Set your company Financial Period

At [Setup], click [Financial Period]

Exercise : Assuming your first (starting) financial period for Realtimme Cloud system is to begin 1st April 2021 to ending 31st March 2022,

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 6 to 10 at a later date.

 
Click Next topic : Financial period mid-way

FAQ:

Effect of  Deleting Financial period after transactions are posted

Deleting of financial period will not have effect on the posted data. However, Profit & Loss and Balance Sheet

Reports will not be printed as financial period will not be found. Re-enter the period and print again.

Effect of Editing (changing) financial period after transactions are posted.

Profit and Loss and Balance Sheet Report will be affected. System base on financial period to determine the cut-off date for Balance Sheet items to be brought forward and Profit and Loss accounts to be zero off to the next financial year.

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