Current Fiscal Year

Users have the ability to decide which Fiscal Years and Periods are active. The advantage of this is having the ability to close certain Periods and therefore not being able to post Transactions in that timeframe, avoiding any possible mistakes.

Activating Fiscal Years and Periods

To activate a Fiscal Year and Period, navigate to the tab, and select the icon. This will open the Fiscal Year screen.

Use the Fiscal Year drop-down box to select the year you wish to activate. Make sure to de-select the button. The Periods for the Fiscal Year selected will appear.

Using the boxes under the Active column, select the Periods you wish to make active.

Note

If a Fiscal Period is not active, Financial Transactions (i.e. Cash Receipt from the A/R module; making a Payment on an A/P Voucher from the A/P Module; or a Journal Entry) will not be accepted. The Fiscal Period must be active to allow Financial Transactions to take place. You will know that the Fiscal Period is not open if you try to save a Transaction and you receive the following pop-up window:

Re-activate the Current Fiscal Period.

Make sure to save before exiting the screen.

De-Activating Fiscal Years and Periods

To de-activate a Fiscal Year and Period, navigate to the tab, and select the icon. This will open the Fiscal Year screen.

Use the Fiscal Year drop-down box to select the year you wish to de-activate. Click on the box. This will display all of the Fiscal Periods that are active.

Using the boxes under the Active column, de-select the Periods you wish to de-activate.

Make sure to save your changes before exiting the screen.