End of Financial Year 2024 - finPOWER 5 Help Guide
Opening a new financial year:
Prior to the beginning of April (for financial year ending 31/03/2024), a new financial year will need to be opened.
To complete go to Tools, Global Options, Calendar
Opening a New Financial Year 2024 – 2025
- Check the “CLOSED DATE”and change to 01/03/2024
- Check the “OPEN DATE” and change to 31/03/2025
- Click Apply and OK
The last month of the previous financial year is still open for adjustments.
Closing a financial year 2024
Following the completion of your loans and postings for the financial year end 31/03/2024 you need to close your calendars.
To complete go to Tools, Global Options, Calendar
- Check the “CLOSED DATE”and change to 01/04/2024
- Click Apply and OK
When you have completed your tax year this will ensure nothing further is backdated to that period.