Menu Path: Accounting > Maintenance > Configuration > Edit Financial Year and Period
- Click on the Edit Financial Year and Period button.
- The following interface will be navigated.
- Select the Company and click the Set Company button.
- Select the Financial Year and click Submit.
- Ensure that the Auto generated Retained Earnings field is ticked.
- Upon clicking the last Submit button, the following sample image will be displayed.
Function:
- (Tick) Auto generated Retained Earnings: To transfer Profit or Loss for the period to Balance Sheet Account (Replacement of Month End Processing function)
- Update monthly period description
- Update Quarter Update Quarter : Q1, Q2, Q3 and Q4 : Allow to view Profit and Loss Statement by Period; Balance Sheet by Period
- Lock monthly period transaction (Selection of OPEN, LOCK GL, LOCK TXN, LOCK ALL)
...
- .
- Click the Update button.
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