David Tran Getting Started Hits: 158

In most cases, the fiscal years last 12 months. If it is your case, you just have to define what is the last day of your fiscal year in the accounting settings. By default, it is set on the 31st December.

media/fiscal_year01.png

However, there might be some exceptions. For example, if it is the first fiscal year of your business, it could last more or less than 12 months. In this case, some additional configuration is required.

Go in :menuselection:`accounting --> configuration --> settings` and activate the fiscal years.

media/fiscal_year02.png

You can then configure your fiscal years in :menuselection:`accounting --> configuration --> fiscal years`.

media/fiscal_year03.png

Note

You only have to create fiscal years if they last more or less than 12 months.