Fiscal Years
Use this function to manage the status of fiscal years, by company, for the company's different types of manual ledgers. Prior to any accounting operations, the accounting fiscal years must be created and opened.
The start date of the first fiscal year of the different ledgers is determined at the level of the Company record.
It cannot be earlier than the start date of the first fiscal year defined upon creating the folder. The default end date is 12 months later but it can be directly modified in the fiscal year management function.
Upon creating a default legal company, two fiscal years are created for each manual ledger type of the company model.
Prerequisites
Refer to documentation Implementation
Screen management
Entry screen
Presentation
The fiscal year management is carried out manually ledger type by ledger type.
The fiscal years of a company and of a ledger type take the form of a grid where each line represents a fiscal year.
The first stage consists in selecting the company and the ledger type from the Selection panel for which it is necessary to create or open a new fiscal year.
It is possible to manage the following operations:
Creating a new fiscal year
Creating one or several new fiscal years is carried out via the Fiscal year button. From the displayed screen, it is suggested to create one or several fiscal years for the current ledger type, or for other types of manual ledgers of the company.
Only the ledger types with the same start date are suggested for creation. By default, a fiscal year is created as Not open. It must be set to Open before entering any documents.
Each fiscal year of the current ledger type can be named with a long title and a short title.
Opening a fiscal year
The fiscal year grid features a Status column where each fiscal year is indicated as Open, Not open, or Closed.
In the grid, you can open one or several fiscal years for the current ledger and for other company ledgers if they have the same date range.
Complying with French fiscal rules
Companies subject to French legislation cannot open more than two fiscal years at the same time to comply with French tax rules. The connection date to the folder determines the "current" fiscal year: The one that contains this date. Once this current fiscal year is determined, Sage X3 checks that, at most, the following fiscal years are open:
- Current fiscal year + next fiscal year
- Current fiscal year + previous fiscal year
See the How to guide "DGI/IFRS Compliance."
This rule applies to the general and IAS main ledgers of the company.
To comply with French certification, a control has been added in this function to prevent a company, whose FRADGI - French fiscal regulation parameter (TC chapter, CPT group) is set to Yes, from creating a fiscal year longer than 23 months.
Fiscal year closing
You cannot directly close a fiscal year of a ledger type in this function. To close a fiscal year, each ledger type period constituting the fiscal year must be closed too. Therefore, the fiscal year closing is carried out by a specific function at the fiscal year end.
Refer to the documentation for the period closing and the fiscal year end.
Close
Fields
The following fields are present on this tab :
Block number 1
| Select the company of the manual ledger type whose FY are to display. |
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Grid Details
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| Enter the number of the fiscal year for the company and the ledger type. This number is automatically assigned when creating a new fiscal year. |
| This field is used to link a description and its record.
The description used by default in the print-outs is replaced by the short description depending on space available. |
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| The FY start date cannot be directly modified.
The FY end date can be modified on the last FY and on all non-open FYs; the start dates of the next FYs are automatically updated. In order to modify the number and duration of the periods of a FY, it is necessary to use function Periods. |
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| This field displays the fiscal year status:
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| This field is used to indicate the effective date to which the period or the FY have been closed. |
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Action icon
Specific Buttons
Error messages
In addition to the generic error messages, the following messages can appear during the entry :
Period from ... to ... is open
It is not possible to modify a fiscal year date once a period of the next fiscal year is open.
No more than one fiscal year prior to or later than the current fiscal year
For companies subject to French legislation and companies subject to non-French legislation who chose in favor of the DGI compliance, it is prohibited to have more than two fiscal years open at the same time. The date of connection to the folder determines a "current" fiscal year: The one that contains this date. Once this current fiscal year is determined, Sage X3 checks that, at most, the following fiscal years are open:
- Current fiscal year + next fiscal year
- Current fiscal year + previous fiscal year
This rule applies to the general and IAS main ledgers of the company.
Incorrect date: MM/DD/YYYY - MM/DD/YYYY > 23 months
For a company subject to French legislation, this message displays when the fiscal year start and end dates span more than 23 months. For these companies, a fiscal year longer than 23 months is prohibited.