Financial periods are user definable units of time, usually a financial year. However there can be several smaller financial periods to accommodate reporting needs. Alternatively, if financial periods / reporting are irrelevant to your organisation then simply define a single financial period over a long period of time, e.g. 10 years.
Create a financial period
- Go to Funds>Financial Periods.
- Click New Record in Context.
- Enter a Short and Long Description e.g. for the current financial year.
- The Start Date defaults to the End date of the previous financial period on the system. This can be changed.
- Enter an End Date in the correct format 01-JUL-2009.
Next combine the Account(s) you have created with the correct Financial Period to create Account Instances that you can place Orders against.