Financial years

🇳🇱 Nederlandse vertaling

In this support article you can read how to create and close financial periods (financial years).

To make sure that no further changes can be made to a closed financial period, you use financial years. You close these after you have done the control and the declaration for that year. Note: you can then no longer make any financial changes in the financial year. If necessary, you can reopen the financial year. 

1. Create a financial year

To close a financial period you need to create a financial year. 
1. Go to the Financial tab;
2. In the right submenu, choose Financial years;
3. Click on + New financial year;
4. Choose a starting month and the particular year for which you want to create a financial year;
If the year differs from the current year, you will be given the option to close the period immediately.
5. Click Create Financial Year to save.
If someone wants to make a mutation to a financial fact that falls in the closed financial year or if someone wants to add a financial fact, this is not possible and they will be notified of this.

2. Edit, delete, re-journalize and view financial years

To get an overview of the already created financial years and to make changes, go to the Financial tab. In the right-hand submenu you will find Financial years with all the financial years that have already been created.

Here you can edit, delete and journalize financial years.

2.1 Editing financial years

To edit a financial year, click on the start date of the financial year. Here you can change the dates of the financial year. You can also indicate here whether the financial year is closed or not (Note: the period must lie in the past).

2.2 Delete fiscal year

To delete a fiscal year, you have to click on the start date of the fiscal year. Here you can delete the fiscal year.
Note: This does not delete the journal entries of that period! Only the determined period 😉 is deleted.

2.3. Journalize financial year again

It is possible to rejournalize a financial year that has not been closed. With this you can, for example, when you have made a change in the financial settings, make this change also apply to the previously closed financial year (you have to open it again first of course).
1. Go to the appropriate financial year and open it if necessary;
2. Click Journalize to have the journal entries generated again.

2.4 Viewing the financial year

All financial overviews have the financial years available in the filtering, so you can see data per calendar year or (when you work with a broken financial year) per fiscal year.
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