It is within this screen that accounting periods are opened, and when deemed appropriate marked as either in preparation or Closed. For the second and subsequent periods, the start date is taken automatically from the preceding period. These implications of these makers are:Prepared: Simply a warning that the accounts are being worked on. and only users with sufficient security will be able to post on this entity. Closed: No changes can be made to these accounts/years.
Although the system can support 99 financial years per entity only 3 years can be open at any time
To create an new financial simply click on the Plus button on the side panel. To Open/ Close a year or amend the description or mark in Preparation, just right click on the Year Ending period on the right hand side display a further menu.