All Standard products have multi-year databases: they can contain accounting transactions from more than one Fiscal Year. You must define a Fiscal Year using this setting before you can post transactions to it. Each year must have a Code, and can be between 6 and 18 months in duration.

If you are using Standard Accounts, you will find the Fiscal Years setting in the System module. Use the [Module] button in the Master Control panel to enter the System module before working with this setting. Then, as in every Standard product, open the setting by first clicking the [Settings] button in the Master Control panel and then double-clicking 'Fiscal Years' in the 'Settings' list. To save changes and close the window, click the [Save] button. To close the window without saving changes, click the close box.

You should always list your Fiscal Years in chronological order as shown in the illustration below. You should not attempt to insert a new Fiscal Year at the top of the list, and you should not remove past Fiscal Years. You should not make any changes to a Fiscal Year once a transaction has been posted.

The Code will be used as a prefix for the Transaction Numbers of the Transactions that you enter directly to the Transaction register. For example, referring to the illustration below, Transaction 1 dated during 2011 appears as "2011.1" in the 'Transactions: Browse' window:

If you need to produce a report in which you want to report on a range of Transactions, you should include the Fiscal Year prefix in the range. For example and referring to the illustration above, reporting on the range "2011:1:2011.4" would result in a list of the Transactions from January and February 2011.

As you cannot post a transaction whose date does not fall in a Fiscal Year as defined in this setting, it is recommended that you only add Fiscal Years one at a time as you need them. This will help prevent accidentally saving transactions in future years.

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