Settings related to financial years can be found in the accounting menu under Settings - Financial years.
When Heeros accounting is implemented, financial year information can be copied from the accounting model company during the establishment of the company. If accounting periods have not yet been created at the time of establishment or if additional periods are desired to be created annually later, they can also be established directly in the Financial years view.
Creating a new financial year starts with the New button.
Accounting period - Specify the end year of the accounting period.
Description - The name of the accounting period.
Start and End Date - Determine the length of the accounting period.
Locked - This setting can allow or prevent the entry of transactions for the accounting period and the modification of already entered transactions. If necessary, the lock on the accounting period can be removed by selecting No in the setting.
Setting up accounting periods - Decide whether to also establish periods at the same time as the financial year is created. It is recommended to establish periods when the financial year is created.
- With the According to months option, the program creates each month as its own period.
- With the According to VAT tax return notice periods option, the program creates periods according to what has been selected in the settings (General - VAT - tab) for the reporting period (1 month, 3 months, or 12 months).
- With the Periods not to be established option, the program does not create periods, and they must be established manually in the Settings - Periods view.
Note! If the accounting period is different from the calendar year, it is not advisable to copy accounting periods when establishing a new company.
Note! Especially if data is to be exported to, for example, Talgraf or Accuna, it is advisable to establish periods for the first financial year for the entire period or alternatively one period covering the entire financial year. The starting situation (income statement and balance sheet) is entered into the accounting on the last day of the financial year, but in order for the necessary information to also transfer to Talgraf/Accuna, there must also be period information on the first day of the financial year.
Note! If the accounting period is modified after transactions have already been recorded for that accounting period, it may cause a situation where the transactions do not transfer to the modified accounting period. Instructions for updating transactions back to the correct accounting period can be found here.