Financial Period (FP) 财政期间

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This topic require you to have fairly good accounting knowledge. You may want to seek your accountant or our support team for assistance.

 

Financial period sets out your reporting period on an annual basis. You may start your company business in any calendar month of the year and, in order to coincide with your selected year-end, may be more than 12 months but not exceeding 18 months for the first financial period. Please consult your accountant or your auditor for more information.

 

Your Profit and loss and Balance Sheet report will be determined by the setting here.

 

Click Setup -->Financial Period

 

 

 

: Setup your company financial period                                         Related Topic: Year End   Clear Bal

 


There are a few pre-set financial period as shown below.
 

 

Click on the relevant topics below to expand on each topic of financial period settings

 

What is the meaning of Financial period [0]...Read more...

 

Financial period zero [0] is for company that is migrating from other system to Realtimme Cloud system,having opening balances to be recorded during this period.
There will be amount owing in year 2021,2020,2019,2018 etc, which will have to be reflected in Financial period [0]

 

If your company is a new start-up  in year 2022 with all accounts starting with zero balances, you can ignore this topic, go to the topic : Financial period [22]

 

 

           

Note: You cannot delete this financial period [0] ,   if you try to delete this, a message below shall appear.

 

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What is the meaning of Financial period [22] and above , 23 , 24 , ....Z6...Read more...

 

Financial Period [22] will be the first starting year 2022 that the accounting records be entered into Realtimme Cloud system. (Assuming your year end is December, click her if not December)

 

 

By default, the system sets the year end as December up to period 26 (see above to 2026).
 
 
Click [Add] to create period [27] for your 2027

 

 

 

                 or you may continue to add period 6 to period 10 at a later date.

 

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Financial period year end is other than December...Read more....

 
Exercise : For illustration purpose, assuming your first (starting) financial period for Realtimme Cloud system is to begin 1st April 2022 to ending 31st March 2023,

 

First, set period [0] to end at Mar 2021

 

 

 

Change Financial Period [22] date range

 

 

 

 

Continue to set financial period 23 and 24 onwards....

 

You should see a final setting as shown below for all the 5 periods. You may continue to add period 27 to 30 at a later date.

 

 

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Financial period more than 20 months...Read more...

 
Realtimme Cloud system allow you to set more than 12 months but not more than 20 months in each financial year.

 

Example: Year 2026 year end is March change to December 2026

 

       

     

 

   If exceeded 20 months, a message below will appear (updated as at 8th April 2020 from 18 months)    

 

 

 

 

 

 

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Change financial period...Read more...

Your year end is Dec throughout from 2020 to 2023.
During merger or acquisition , some company need to change their financial period to coincide with their headquarter.

Assuming for period 2024, your new financial period will now end in 2024 March. Follow the step [1] to [11] below

Follow the steps from [1] to [9]

     

 

What if I need to key in backlog for 2021 or earlier account?

 
Follow the steps from [1] to [9] to add a new financial period
               

         

   
     
 

Next topic 4: Modify or enhance the chart of accounts (COA)

Back to Getting Started


 

Related Topics

Opening Balance - General Ledger

 

Opening Balance - Customer

 

Opening Balance - Supplier

 

Opening Balance - Accounts

 

Opening Balance - Bank reconciliation

 

Unappropriated Profit & Loss or Retained Earnings

 

Year end closing To close your full year accounts

 

Getting Started See Step 2

 

FAQ : Financial period not found

 

FAQ : Backdated Financial period to do late accounts

Watch all videos:

Realtimme Training Portal

 

http://realtimme.cloudapp.net/basic/index.html?financial_period.htm