTIONALITY |
|---|---|
 | 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.
