Problem: How to change the Fiscal Year Starts?
Solution: Set up needful Entity's fiscal year starts in Accounting Parameters.
The fiscal (financial)yearis the mainreportingperiod in accounting.
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Usually financial year = calendar year, and that starts from January.
Example:
Via Statement of financial position (balance sheetBalance Sheet) report is needed to analyse May 2024:
Trial balance will show shows results from January 2024 to May 2024 (fiscal year):
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In order to change
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Example: from June
Solution: Set up needful Entity's fiscal year starts
Go Accounting - Fiscal Year Start follow the steps:
1. Go to Accounting > Entities:
2. Select the needful Entity:
3. At Accounting Parameters tab, change the Fiscal Year Starts to June and save changes:
After applied changes, opened from May 2024 Statement of financial position (balance sheetBalance Sheet) and Trial Balance will show period from June 2023 to May 2024:
