Create and edit fiscal year

In AbaNinja, you can create fiscal years with custom durations that do not necessarily have to correspond to the calendar year. This feature is only available if you have a paid subscription or an active connection to Abacus Financial Accounting (AMID). The fiscal year determines the period for which your accounting is conducted.

Benefits:
With this feature, you retain full control over your accounting periods and can adjust them flexibly to your business needs. The correct setting of the fiscal year is essential for proper accounting and for the creation of annual financial statements and tax returns.

Requirements

• The start date of a fiscal year must always be the first day of a month (e.g. 01.02.2023).
• The end date is always the last day of a month (e.g. 30.04.2023).
• Within a calendar year, only one fiscal year can begin. This means that there cannot be two fiscal years with a start date in the same calendar year (e.g. 01.01.2022 to 30.06.2022 and 01.07.2022 to XY is not allowed).
• The end date can only be changed at the last open fiscal year. For example, if you have open fiscal years 2020, 2021 and 2022, you can only adjust the end date at the 2022 fiscal year.
• When you open a new fiscal year, it will automatically be set for 12 months from the day after the end date of the previous fiscal year (e.g. end date 31.01.2022, new fiscal year from 01.02.2022 to 31.01.2023).
• It is not possible to shorten a fiscal year if there are already entries in the period to be shortened (e.g. the end date cannot be changed to 31.03.2023 if there are already entries for April 2023).

Notes and tips

• The function for creating and editing fiscal years is only available with a paid subscription or an active Abacus Financial Accounting.
• Make sure you do not create fiscal years with overlapping start dates in the same calendar year.
• Changes to the end date are only possible at the currently last fiscal year and only as long as there are no entries in the period to be changed.
• The opening of a new fiscal year is automatic with a period of 12 months after the previous fiscal year.
• Plan your fiscal years in advance to ensure a smooth transition and correct bookings.
• For detailed settings and further information on accounting and billing methods, please read the corresponding chapters in the AbaNinja help.