The Accounting Options section lets you customize key financial settings for your company, including your Fiscal Year setup, how financial data is displayed, and the handling of Credit Memos and Finance Charges. These options help ensure your accounting processes align with your business needs and reporting requirements.
To begin, navigate to Settings / Accounting / Accounting Options.
a. Fiscal Year - This is where you can select the date range that aligns with your company's fiscal year. A fiscal year is a twelve month period of time. Financial reports, tax filings, and sales goals are all based off of this.
b. Display Options - Display Options allow you to include the GL Numbers at the beginning of your GL Account Names.
Note: This link will open Settings / Integrations in a new tab.
c. Unlocking Orders - Checking these boxes will let you unlock and make changes on Closed or Invoiced Orders.
Note: This should be done with caution as it can affect your reconciliation and reports.
d. Credit Memos - Credit Memos allow customers to track internal credit by documenting when the total owed to a seller has decreased.
e. Finance Charges - Finance Charges can be enabled to show on Orders that are in Built and Invoiced statuses.
Note: These charges are based on the Payment Terms set in Settings / Accounting / Payment Terms.
