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How To Create Fiscal Years and Periods

How To Create Fiscal Years and Periods

Fiscal period reporting allows you to create fiscal period reporting filters, which align to your company’s financial reporting timelines.  Whether you are creating fiscal reports or filtering your lists based on fiscal periods, these filters will allow you to drill into your lists more easily.

The fiscal period reporting configuration requires the creation of a fiscal year with a fiscal period.  You can create fiscal years manually or import them from a connector.  You can create fiscal periods manually or they can be automatically generated.  Once you complete these configuration steps, the fiscal period reporting filters will be ready to use. 

How to Create a Fiscal Year 

To use fiscal period reporting, you must create at least one fiscal year.  You can create and view your fiscal years under Account Settings and Fiscal years configuration.

There are two options for creating fiscal years: 

  • Add a fiscal year manually Create a fiscal year manually to set values for the name, start date, and end date for your fiscal year, which align to your fiscal year.  You can manually add a fiscal year but to filter by it, you must create a fiscal period. 
  • Import fiscal years from a connector – You can import fiscal years from a connector, which are pre-set to your financial reporting cycles.  When you import these years and periods from the connector they are automatically added to your configuration. 

Add a Fiscal Year Manually

1. From the navigation bar, select the menu.  Then select Account settings and then select Fiscal periods.

2. Select Click here to add a fiscal year to create a new fiscal year. 

3. In the Name box, enter a name for the fiscal year.  Name the fiscal year according to your financial reporting timeline.

4. From the left navigation pane, select Settings.  Here you can enter a Start Date and End Date for the fiscal year.

5. Once you have entered a start and end date for the fiscal year, the creation is completed.  Next, add a fiscal period to this fiscal year.

Import Fiscal Years from a Connector

1. From the navigation bar, select the menu.  Then select Account settings and then select Fiscal years. 

2. Select Import fiscal years to configure the connector settings.

If you have already configured fiscal years, you will see the import icon, otherwise you will see Click here to import fiscal years from a connector.

3. Select your Connector and Company to view the fiscal years available for importing. 

4. Select the checkbox next to the fiscal years you want to import and then select Add to begin the import process. 

5. The import process is complete once the imported fiscal years appear in the fiscal year list. 

6. Once you have added the fiscal years and periods, you are ready to filter by fiscal period/year. 

How to Create a Fiscal Period 

Add at least one fiscal period to your fiscal year to use fiscal period reporting.  You can create fiscal periods manually or you can generate them automatically.  After you add a fiscal period, it will appear in the fiscal year list and be available within your lists as a filter option. 

  • Create a fiscal period manually-After creating a fiscal year, you can add periods to it manually in the Fiscal years configuration under Settings.  To set custom values for the name, start date, and end date of your fiscal periods, add a fiscal period manually.
  • Automatically generate fiscal periods -You can automatically add periods to your fiscal years using the fiscal period generator.  When you create fiscal periods using the generator, the tool will set the names, start dates, and end dates based on the generation method you select.

There are four creation methods available with the generator: 

  • Generate fiscal periods by week
  • Generate fiscal periods by 4 weeks
  • Generate fiscal periods by month
  • Generate fiscal periods by quarter 

Create a fiscal period manually

1. From the navigation bar, select the menu.  Then select Account settings and then select Fiscal years. 

2. Edit the existing fiscal year and then click Fiscal periods, in the navigation pane.  Select Click here to add a single fiscal period.

3. Enter a Name, Start Date, and End Dates for the fiscal period.  Then select Add

4. You can add more fiscal periods, if you need them by going through steps 1-2 to add them. 

5. Once you have added all your fiscal periods, you can filter by fiscal period/year. 

Automatically generate fiscal periods

1. From the navigation bar, select the menu in the upper left corner.  Then select Account settings and then select Fiscal years

2. Choose a fiscal year to edit by selecting the Edit icon.

If the fiscal year list does not have any fiscal years listed, create a fiscal year before continuing.

3. Select Fiscal periods in the navigation pane.  If there are any existing fiscal periods, select the Delete icon next to each one and confirm the deletion to remove them. 

4. Select Click here to generate a range of fiscal periods to begin the fiscal period generation process.

5. There are four methods for generating fiscal periods:

  • A period for each month
  • A period every 4 weeks
  • A period for each week
  • A period for each quarter
  • The Add a period for each month generation method will add twelve fiscal periods, one for each month.
  • The Add a period every 4 weeks generation method will add fourteen fiscal periods to the fiscal year.
  • The Add a period for each week generation method will add fifty-three periods to the fiscal year.
  • The Add a period for each quarter generation method will add four periods to the fiscal year, one for each quarter. 

6. Once you have selected a method, select Generate to start creating fiscal periods.  Once fiscal periods appear in the fiscal period list the setup is complete.  You are now ready to filter by fiscal period/year. 



Questions on creating fiscal years and periods? Email support at support@eonesolutions.com

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