Financial Period 0 (Zero)

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

 

: Setup financial period

 


 

At [Setup], click [Financial Period]

 

 

 

If this is the first time you come into this Financial period setting, there is a default financial period [0] (zero) that is preset from 1990 to Dec 20XX  by the system
(where XX= 2021 ...depending on the year you subscribe to Realtimme cloud).

 

 

 
 
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 2019,2018,2017 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.

 

However, if your year end is March , you can change the period [0] year ending from...example,  to ending March 2021.

 

Follow the steps from [1] to [4]

 

 
Next, set Financial period [22] to start from April 2021 and ends in March 2022,
Continue to change for the next period 23, 24, 25, etc.

 

 

2. All opening balances from customer, supplier and general ledger must be on or before this date (Financial period [0])

 

 

If your company is a new setup, there will not be any opening balances brought forward of your customers' ; suppliers' and general ledgers.

 

 

Note : Financial period 0 is set to commence from 1990 Jan until the year and month before starting the Realtimme system.

 

If your company is a newly setup company, ignore the "0" period, set your Financial period "2X" for year 202X onwards as your first starting year.
 

Note that the system does not accept overlapping of financial month across two period.

A warning message will appear below if you attempt to do so.

 

 

 

 

Notice that all financial month need to be accounted. The screen below has a gap, which will not be allowed if posting to Jan 2022 to May 2022

 

 

Next, go to Getting Started, Topic 4 : Chart of Accounts

or     Back to Getting Started

 


 

Related Topics

System message : Sorry financial period not found

 

Balance : See Year end

 

 

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Realtimme Training Portal

 

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