Sync Fiscal Year

Edition
- Odoo Community
Version
- 15.0
- 14.0
- 13.0
- 12.0

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By using this module you will be able to manage your Accounting Fiscal Years

Edition: Odoo Community

App Description Page

Account Fiscal Year

A fiscal year (FY) is a period that a company or government uses for accounting purposes and preparing financial statements. A fiscal year may not be the same as a calendar year, and for tax purposes, the Internal Revenue Service (IRS) allows companies to be either calendar-year taxpayers or fiscal-year taxpayers.

Application helps accountant/account manager to manage fiscal years, fiscal year periods and generate opening and closing entries for fiscal year.

Key Features

Manage fiscal years and its periods.
Generating opening and closing entries for fiscal year.
Option to cancel opening entry.

Fiscal Year

For instance, Fiscal Year 2018 needs to be closed.

To define new fiscal year, go to Invoicing/Configuration/Periods/Fiscal Years

Periods can be defined in two formats: Monthly Periods and 3 Months Periods

For instance, to create monthly periods, click on Create Monthly Periods button.

Opening Entries Accounts

Define Income and Expense account for opening entries (if not created).

Opening Income Account

Opening Expense Account

Opening Entries Journal

To define Opening Entries Journal, go to Invoicing/Configuration/Accounting/Journal

Set previously created accounts in Default Debit Account and Default Credit Account

Generating Opening Entries

To generate Opening Entries, go to Invoicing/Periodic Processing/End of Period/Generate Opening Entries

Click on Create button to generate opening entries.

Generated opening entries

Click on Post button to Post this journal entry.

Cancel Fiscal Year Closing Entries

To cancel fiscal year closing entries, go to Invoicing/Periodic Processing/End of Period/Cancel Closing Entries

Enter Fiscal Year whose closing entries needs to be cancelled.
Click on Cancel Closing Entries button to cancel closing entries.

Once the closing entries are cancelled, you will no longer find opening entries for current fiscal year. To create opening entries for current fiscal year, you need to re-generate opening entries.

Close Fiscal Year

To close fiscal year, go to Invoicing/Periodic Processing/End of Period/Close a Fiscal Year

Enter Fiscal Year to close.
Click on Close Fiscal Year button to close it.

Close Period

To close a period, go to Invoicing/Periodic Processing/End of Period/Close Period

Click on Close Period button to close it.

Disclaimer

This application is compatible with Community Edition.

Notes:

All the apps are to be purchased separately, for individual versions and individual edition.

One month free bug support period will be offered pertaining to any one server used, testing or live.

Synconics is only responsible for providing the module zip file on your registered email, purchased from our app store or directly through our company.

Synconics is not responsible for installation or updating of the module on any of your server.

If an error appears in our app due to other custom modules installed in your system or if Odoo base source code is not updated on your system, to make it compatible with your source code, we'll charge you for our efforts to resolve those errors and make the module compatible with your source code.

Please refer the document for configuration. If any support is needed for module configuration, installation, updating or any help is needed, it will be considered in paid support.

Please note that you are not allowed to distribute or resell this module after purchase.

This module is tested and working on Odoo vanilla with Ubuntu OS.

Support services will be provided from Monday to Friday, 10:30 AM to 7:30 PM IST (Indian Standard Time).

Support will not be provided during Indian public holidays or company holidays.