How to Open a New Fiscal Year

Before you can post in a fiscal year, you must open the fiscal year and define its accounting periods.

To open a new fiscal year

  1. Choose the Search for Page or Report icon, enter Accounting Periods, and then choose the relevant link.
  2. Choose the Create Year action.
  3. On the Options FastTab, define the structure of the fiscal year. The fiscal year is usually 12 periods of one month each, but you can also divide it in other ways.
  4. Fill in the fields.
  5. Choose the OK button.

The accounting periods are created, and the result is shown. The Starting Date field and the Name field are filled in with the name of the month from the starting date.

After the last period in the fiscal year, an accounting period is inserted with the New Fiscal Year field selected.

IMPORTANT

In concordance with French law no more than two open fiscal years are allowed.

See Also

Specify Posting Periods
Close Years
Post the Year-End Closing Entry
Fiscally Close Years
Fiscal Periods and Fiscal Years


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