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To populate the information about a financial year select it from the year drop down list.

Auto-create of Financial Years

After a journal is saved, if the latest created financial year for the journal ledger host company ends less than a year after the journal date then a new financial year will be created for the year following

1. GL Control Configuration form (Admin menu, Finance, GL Control Accounts), GL (Advanced) tab:

   1. New field ‘Financial Year Name Format’.

   2. Name will be converted to upper case.

   3. Key strings in the format will be replaced:

      1. {SY} will be replaced with the 2 digit calendar year that the financial year starts in, e.g. 2021 = 21.

      2. {SY4} will be replaced with the 4 digit calendar year that the financial year starts in, e.g. 2021.

      3. {EY} will be replaced with the 2 digit calendar year that the financial year ends in, e.g. 2022 = 22.

      4. {EY4} will be replaced with the 4 digit calendar year that the financial year ends in, e.g. 2022.

   4. Other characters will be left unchanged, e.g. if the financial year ends 30/6/2022 FY{SY}{EY} = FY2122 or FY {EY4} = FY 2022.

2. After a journal is saved, if the latest created financial year for the journal ledger host company ends less than a year after the journal date then a new financial year will be created for the year following the latest created financial year, using the name format shown above.

To create a new Financial year

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When the last period that was open in a financial year is closed the year will be calculated

Roll Account Totals recalculates all the GL Accounts for all time until the last closed period and also updates the retained earnings for each year.

The Standard Financial Reports Module in the system use the calculated Retained Earnings Figure

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Opening Balances

Usually created by Upload or Import a General Journal from Excel

Cross Period Explorer Tab

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