The fiscal year end is generally defined only once during the agrē setup process. However, if your business practices change or if you use custom accounting periods, use the Manage GL Administration window to change your fiscal year end.
When you change the fiscal year end, it must correspond to an accounting period end date, which can be a month end date or the last day of a custom-defined period.
Note
A fiscal year end of February 28 is set automatically to February 29 in a leap year.
Additionally, you can change the fiscal year end date even if it has passed, providing that the fiscal year is still open and the new fiscal year end date corresponds with an existing period end date.
To set the fiscal year end
Navigate
to General Ledger > Manage
> GL Administration.
The Manage GL Administration window opens.
Under Set Fiscal Year End Date, select the month and day for the fiscal year end.
Click Save.
Tip
Find more information about Budget settings to help you decide if you want to calculate the company budget from the location budgets.