By default the system will create the financial period based on the current year when you create the account.
You can edit and manage your financial periods from the Settings tab. You can then switch periods easily from your workspace.
Access
Go to Settings and click the Period End Dates panel.
Available features
From the Period End Dates section, you can:
Set the current period Start date and End date
Delete the current period
Start a new period - this will automatically create a new period chronologically after the last period
Add Prior period - you can add a period before the existing ones
Lock the dates -to stop anyone from editing up to the end of the period selected
Make sure to click Save to apply any change.
Switch periods
After you create your financial periods, you can switch the period at any time from the top-right corner in your account.
You need to select the correct period before you can add or edit your transactions for that period.