How to define a fiscal year?

How to define a fiscal year?

In any Business, there are various types of Cash Transactions in form of Cash Receipts, Cash Expenditures, Opening balances at beginning of the Month, and Closing balances at end of the month. So in order to define all types of Cash transactions whether it is Cash In, Cash Out, Opening Balance, or Closing Balance, define the Cash Forecast Category that possesses a group of all Cash Forecast Types.

To create a fiscal year navigate to

A list of all the fiscal years created appears here as shown in the figure below.

Click on CREATE button to create a new Fiscal Year

  • Fill in the details and then click on the Save button

  • The fiscal Period as shown below is created

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