Financial Year

Screen Overview:

This is the very first and most important definition screen of the System. The System would perform its transactions in the Financial Year As defined here. The user has the facility to Active/Inactive & Open/Close a Financial Year. The Transactions would be made in the ‘Active’ and ‘Open’ Financial Year.


  • Here user would define the Financial Years of the System.
  • By Default, the system would show the current Active and Open Financial Year.
  • There could be only one Financial Year that can be ‘Active’ & ‘Open’.
  • An ‘Open’ year can be ‘Inactive’ in order to ‘Active’ another already opened Fiscal Year.
  • Once ‘Closed’, the Financial Year would be closed in all aspects. The data would be archived and the user can not perform transactions in the closed financial year.
  • The closed Financial Year can not be opened.
  • The user can also provide certain remarks for the Financial Year.
  • Short key for save is Alt+S, Alt+R for refreshing the screen and Alt+X for exiting the form.



The maximum length of Code filed is 3. This code is an auto-generated number. This code will differentiate the Financial Years.

Year Date

This is the year start date. Once defined, the start date can not be changed against the selected financial Year.

Year End

This is the year end date. Once defined, the end date can not be changed against the selected financial Year.


The Status could be ‘Active’ and ‘Inactive’. The transaction would be made in the ‘Active’ Financial Year. At a time, only one year can be ‘Active’. The ‘Inactive’ Year is not Closed but is temporarily inactivated for future transactional entries.


A Fiscal Year can be ‘Open’ or ‘Closed’. The ‘Open’ financial years can be ‘Active’ or ‘Inactive’. One the year is ‘Closed’, all the data would be archived for that Financial Year and it can not be opened again.


A user can input any remarks/notes/instructions related to the selected code for referencing.


Save button would save the new Financial Year or Edit any previous record in the database permanently.


Refresh button will refresh the entries of the form and will point to the new Code for the Financial Year to define.


Exit button is used to close the form.

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