In this guide, we show how to Create a New Finance Year within the Finance Module.
Access: The minimum permissions required to Create a New Financial Year are found in the Finance Module section Config > Setup > Roles & Permissions.
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Before closing an old financial year, the New Financial Year needs to be defined. A New Financial Year can be edited before the year is open, but not once the setup is complete.
A New Financial Year can be created at any time in advance of its start date, but not after its start date.
To begin, go to Modules > Finance > Finance Home Page > Maintenance > Financial Years and Periods.
Select New to create a New Year.
Enter the Year details, following the naming convention used for previous years. Check the Start Date and the Next year begins dates are correct. The system assumes that these will be the same day and month as the previous year. It is possible to Open the Order Book now, if required, by clicking the Order book open (all users) box. To complete the process click Save.
Click on the Newly Created Year and check the Start Date for each month is correct, and that the Next year begins on the correct start date.
When satisfied that the information on this screen is correct, click on the Close button to return to the Finance Home Page.