Create New Accounting & Tax Periods

In order to continue transacting into the next financial year, you will need to ensure that you have created your Accounting Periods and Tax Periods.

Otherwise you will encounter an error such as the below example when trying to create a new Invoice dated in an Accounting Period that does not exist.

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Create New Accounting Periods

  1. Go to Set up > Accounting > Manage Accounting Periods.
  2. Select Set up Full Year.
  3. Enter your First Fiscal Month, Fiscal Year End etc. For most businesses, this will probably be as shown below:
  4. Save

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Create New Tax Periods

  1. Go to Set up > Accounting > Manage Tax Periods
  2. Select Set up Full Year
  3. Enter your First Fiscal Month, Fiscal Year End, etc.
  4. Save

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