Financial Year Setup

The Financial Year section lets you define the accounting period used for sales, purchases, expenses, and reporting.

Setting this up correctly is important. It helps keep your reports accurate, makes audits easier, and ensures your financial data is always aligned with the right time period.

What You Can Do in Financial Year Settings

From this section, you can:

  • define the start and end of your accounting year
  • mark which financial year is currently active
  • review previously created financial years
  • archive older years without deleting them
Financial Year Setup

How to Access Financial Year Settings

To open this section:

  1. Go to Back Office
  2. Click the Settings icon (top-right corner)
  3. Open the Account tab
  4. Select Financial Year

Financial Year List Overview

Once you open the page, you’ll see a list of all configured financial years.

Each row shows:

  • Financial Year (name or label)
  • From Date
  • To Date
  • IsCurrent (active year)
  • IsArchive (archived status)

You can use this list to quickly check which year is active or review past records.

To add a new year, click Create.

Financial Year Setup

How to Create a Financial Year

Follow these steps to add a new financial year:

  1. Click Create
  2. Enter a label (for example, 2026–2027)
  3. Select the From Date
  4. Select the To Date
  5. Set Is Current? to true if this is your active year
  6. Click Save
Financial Year Setup

Best Practices

A few things that usually help:

  • Create the next financial year before the current one ends—this avoids last-minute setup
  • Keep only one year marked as Is Current
  • Use IsArchive instead of deleting old records
  • Archive past years once all entries are finalized

Why This Matters

Your financial year setup directly affects how reports are generated.

If the dates are not set correctly, reports like Balance Sheet or Profit & Loss may not reflect the right data. Taking a minute to configure this properly saves a lot of confusion later.