An accounting period is the period for which an accounting entity prepares its financial statements. An accounting 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 occur when changing the accounting period from a calendar year to a fiscal year).

Accounting periods are continuous in time, meaning each subsequent accounting period must directly follow the previous one. The accounting period code can be used as a prefix or suffix in number sequences for documents where the number serves as a variable symbol.

The following types of accounting periods apply:
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Calendar accounting period: corresponds to the calendar year (begins on January 1 and ends on December 31)
​Fiscal accounting period: does not necessarily begin on January 1 and has a defined length of 12 months.

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

You can create a new accounting period or modify an existing one via the menu Records - Codebooks - Accounting - Accounting Periods.

A new accounting period can be created by clicking the New button at the top. If you need to modify an existing accounting period, click the pencil icon.

A settings panel for the accounting period will then appear on the right:

Abbreviation - your name for the accounting period

Valid from date - set the start of the accounting period (for a fiscal year: January 1)

Valid to date - set the end of the accounting period (for a fiscal year: December 31)

Please note! Accounting periods must follow on from one another without gaps, and once a consecutive period has been entered, it can no longer be changed by the user!

Year code for series - the code that will appear on documents and outputs