The financial year is separate from the academic year. Nothing can be posted to the books — fees, payroll, depreciation — unless it falls in an open financial year.
- 1Go to Finance → Fee setup → Financial years and select New year.
- 2Enter a name, start date and end date, and choose the period cadence: annual, semi-annual, quarterly or monthly.
- 3Select Create. Years cannot overlap.
- 4Expand the year and select Generate periods.
Close a period when its books are final, and Lock a year to stop all posting into it. Both can be reopened.
The period cadence is fixed when the year is created — choose it carefully. Only the name and dates can be edited later.