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xTuple ERP Reference Guide |
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xTuple ERP Reference Guide |
| 7.1.1. Fiscal Year | ||
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 | 7.1. Fiscal Years |  |
To create a new fiscal year, select the button. The following screen will appear:
When creating a new fiscal year, you are presented with the following options:
Specify the start date for the fiscal year.
Specify the end date for the fiscal year.
Indicates whether a fiscal year is closed or not. This option may also be used to close a fiscal year. The act of closing a fiscal year prompts the system to calculate retained earnings for the year. Once a fiscal year has been closed, the retained earnings account is subject to forward-updating just like any other general ledger account.
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| 7.1. Fiscal Years |  | 7.2. Accounting Periods |