Before you can post in a fiscal year, you must open the fiscal year and define its accounting periods.
For many companies, the fiscal year does not coincide with the calendar year. Fiscal periods can be measured in other units of time, such as months or quarters. You can use the Create Fiscal Year window to set up the accounting periods that suit your business needs.
INDEX:
| Sr.No. | Description |
| Setup- 1 | General Ledger Setup |
| Setup- 2 | Accounting Periods |
| Setup- 3 | Income Tax Accounting Periods |
| Setup- 4 | GST Accounting Period |
| Setup- 5 | FA Accounting Periods Inc. Tax |
| Setup- 6 | No. Series Setup |
| Â | Example for Entry in Previous Year after new year |
Setup- 1: General Ledger Setup:
Setup- 2: Accounting Periods:
Click on Create yearÂ…
Setup- 3: Income Tax Accounting Periods:
Set Fiscal year Quarters
Setup- 4: GST Accounting Period:
Create Quarters (Sub PeriodsÂ…)
Setup- 5: FA Accounting Periods Inc. Tax:
Setup- 6: No Series Setup:
Repeat Setup- 6 for Other No SeriesÂ…
Example for Entry in Previous Year after setoff new year
- Suppose TodayÂ’s Date is 01/04/2020 and you want to perform & post transaction in previous Fiscal Year with Old No seriesÂ…
- Step- 1: Change Work Date
- Step- 2: Enter Previous Fiscal Year Transaction Date & Press OK Button
- Step- 3: Perform & Post Transaction
(System will automatically set old no series with Transaction)
- Step- 4: Repeat Step- 1 & Step- 2, and set TodayÂ’s Date for routine work
If your company is looking for ERM services in Vadodara or anywhere around the globe, drop an email to enquiry@dhyey.com and our team will be glad to set up a free demo for your brand!
