Fiscal Year

The Fiscal Year setting is applied to your projects. You can set the year to begin on any month of the year. You can also indicate if the year is based on the first or last month of the year.

Example: Choosing any day during June 2020 would be included in Fiscal Year 2020 if Ending Month of June was selected. Alternatively, any day during July 201 would fall in Fiscal Year 2021 if Starting Month of July was selected.

Fiscal Year settings

When you complete your transactions and controls in the Cost module, they will be based on the fiscal year set up in this module.

To setup the fiscal year

  1. Click Setup.
  2. In the Administration Tools menu, expand Settings and click Fiscal Year. The Setup Fiscal Year page is displayed.
  3. In the Fiscal Year Start Month field, select the starting month of your fiscal year.

    If your fiscal year is based on the ending month of the year, click the The ending month radio button. If your fiscal year is based on the starting month of the year, click that radio button.

  4. Click Save. The fiscal year is now set up.