Setup

Periods overview

Find period settings

Go to the Periods tab for firms
Select
Setup
,
Firm Settings
, then the
Periods
 tab.
Go to the Periods tab for clients and contacts
  1. Select
    Setup
    , then
    All Contacts
     or
    Clients
    .
  2. Select
    Edit
     next to their name, then the
    Periods
     tab.

Actions you can take on the Periods tab

  • Add a financial year with specified periods for your firm, client, or contact.
  • Edit the financial year (the default end date is 31 December, but you can change this).
  • Edit accounting periods, including the period frequency.
  • Set the current period.

Period frequency options

  • Annual
    : end date is the financial year end date.
  • Monthly
     (12 periods): end dates increment by one-month intervals .
  • Quarterly
     (4 periods): end dates increment by three-month intervals .
  • Semi-Annual
     (2 periods): end dates increment by six-month intervals.
  • 13 period
    : end dates increment by 4-week (28 days) intervals.
  • Weekly
     (52 periods): end dates increment by 1-week (7 days) intervals.
  • Custom
    : end dates increment by the number of periods specified.
note
  • Only trial balance data uses the period dates on the Accounting tab (accounts and balances). Project setup uses the financial year to calculate the due date.
  • Onvio determines the default dates based on the current financial year end date and the specified period frequency.
  • Duplicate financial year end dates are not allowed in the same project.
  • Financial year end dates must be sequential with no skipped years.
  • Period dates must be sequential with no skipped dates.
  • If you choose a monthly, quarterly, or semi-annual period frequency and the current financial year end date falls on a calendar month end, then the period end date will be the calendar month end. If not, the period end date will be on the same date for each period.
  • If you choose a weekly or 13-period frequency, the period end dates are determined by using 7-day weeks, whether or not the current period end date falls on a calendar month end.

This article applies to:

  • Product: Onvio
  • Audiences: Staff