- Please create a new accounting period by going to Accounting->Accounting Periods->New Accounting Period.
- Enter the dates of the financial year (for example: 1st April 2014 and 31st March 2015).
- Upon creation of the accounting period, all the accounts / ledgers of last accounting period are automatically available in the new accounting period as well.
- The opening balances for all accounts in chart of accounts needs to be entered manually as and when the previous accounting period’s closing balances are ready.
- The individual flat level ledgers and vendor ledgers are NOT impacted with this in any way. So, any outstanding balances of flats and vendors will continue to reflect as usual.
