Settings related to periods can be found in the accounting menu under Settings - Periods.
Periods register is established for periods, among other things, for VAT reporting. It is recommended to create periods automatically during the establishment of the financial year. Alternatively, periods can be created directly in the Settings - Periods view.
Creating a new period starts with the New button.
Accounting period - Select the financial year for which the new period is being established.
Start and End Date - Determine the length of the period.
Accounting Period describes the sequence number of the period starting from the beginning of the financial year. In the general settings of the accounting, on the VAT tab, the reporting period (1 month, 3 months, or 12 months) is defined, based on which the program suggests the length of the period. Established periods are utilized as limiting factors in views and accounting reports as well as in VAT calculations. In VAT calculations, it is also possible to provide a date range for which the VAT calculation is performed.
Locked - If the period is locked, no transactions can be entered for it, and transactions already entered for that period cannot be modified. If necessary, the lock on the period can be removed.
Month describes which calendar month is being referred to. For example, for a split financial year from June 1 to May 31, July (July 1 to July 31) is the seventh (7th) month, and the accounting period for that period is two (2).
Note! If periods are modified after there have already been entries recorded for that period, it may cause a situation where the entries do not transfer to the modified periods. Instructions for updating entries back to the correct periods here.