Accounting years

Help Category: Accounts

Screen showing Uwazi database accounting years

This screen shows accounting years that exist in this Uwazi database.

What are accounting years?

Accounting uses periods of times to collect and organize transactions. These accounting periods are generally years. These periods can be open for new transactions, or can be closed off once finalized. Periods are finalized once you have filed/lodged taxes and prepared your final accounting reports for that period.

Uwazi supports as many accounting “years” as you need in your database. You generally don’t need to create new ones as Uwazi will create them as you enter transactions into the future. You will need to create one manually if you are changing the end date of your organization’s financial year. This is because Uwazi presumes that any new accounting year it creates will end 12 months after the previous one.

You can manually create a new accounting year by pressing the “Create new year” button. You can leave this screen by pressing the “Ok” button.