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In this article we will cover the following topics:
How to modify an accounting period
Sometimes the accounting period dates need to be changed for different reasons. Go to Accounting > Settings > Periods and change your fiscal year's start/end date.
The modification of these dates will only shift the accounting periods in time. The entries concerned will then only be attached to another fiscal year.
Example: Your accounting period runs from January 1 to December 31. You entered an accounting entry on May 5. If you enter a new start date of June 1, the entry of May 5 will no longer be taken into account in this fiscal year but in the previous fiscal year.
Factors to take into account
There are a few key points to take into account when modifying your accounting periods:
Continuity between fiscal years
To modify a period's start or end dates, there must be continuity between the fiscal years.
For example, you have two accounting periods: one from 01/01/2019 to 12/31/2019 and another from 01/01/2020 to 12/31/2020. If the new fiscal year 2020 start date is 01/02/2020, then the fiscal year 2019 end date should be 31/01/2019.
Non-modification of a closed fiscal year
If you have closed a fiscal year and wish to modify the dates of this fiscal year afterward, you must re-open this fiscal year. We invite you to consult this article to cancel an accounting closing.
Obligation to attach an entry to a fiscal year
If an entry is independent of a fiscal year and is attached to a new accounting period after modification, it must still belong to a fiscal year, whatever it is.
It will, therefore, not be possible to modify an end or start date of a fiscal year if this pushes entries outside the accounting periods created in the software.
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