{"id":2587,"date":"2023-09-20T02:10:22","date_gmt":"2023-09-20T02:10:22","guid":{"rendered":"https:\/\/nsaq.io\/docs\/%d8%a7%d9%84%d8%b3%d9%86%d9%88%d8%a7%d8%aa-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9\/"},"modified":"2023-10-17T16:26:38","modified_gmt":"2023-10-17T16:26:38","slug":"financial-years","status":"publish","type":"post","link":"https:\/\/nsaq.io\/en\/docs\/financial-years\/","title":{"rendered":"Financial Years"},"content":{"rendered":"[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]\n
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On this page, we provide a detailed and comprehensive overview of the ‘Financial Years’ page, how to access it, its features, and its uses, along with an explanation of how to add, modify, and delete financial years.<\/span><\/p>\n

To access the ‘Financial Years’ page, please follow these instructions:<\/strong><\/span><\/h3>\n
    \n
  • Start by clicking on the ‘Settings’ menu in the main navigation.<\/span><\/li>\n
  • Then, click on ‘Financial’ available in the top bar of the page.<\/span><\/li>\n
  • You will be taken to the ‘Financial Years’ page, which displays all the financial years saved in the system.<\/span><\/li>\n<\/ul>\n

     <\/p>\n

    Features and Uses of the ‘Financial Years’ Page:<\/strong><\/span><\/h3>\n
      \n
    • Unlimited Financial Years:<\/strong> You can easily create records for future financial years as the system allows you to add an unlimited number of financial years. This enables the company to plan for upcoming years and organize financial records for each year separately.<\/span><\/li>\n
    • Modify Financial Years:<\/strong> You can edit the basic information of added financial years as needed. You can change the status of a financial year from open to closed and vice versa. When closing a financial year, it prevents the addition or modification of any documents or transactions in that year without changing its status back to open. This action helps ensure data integrity and supports financial reporting and auditing.<\/span><\/li>\n
    • Delete Financial Years:<\/strong> Deleting previous financial years is allowed, but caution must be exercised when doing so. Deleting financial years requires the migration and closure of accounts from the previous year and then adding their balances to the new year.<\/span><\/li>\n<\/ul>\n

       <\/p>\n

      Explaining How to Add a New Financial Year:<\/strong><\/span><\/h3>\n
        \n
      • Start of the Financial Year:<\/strong> Enter the start date of the new financial year according to the company’s system. For example, the date could be “01\/01\/year – 06\/01\/year” based on the system.<\/span><\/li>\n
      • End of the Financial Year:<\/strong> Enter the end date of the new financial year according to the company’s system. For example, the date could be “12\/31\/year – 06\/30\/year” based on the system.<\/span><\/li>\n
      • Financial Year Status:<\/strong> Select whether the financial year is open or closed. You can control its status through this option.<\/span><\/li>\n<\/ul>\n

        After filling in all the required details, click the “Add New Record” button, and the new financial year will be successfully added to the system.<\/span><\/p>\n

         <\/p>\n

        Explaining How to Modify a Financial Year:<\/strong><\/span><\/h3>\n
          \n
        • Access the ‘Financial Years’ Page:<\/strong> Follow the instructions mentioned earlier to access the ‘Financial Years’ page.<\/span><\/li>\n
        • Select the Financial Year:<\/strong> Click on the financial year you want to modify.<\/span><\/li>\n
        • Edit Details:<\/strong> You can now edit the start date, end date, or the status of the financial year.<\/span><\/li>\n
        • Save Changes:<\/strong> After making the necessary modifications, click the “Save” button to save your changes.<\/span><\/li>\n<\/ul>\n

           <\/p>\n

          Explaining How to Delete a Financial Year:<\/strong><\/span><\/h3>\n
            \n
          • Access the ‘Financial Years’ Page:<\/strong> Follow the instructions mentioned earlier to access the ‘Financial Years’ page.<\/span><\/li>\n
          • Select the Financial Year:<\/strong> Click on the financial year you want to delete.<\/span><\/li>\n
          • Delete Financial Year:<\/strong> There should be an option to delete the financial year. Click on it.<\/span><\/li>\n
          • Confirm Deletion:<\/strong> The system may prompt you to confirm the deletion, as deleting a financial year is a critical action. Confirm the deletion if you are sure about it.<\/span><\/li>\n
          • Migrate and Close Accounts:<\/strong> As mentioned earlier, deleting a financial year requires migrating and closing accounts from the previous year and adding their balances to the new year. Ensure this process is completed accurately.<\/span><\/li>\n<\/ul>\n

            Using these features and options available on the ‘Financial Years’ page, you can effectively organize and manage financial accounts for different years according to your company’s needs.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n[\/vc_column_text][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"

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