Adding a financial year
Procedure
1. Go to Supporting data > Financial years.
2. On the action panel, click Add.
3. In the data panel, complete the relevant fields.
For a description of these fields, refer to Financial year fields.
4. Click Save.
A new financial year has been added.
The following actions are available for a financial year:
• Generate journal entries for contracts – This action is run as a background action (see ) and generates - per contract line - all required journal entries and corresponding postings for the selected financial year. If there is too much data to process in one run for a specific financial year, you must repeat the Generate journal entries for contracts action until all journal entries are generated. Once all contracts have been processed, Planon automatically switches the setting Journal entries generated for contract lines to Yes and the Generate journal entries for contracts action is no longer available.
The setting Update budgets on basis of budget definition in FieldDefiner > Contracts > Business object settings should be set to Yes.• Adopt recurring budgets - Selecting this option will enable you to adopt the budgets of a particular financial year.
• Close all budgets of financial year - Selecting this option will close all the budgets related to the selected financial year.
For more information, see Budgets .• Closed status transition - Enables you to close the selected financial year. A financial year can only be closed if all budgets linked to it have been closed too. If you want to close the budgets linked to a particular financial year in one go, you can select Close all budgets of financial year.