Accounting Periods
Purpose
This card is used to set up your company's accounting periods. Most companies set up twelve periods, each of which begin on the first of the month and end on the last day of the month. The fiscal year usually starts on January 1st and ends on December 31st. You can, however, define them any way you want. Another common usage is thirteen four week periods.
Usage
1. Edit Fiscal Year data.
Choose the start and end dates of the fiscal period, and the current fiscal year.
2. Edit the periods.
Choose the beginning date of each period. To limit the number of periods, simply leave one blank. For example, to have twelve periods instead of thirteen, leave the thirteenth period blank.
To mark a period as closed check the Closed option. If a period is closed, then it will no longer accept transactions.