276.1 Introduction
In this AFO you can create fiscal year codes. The following is important to know:
· Budgets are linked to a fiscal year.
· The fiscal year can be different from a calendar year.
· At the end of the fiscal year, budgets, orders, invoices, etc. need to be closed and a new fiscal year begins.
· When a new budget is created it displays the fiscal year defined as the default.
· Several codes can be defined. There can be several Previous years, but only one Current and one Next year.
· Before you run year end you must create a Next fiscal year. Then regenerating budgets will allow you to attach them to the next year.
· You cannot edit a fiscal year code once it is in use.
276.2 Fiscal year codes
A fiscal year code is set up in AFO 276 Fiscal Year Control. his contains a start and end date for the fiscal year. This need not be a complete year, but a start date cannot overlap with any other fiscal year code, although fiscal years must run continuously.
After choosing this option an overview screen will be displayed with codes already defined:
Columns on the screen
Start date and end date: every code must have a start date as well as an end date
Status: possible values are Next, Current and Previous. These statuses are assigned by the system.
Options on the screen
: Only the last fiscal year added can be amended. The only field you can change is the end date of the Last fiscal year, and only if it is not yet in use (no funds assigned).
: This icon is used to set the code for the current year. A code with the status of Current becomes the Previous and a code with the status of Previous becomes Current.
: After choosing this option the following form will be displayed:
Fields on the screen
Code: Enter a code.
Start date: By default the system sets the start date to the last date of the previous year + 1 day. You cannot change this
End date: This must be later than the start date but need not be 365 days after.
Note
You can only create a new code if there are no definitions for the next year. If a year has been defined for next year you will get the message:
