How to: Open a New Fiscal Year
Before you can post in a fiscal year, you must open the fiscal year and define its accounting periods.
To open a new fiscal year
In the Search box, enter Accounting Periods, and then choose the relevant link.
On the Home tab, in the Process group, choose Create Year.
On the Options FastTab, define the structure of the fiscal year. The fiscal year is usually 12 periods of one month each, but you can also divide it in other ways.
Fill in the fields.
For more information about a specific field, select the field, and then press F1.
Choose the OK button.
The accounting periods are created, and the result is shown. The Starting Date field and the Name field are filled in with the name of the month from the starting date.
After the last period in the fiscal year, an accounting period is inserted with the New Fiscal Year field selected.
Important
In concordance with French law no more than two open fiscal years are allowed.
See Also
Tasks
How to: Specify Posting Periods
How to: Close Years
How to: Post the Year-End Closing Entry
How to: Fiscally Close Years