Accounting Periods

Why Accounting Periods are important and how to set them up.

Accounting Periods in Workbooks are used for setting specified periods (e.g. financial years). These are important because they allow you to generate Forecasts or Quotas and you won’t be able to generate Reports based on specific Accounting Periods, so make sure you set yours up before starting to use Workbooks.

Within Workbooks an Accounting Period is assigned to financial records, such as an Invoice which will enable you to track and report your financial performance by period and groups of periods.
 

Setting up your Accounting Periods

To set up your Accounting Periods click Start > Configuration > Accounting > Accounting Years. Click on Add Accounting Year and choose if this is a Future or Previous accounting year.

Workbooks will populate all the fields for you except Period style BUT check that the Year Name and Start and End Dates are correct and in line with your Financial Year. The accounting period will always default to last a year but if this does need to be amended it can be after the accounting period has been created and if this is the latest accounting period.

In the picklist for Period Style you will be given 3 options:

• Calendar Months
• 4-4-5 week pattern
• Quarters

When you’re happy that the data is correct, click Create.

If you want to delete the Accounting Period you have just set up, click on the accounting period, and then click on Delete. Just note that you are only able to delete the latest accounting period.