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Fiscal Years

FirstOffice has a multi-year database. In this setting you can define several financial years. Each year must have a Code, and can be between 6 and 18 months in duration. The Code will be used as a prefix for Transactions entered directly to the Transaction register in the Nominal Ledger.

Note that you should always list your Fiscal Years in chronological order as shown in the illustration. You cannot insert new Fiscal Years at the top of the list, or remove old Fiscal Years. You should not make any changes to a Fiscal Year once a transaction has been posted.

FirstOffice will issue a warning whenever you try to post a transaction whose date does not fall in a Fiscal Year as defined in this setting.