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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 fiscal year with specified periods for your firm, client, or contact.
  • Edit the fiscal year (the default end date is 31 December, but you can change this).
    note
    If you access this screen from the
    Settings
     tab in Onvio Trial Balance, you can edit multiple fiscal years at the same time.
  • Edit accounting periods, including the period frequency.
  • Set the current period.

Period frequency options

  • Annual
    : end date is the fiscal year end date.
  • Monthly
     (12 periods): end dates increment by 1-month intervals.
  • Quarterly
     (4 periods): end dates increment by 3-month intervals.
  • Semi-Annual
     (2 periods): end dates increment by 6-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
  • The year that you choose as the
    Tax Year
     in Onvio Trial Balance determines the year for the tax groupings schedule on the project's
    Groupings
     tab.
  • Only trial balance data uses the period dates on the
    Accounting
     tab (accounts and balances). Project setup uses the
    Fiscal year
     to calculate the due date.
  • Onvio determines the default dates based on the current fiscal year end date and the specified period frequency.
  • Duplicate fiscal year end dates are not allowed in the same project.
  • Fiscal year end dates need to be sequential with no skipped years.
  • Period dates need to be sequential with no skipped dates.
  • If you choose a monthly, quarterly, or semi-annual period frequency and the current fiscal 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
  • Subject: Setup
  • Audiences: Staff