Scenario: Setting accounting year of the company.
Objective:
(i) To allow the company to generate business plan and hence continue their business in the future.
(ii) To permit the users to record past transaction history.
Point on Tools, then select Manage Fiscal Year.
You will be directed to the following message when you click on it.
Note:
- New Previous Fiscal Year allow the users to add new set of past financial year by 1 which permit them to key in past (year) invoices.
- New Next Fiscal Year allow the new users to add new set of future financial year by 1 which allows the users to continue their business in future.
- Edit Fiscal Year allow the users to edit the current financial year.
(i) You won't be able to edit financial year until there is no set of past/future financial year. Make sure you perform this action without any set of past/future financial year added.
(ii) If your Actual Data Start Date (the date you start using the AutoCount Accounting) is equal to the beginning of the financial year you won't be able to key in opening balance for past month businesses. However, if it is later than the beginning of the financial year a new G/L function Year-To-Date Balance Maintenance will appear after you re-log your AutoCount. Year-To-Date Balance Maintenance allow the users to key in past month opening balance in terms of balance sheet and P&L account.
- Delete Fiscal Year allow the users to either delete past financial year or future financial year only.
- Manage Period Lock allow the users to lock the period of financial year to avoid any record amendment.
For instance, once the period for 2018 June is locked all the users will not be able to either edit/add the transactions that were recorded in June 2018.
