Financial Calendar

The Financial Calendar option in Company Preferences displays the financial periods which are used for the current company and also can be used to close or lock financial periods.The Financial Calendar is initially defined when you first created the company however you can go back and change the financial calendar by changing the Financial Year Start Date. Avanti caters for both 12 and 13 period financial years.

Closing Periods

Closing a financial period effectively locks that period from any changes in the software. You will not be able to enter new transactions in a closed period or make amendments to existing transactions inside a closed period. This is useful where you have reconciled a period, whether for VAT or financial reporting, and do not want anyone to go back in and make changes.

To close a period, highlight it in the list and click the Close Period button or double-click the relevant period in the list. When a period is marked as closed it will display a lock icon next to the period in the right-hand column. To unlock a period, which you can do at any time, highlight it in the list and click the Open Period button or double-click the period in the list so that the lock icon is removed.

Ensure you click one of the Save buttons in Company Preferences to confirm the changes to the financial calendar.