Enterprise by HansaWorld uses a multi-year database. This means that Transactions, Invoices etc. from several years are stored in the same database. Closing balances for all Balance Sheet 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.

An Enterprise by HansaWorld database is continuous. There is no requirement to divide a fiscal year into periods, and therefore no requirement to lock a period before you can open the next one. It is possible to extract reports for completely arbitrary periods. However, when you come to the end of a month or quarter and have printed the Profit & Loss and Balance Sheet reports, you may want to prevent the posting of further accounting transactions, because doing so will change the results of that month or quarter. To do this, you can specify Lock dates. A Lock date can be any date during the year. No transactions whose Transaction Date is on or before the Lock date will be permitted.

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

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In this chapter:

Introduction
Workflow
Multi-year Database

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