Difference between revisions of "Financial Year Configuration"

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== '''Financial Year Configuration''' ==
 
== '''Financial Year Configuration''' ==
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A financial year is a period,used by government, business, and other organizations for Financial Reporting(including profit and losses) and Budgeting.Financial year is used for accounting purposes to prepare Financial Statements.
  
 
== '''Roles''' ==
 
== '''Roles''' ==
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== '''Path''' ==
 
== '''Path''' ==
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 +
Finance Admin » Accounting » Accounting Configuration » Financial Year Configuration
  
 
== '''Pre-Requisite''' ==
 
== '''Pre-Requisite''' ==
  
−
== '''Terminology Used''' ==
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* Finance policy must be created
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* Finance Admin role to User
  
 
== '''Inputs Needed''' ==
 
== '''Inputs Needed''' ==
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* Financial Year Start Date
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* Financial Year End Date
  
 
== '''Functionality''' ==
 
== '''Functionality''' ==
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# Able to add new Financial Year (Only First Financial Year need to be created manually,next new financial Year will be Created automatically)
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# Able to change the status of financial year as  Active or In-active
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# Able to delete financial year (if incorrect or not needed)
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# Able to Freeze Closing Balance which will be reflected in Financial Statements
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# Able to Check logs for the changes done in Configured Financial Year
  
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== '''Screen Shots / Steps''' ==
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== '''Step by Step'''==
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# Add new Financial Year
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[[File:Financial Year Configuration.png|border|center|frameless|895x895px]]
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2. Change Status Active or In-Active
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[[File:Financial Year Configuration1.png|border|center|frameless|895x895px]]
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3. Delete Financial Year
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[[File:Financial Year Configuration1.png|border|center|frameless|895x895px]]
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4. Freeze Closing Balance
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[[File:Financial Year Configuration1.png|border|center|frameless|895x895px]]
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5. Logs
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[[File:Financial Year Configuration1.png|border|center|frameless|895x895px]]

Latest revision as of 10:12, 17 May 2020

Financial Year Configuration

A financial year is a period,used by government, business, and other organizations for Financial Reporting(including profit and losses) and Budgeting.Financial year is used for accounting purposes to prepare Financial Statements.

Roles

Finance Admin

Path

Finance Admin » Accounting » Accounting Configuration » Financial Year Configuration

Pre-Requisite

  • Finance policy must be created
  • Finance Admin role to User

Inputs Needed

  • Financial Year Start Date
  • Financial Year End Date

Functionality

  1. Able to add new Financial Year (Only First Financial Year need to be created manually,next new financial Year will be Created automatically)
  2. Able to change the status of financial year as  Active or In-active
  3. Able to delete financial year (if incorrect or not needed)
  4. Able to Freeze Closing Balance which will be reflected in Financial Statements
  5. Able to Check logs for the changes done in Configured Financial Year

Step by Step

  1. Add new Financial Year
Financial Year Configuration.png

2. Change Status Active or In-Active

Financial Year Configuration1.png

3. Delete Financial Year

Financial Year Configuration1.png

4. Freeze Closing Balance

Financial Year Configuration1.png

5. Logs

Financial Year Configuration1.png
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