Your tax periods can be set up according to your preferences.
To set up tax accounting periods:
- Go to Setup
- Navigate to Accounting
- Click Manage Tax Periods
- Click Set Up Full Year button if wanting to set up the whole tax year
You can now choose your options for your tax year set up and Save when finished.
These options include:
- First fiscal month (when you want the tax period to start)
- Fiscal year end (year in which the period you’re setting up will end)
- Period format (your format for accounting periods, such as quarters, months, etc)
- Year in Period Name (whether naming is based on the year start or year end)
