FirstOffice uses a multi-year database. This means that Transactions, Invoices etc. from several years are stored in the same database. Closing balances for all accounts at the end of one financial year are automatically converted into opening balances for the beginning of the next. The multi-year database thus simplifies your end-of-year procedures.

FirstOffice's database is continuous. Transactions are stored continuously, with no periods fixed in advance. It is possible to extract reports for completely arbitrary periods. When you finally reconcile a particular period, you can close it for further entries. However, you can have as many periods open as you wish.

Each set of transactions has its own Number Series. There is no limit to the number of series, which can be set up in each module using the 'Settings' function.

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