Maintain financial periods.

Fixed Assets stores a definition for each financial year, to allow period dates, closing options, and the number of periods for each year to be set. Three years are created by default when a company is created, and a new year is created at each rollover if necessary, but the financial years can be maintained manually using the Calendar window.


The top worksheet of the window shows the fiscal year; the bottom worksheet denotes that year divided into months, and fiscal periods. When any year is selected in the upper worksheet its months will be automatically displayed in the lower worksheet.

The calendar is by default set up for a twelve month financial year beginning on 1st April of the previous year (New Zealand) or 1st July (Australia)
However, you might need to change it for the following reasons:

1. To change the financial year end, if a short or long year is needed. If more or fewer than twelve months are needed in a year the year end month will change. Depreciation will be calculated accordingly.
2. To mark periods and years as closed. Fixed Assets allows multi-period data entry by default, but specific periods can be closed to restrict data entry for organisations which run a strictly period-based system.
3. To change the year convention. By default the year is set to the last date of the calendar; some businesses may want it to be the first.

Changing the calendar

To change a year's calendar information, select the year in the top worksheet and click Edit year (or double-click on the year's row). The Set calendar year window will open, allowing you to enter the year's opening date and number of months. When you click OK the year's periods will be rebuilt if necessary.

i_yellow_sm.jpg The period opening and closing dates are calculated automatically by various calendar processes. These dates will be aligned to the start and end of calendar months.  You may set these dates to not be aligned with the standard monthly calendar. Click the Edit Period button to bring up the following form.


Please note that internal validity checking may override your dates with standard dates if any calendar inconsistences are found.

Adding a year should normally be unnecessary, as a new year is added automatically when each year is rolled over. However, if you need to add a future year, click the Add year button. The Set calendar year window will open, with default values for a new year already set.

image\bm4.gif  Changes to the fiscal year should only apply to future processing dates. Attempting to alter previously-processed information could corrupt depreciation figures in a company's database.

image\bm4.gif  If security is in effect, you need at permissions of Level 10, All or Maintain Asset Details to access this option. Learn More

See also
Year end rollover
Administration menu