Opening a Financial Year

Once the financial year has been completed and it is ready for use, amend the status to open by selecting the option from the action menu. This does not open the accounting periods. These are opened separately in Manage Periods (FCP).

Specify this information:
Change Year

To create multiple financial years to one financial calendar, select this option to create another financial year. You can also use this option to view existing financial years.

Assign/Unassign

The open status allows the financial year to be assigned to a business unit. To open Financial Calendar Assign Business Units, click Assign. To unassign business units click Unassign.

Amend Year
Select Amend Year from the Action menu to change any of the following details for the Financial Year:
- Start Date
- End Date
- Default Period Method
- End Adjustment
- Number of Adjustment Periods
- Total Number of Periods
- Validate Transaction Dates
- Default Period Description Type
- Default Period Description
If business units assigned to this Financial Year have accounting periods in their transactional data which could be impacted by any of these changes, the following message is displayed, Transactional data could be impacted by the change to the Financial Year. OK Yes/No?'. If you select Yes to this message transactional data could be impacted by the change to the Financial Year.
Amend Periods

Select this option from the Action menu to make manual amendments to start and end dates and the accounting period descriptions.

History

Select this option from the Action menu to view the history of the Financial Year.

Amend Language

Select this option from the Action menu to change the language code for the Financial Year.

Activate Calendar

Select this option from the Action menu to activate the calendar for the Financial Year.
Save your changes.