Accounting periods
Period, for which financial statements are made in mode provided by legal rules. Calendar year or another period used in tax purposes. Accounting period or its changes are defined by status or agreement on which basis a unit was created. If unit had started its activity in the second half of defined accounting period then financial statement and the books for this period can be connected with financial statement and the books of the next accounting period.
Periods are used in order to logically divide the database. Each accounting period has its own chart of accounts, its own set of ledgers, and general ledger is expressed in context of accounting year.
The list of accounting periods is available in the Configuration menu under Accounting button group.
Figure 71 Accounting Periods registry in tab Configuration.
The accounting periods window is divided into two panels:
List of accounting periods with following information: Symbol, Opening date, Closing date, Description.
List of ledgers with the following information: Symbol, Name
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Figure 72 List of accounting periods.