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.
Navigate to Settings / Accounting / Accounting Options.
Table of Contents
Fiscal Year
Use the Fiscal Year dropdown to select the date range that aligns with your company's fiscal year. A fiscal year is a twelve-month period used as the basis for financial reports, tax filings, and sales goals.
Display Options
Under Display Options, you can choose to Display GL Number before GL Account Name. When this option is enabled, GL (General Ledger) numbers appear at the beginning of GL account names wherever they are shown in the system.
Unlocking Orders
The Unlocking Orders section allows you to enable the ability to unlock and make changes to orders that are in Closed or Invoiced status.
a. Enable Unlocking of Closed Orders – When checked, users can unlock closed orders to edit them.
b. Enable Unlocking of Invoiced Orders – When checked, users can unlock invoiced orders to edit them.
Note: Enabling these options should be done with caution, as unlocking and editing closed or invoiced orders can affect reconciliation and reports.
Credit Memos
Credit Memos allow customers to track internal credit by documenting when the total amount owed to your company has decreased. Enable the Enable Credit Memos option to use credit memos in your system.
Finance Charges
Finance Charges can be enabled to show on orders in specific statuses. Use the checkboxes to choose when finance charges apply:
a. On Orders in Invoiced Status – Finance charges apply to orders that are in Invoiced status.
b. On Orders in Built and Invoicing Status – Finance charges apply to orders that are in Built or Invoicing status.
Note: Finance charges are based on the Payment Terms configured under Settings / Accounting / Payment Terms.
When you have finished making changes, click Save.