A fiscal period is the period for which an accounting entity prepares its financial statements. A fiscal period typically lasts one year (i.e., 12 consecutive calendar months). Only in exceptional cases can it be shorter (for example, upon the dissolution of an accounting entity) or longer (this situation may arise when changing the fiscal period from a calendar year to a fiscal or business year).
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Fiscal periods are continuous in time, meaning each subsequent period must immediately follow the previous one. The fiscal period code can be used as a prefix or suffix in document number series, where the number serves as a variable symbol.

The following types of fiscal periods apply:

A calendar fiscal period coincides with the calendar year (starts on January 1 and ends on December 31). A fiscal (business) year does not have to start on January 1 and has a defined length of 12 months.

When creating a new company, a default fiscal period is automatically created that corresponds to the current calendar year. In this list, you can edit the existing fiscal period or create a new one.

For companies using a fiscal (business) year that does not coincide with the calendar year, fiscal period 2025, for example, would be defined as July 1, 2025 to June 30, 2026.

The selected fiscal period is displayed in the sidebar navigation header. It defines the time interval within which you can work in the system — i.e., create accounting documents, edit them, and perform financial closings. For this purpose, the posting date on the document in the "Posting and VAT Line" tab is the determining factor. This is the calendar date by which documents are entered into the accounting records.

A dedicated dialog is used to switch between fiscal periods.

where you can select the desired fiscal period from the drop-down list. This "Fiscal Period" dialog can be opened in several ways:

If you have fiscal period 2025 selected, documents are created within fiscal period 2025. If you attempt to create a document with a posting date of December 31, 2024 or earlier, or January 1, 2026 or later, the following error message will be displayed:
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and the document cannot be saved in fiscal period 2025. You must either change the posting date or switch to a different fiscal period.
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Outside the selected fiscal period, you can only view documents. To do so, you must set the value "Year unrestricted" in the filter bar in the left panel.

Most code lists that are tied to a fiscal period — such as the chart of accounts, VAT lines, cost centers, projects, etc. — have "Valid from" and "Valid to" fields in the "Administration" tab. These fields are linked to the values defined in the "Fiscal Period" dialog and determine the validity (visibility) of a given record within a fiscal period. By default, these fields are set to "Valid from 0" and "Valid to 9999", meaning the records are displayed without any restrictions.

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

If you want to move to a new fiscal period that you have not previously worked in, you must first create that period — i.e., add a new row to the table with the new year. The system automatically monitors the time validity of individual fiscal periods based on the "Valid from date" and "Valid to date" values.

Updates to the "Fiscal Period" code list are permitted for the administrator and authorized users.

Clicking the New button opens the form for a new record.

The values for the new fiscal period will be set automatically to follow on from the previous one.
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For example, if fiscal period 2025 corresponds to the calendar year, it is defined as January 1, 2025 to December 31, 2025. The new fiscal period will automatically be set to 2026, defined as January 1, 2026 to December 31, 2026.
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If fiscal period 2025 is a business (fiscal) year defined as June 1, 2025 to May 31, 2026, then the new fiscal period will automatically be set to 2026, defined as June 1, 2026 to May 31, 2027.

If you have inventory cards set up — i.e., if you work with stock management — you must run the "Initialize next fiscal period" option in the "Accounting" module after creating the new fiscal period in order to continue working with inventory.

The toolbar at the top of the record contains a number of buttons whose functions are described in the separate chapter "Program Controls".

The "Abbreviation" field can contain up to 20 characters. It identifies the year representing the fiscal period. Default value: YYYY based on the current year. If you use a business year, you can set a custom abbreviation such as 2025/2026. When creating a new fiscal period, the abbreviation in this format will not be set automatically — you will need to enter it manually again.

The value of this field is limited to four characters. It contains a value — typically a year — used to form the internal document number. In the settings of the relevant document number series, a postfix can be defined in the format /%YYYY%, where the YYYY value is substituted with the value from this field. More detailed information is available in the Document Number Series chapter.

Default values:

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

The end of the fiscal period's validity; the end date must be the last day of a month, and if the fiscal period corresponds to the calendar year, it is set by default to 31.12.YYYY.
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The "Notes" tab is included in all code lists and all registers. It contains two fields that you can fill in according to your own needs. Completing them is optional.

A more detailed description of the fiscal period.

An additional note for the given fiscal period.
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Save the newly added fiscal period by clicking the Save and Close button.

A period can be locked via the Company - Lock Period menu.