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Fiscal Years

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One of the most significant perquisites to start working on Soft1, once you have completed the installation process, is to select the proper Fiscal Year.

A Fiscal Year is always required:

  • either for a newly-established company
  • or for a company which simply proceeds to the next Fiscal Year and needs to carry out some tasks (e.g. Inventory Balances brought fwd etc).
Tip

Upon Login to Soft1, the selected date automatically suggests the Fiscal Year where you will work on. 



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At Soft1, there is a Default Company, already configured (including the latest Fiscal Years e.g. 2019, 2020) which allows you to start working promptly.

Whether you use the Default Company or create a new one login should be performed for the selected date. If otherwise, you need to create the Fiscal Year. In case it is required to enter/ import data regarding prior Fiscal Years (e.g. Stocktaking data etc.) then make sure to create successively all the required Fiscal Years, that is, first the 2018 Fiscal Year, then the 2019 Fiscal Year and so forth.

For each company, Fiscal Years are located at the respective Years tab. 

Soft1 supports up to 24 periods for each Fiscal Year. The Fiscal Year is usually a 12-month period (starting from 1/1 and ending on 31/12) and most rarely an over twelve-month fiscal year. 

On the following tabs, you will find detailed instructions about:

  1. how to create a new Fiscal Year for the Company you will be working on,
  2. the actions that should be taken for smooth transmission from the previous Fiscal Year to the next one and,
  3. some F.A.Qs or warning messages which can be displayed upon working in Soft1.


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