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Setting up Time Period (Fiscal Year)

This page describes how to set up a Time Period (Fiscal Year)

Setting of the fiscal year can now be done in AccountingGuru

The primary objective for creating this feature is to reduce the data entry errors.

We have already seen how to create a company.   Let us now see how the fiscal year or the time period can be updated to an existing company.

To do this, once we login in and select the company, 
  • click on the "Settings" menu.   The below screen appears.

  • Click on the "Company Settings" 
  • Click on "Time Period".   The below screen appears
  •  Click on "Add New Time Period",  to add the next fiscal year.
  •  Select the year from the "Dropdown" list 
  •  Click on "Add".   By doing this the next fiscal year is added.

  Next time we login to view the company details we will be able to select the fiscal year for which accounting needs to be done or reviewed.

 How the data entry errors are reduced can be viewed under the "Validation of Invoices /Payments"