An accounting period is the period for which an accounting entity prepares its financial statements. An accounting period usually lasts one year (that is, 12 consecutive calendar months). Only in exceptional cases can it be shorter (for example, when the accounting entity ceases to exist) or longer (this can happen when changing the accounting period from a calendar year to a business year, also known as a fiscal year).
​

Accounting periods are continuous in time, i.e., each accounting period must directly follow the previous one. The accounting period code can be used as a prefix or postfix in document number series, where the number serves as the variable symbol.

The following types of accounting period apply:

A calendar accounting period is identical to the calendar year (it starts on January 1 and ends on December 31). A fiscal accounting period does not always have to start on January 1 and has a fixed length of 12 months.

When you create a new company, a default accounting period is created automatically, matching the current calendar year. In this list, you can edit this accounting period or create a new one.

For companies that keep their accounts in a business (fiscal) year that does not match the calendar year, the accounting period 2025, for example, is defined by the dates from 1. 7. 2025 to 30. 6. 2026.

The selected accounting period is displayed in the header of the side navigation. It defines the time interval in which you can work in the system, i.e., create accounting documents, edit them, and perform accounting closings. For this purpose, the posting date on the document in the "Posting and VAT line" tab is the deciding factor. This is the calendar date on which documents enter the accounting records.

A separate dialog is used to switch between accounting periods

where you can select the required accounting period from the drop-down list. This "Accounting period" dialog can be opened in several ways:

If you have the accounting period 2025 selected, documents are created in the accounting period 2025. If you try to create a document with a posting date of 31. 12. 2024 or earlier, or with a date of 1. 1. 2026 or later, an error message will be displayed:
​

and the document cannot be saved to the accounting period 2025. You must change either the posting date or the accounting period.
​

Outside the selected accounting period, you can only view documents. To do so, you must set the value "Year unrestricted" in the filter bar in the left-hand window.

Most code lists that are linked to the accounting period, such as the chart of accounts, VAT line, cost centers, projects, and so on, have the "Valid from" and "Valid to" fields in the "Administration" tab. These are linked to the values specified in the "Accounting period" dialog and define the validity (visibility) of a given record in the accounting period. By default, these fields are set to "Valid from 0" and "Valid to 9999". In that case, the records are displayed without any restriction.

For example, you can invalidate a cost center for the accounting period 2025 by entering "Valid from 0" and "Valid to 2024" in the "Administration" tab. If you open the accounting records in the period 2025, the cost center will not be visible in the cost centers code list.

If you want to switch to a new accounting period in which you have not worked yet, you must first create it, i.e., add a new row with the new year to the table. The system itself monitors the time validity of individual accounting periods based on the "Valid from date" and "Valid to date" values.

Updating the "Accounting period" code list is permitted for the administrator and persons authorized by the administrator.

Click the New button to open the form for a new record

where the values for the new accounting period, which will follow the previous one, are set automatically.
​

For example, if we have the accounting period 2025 that corresponds to the calendar year, it is defined by the dates from 1.1.2025 to 31.12.2025. The new accounting period is automatically set to 2026 and will be defined by the dates from 1.1.2026 to 31.12.2026.
​

If the accounting period 2025 is a business year defined by the dates from 1.6.2025 to 31.5.2026, the new accounting period is automatically set to 2026 and will be defined by the dates from 1.6.2026 to 31.5.2027.

If you have created stock cards, i.e., if you work with inventory, after creating a new accounting period you must run the "Initialize next accounting period" option in the "Accounting" module so that you can continue working with inventory.

The top bar of the card contains a number of buttons whose meaning is described in the separate chapter "Controlling the program".

The "Abbreviation" field can contain up to 20 characters. It identifies the year representing the accounting period. Default value: YYYY based on the current year. If you have a business year, you can set the abbreviation to, for example, 2025/2026. When a new accounting period is created, the abbreviation is not set automatically in this format, so you will have to correct it manually again.

The value of this field is limited to four characters. It contains a value – usually the year – from which the internal document number is generated. In the settings of the relevant document series, there is a postfix that can have the form /%YYYY%, where the value from this field is substituted for YYYY. More detailed information can be found in the chapter Document series.

Default values:

The start of the accounting period's validity; the start date must be the first day of a month, and if the accounting period is identical to the calendar year, it is set by default to 01.01.YYYY,

The end of the accounting period's validity; the end date must be the last day of a month, and if the accounting period is identical to the calendar year, it is set by default to 31.12.YYYY,
​

The "Texts" tab is included in all code lists and all lists. It contains two fields where you can enter information according to your own needs. Filling them in is optional.

A more detailed description of the accounting period.

An additional note about the given accounting period.
​

Save the newly added accounting period by clicking Save and close.

A period can be locked in the menu Company - Period locking.