Specifying when Financial Year starts - Revision history

Steve at 09:27, 25 February 2018

2018-02-25T09:27:47Z

← Older revision		Revision as of 09:27, 25 February 2018
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	[[Image:financialperiod.jpg]]		[[Image:financialperiod.jpg]]

	In the above screen the financial period has been set to 1 which means January to December. ~~Incase~~ the company follows the April to March financial period, than it would be set to 4. You can configure this to start at any month (i.e. 1=Jan, 2=Feb etc)		In the above screen the financial period has been set to 1 which means January to December. In case the company follows the April to March financial period, than it would be set to 4. You can configure this to start at any month (i.e. 1=Jan, 2=Feb etc)

	=== Using Financial Periods ===		=== Using Financial Periods ===

Steve at 09:25, 25 February 2018

2018-02-25T09:25:05Z

← Older revision		Revision as of 09:25, 25 February 2018
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	=== ~~Various~~ Financial Periods ===		== Financial Years and Periods ==

			=== Configuring Start of Year and Financial Periods ===

	Nearly all NEOSYS clients financial year follows the calendar year (1st January to 31st December) but there are a few that are different eg 1st April to 31st March, 1st July to 30th Jun etc.		Nearly all NEOSYS clients financial year follows the calendar year (1st January to 31st December) but there are a few that are different eg 1st April to 31st March, 1st July to 30th Jun etc.

	~~=== Configuring NEOSYS for Financial Periods ===~~

	The configuration of Financial Periods are done in the Company File under Finance		The configuration of Financial Periods are done in the Company File under Finance
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	In the above screen the financial period has been set to 1 which means January to December. Incase the company follows the April to March financial period, than it would be set to 4. You can configure this to start at any month (i.e. 1=Jan, 2=Feb etc)		In the above screen the financial period has been set to 1 which means January to December. Incase the company follows the April to March financial period, than it would be set to 4. You can configure this to start at any month (i.e. 1=Jan, 2=Feb etc)


	=== Using Financial Periods ===		=== Using Financial Periods ===

Steve: 3 revisions

2008-07-31T21:27:08Z

3 revisions

← Older revision	Revision as of 21:27, 31 July 2008
(No difference)

Ashwin: Financial Periods moved to Specifying when Financial Year starts

2007-05-10T12:27:31Z

Financial Periods moved to Specifying when Financial Year starts

← Older revision	Revision as of 12:27, 10 May 2007
(No difference)

77.68.3.139: /* Various Financial Periods */

2007-05-10T12:13:20Z

Various Financial Periods

← Older revision		Revision as of 12:13, 10 May 2007
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	=== Various Financial Periods ===		=== Various Financial Periods ===

	NEOSYS clients ~~follow~~ the ~~two most common financial periods in accounting~~		Nearly all NEOSYS clients financial year follows the calendar year (1st January to 31st December) but there are a few that are different eg 1st April to 31st March, 1st July to 30th Jun etc.

	- 1st January to 31st December
	- 1st April to 31st March


	=== Configuring NEOSYS for Financial Periods ===		=== Configuring NEOSYS for Financial Periods ===

Ashwin at 16:33, 3 May 2007

2007-05-03T16:33:06Z

New page

=== Various Financial Periods ===

NEOSYS clients follow the two most common financial periods in accounting

- 1st January to 31st December
- 1st April to 31st March

=== Configuring NEOSYS for Financial Periods ===

The configuration of Financial Periods are done in the Company File under Finance

[[Image:financialperiod.jpg]]

In the above screen the financial period has been set to 1 which means January to December. Incase the company follows the April to March financial period, than it would be set to 4. You can configure this to start at any month (i.e. 1=Jan, 2=Feb etc)

=== Using Financial Periods ===

We always need to remember and inform clients that the PERIOD referred to in the finance system is always a financial period. (all examples are taken wherein the current financial year is 2007)

For eg:

Period 1/2007 would be January/2007 in case the financial period is Jan to Dec.
Period 1/2007 would be April/2007 in case the financial period is Apr to Mar

Period 10/2007 would be October/2007 incase of financial period Jan to Dec
Period 10/2007 would be January/2007 incase of financial period Apr to Mar

Also if you are posting opening item journals for the previous financial year, note the following:

Period 12/2006 would be December/2006 incase of financial period Jan to Dec
Period 12/2006 would be March/2007 incase of financial period Apr to Mar