📆 Fiscal Year in VinAR-ERP

A Fiscal Year is a 12-month period used to record and report financial transactions for a business or organization. It helps in preparing financial statements, tax reports, and budgets.

🔹 What is a Fiscal Year?

A Fiscal Year may or may not align with the calendar year (January 1 – December 31). Businesses can choose their Fiscal Year based on tax regulations, industry standards, or operational needs.

For example:
✔ Standard Fiscal Year: January 1 – December 31 (same as the calendar year).
✔ Alternative Fiscal Year: A company with seasonal sales might start its Fiscal Year on July 1 or October 1 to match revenue cycles.

🛠️ How to Set Up a Fiscal Year in VinAR-ERP

📍 Go to:
Home > Accounting > Setup > Fiscal Year

1️⃣ Click "New" to create a Fiscal Year.
2️⃣ Enter the Start and End Dates.
3️⃣ Click "Set as Default" if this is your primary Fiscal Year.
4️⃣ For multiple companies sharing the same Fiscal Year, add them to the list.
5️⃣ Save and Submit to activate the Fiscal Year.

🔄 Auto-Creation of New Fiscal Year

VinAR-ERP automates the process of creating a new Fiscal Year:

✔ Three days before the current Fiscal Year ends, the system checks if the next year's Fiscal Year exists.
✔ If not, VinAR-ERP automatically creates it, ensuring seamless financial operations.

🚀 Key Takeaways

✔ A Fiscal Year defines the financial reporting period for a business.
✔ It can align with the calendar year or start at a different time based on business needs.
✔ New Fiscal Years should be created every year to ensure smooth financial reporting.
✔ VinAR-ERP automates Fiscal Year creation, making accounting easier and error-free.

By setting up a Fiscal Year properly, you ensure accurate financial tracking, tax compliance, and business planning! 📊✅