The accounting calendar can be accessed from Utilities – Routines - Accounting Setup – Update Accounting Calendar or Select Current Periods.

The accounting calendar has 14 periods. Period 0 is for prior years, periods 1-12 are for the 12 periods in your current fiscal year, and period 13 is for future years.

The From and Through dates show the valid transaction dates for each period. Period 0 can have any From date but should have a Through date of the final day of the prior fiscal year. Periods 1-12 should have From and Through dates for each month of the fiscal year. Period 13 should have a From date of the first day of the next fiscal year. The Through date can be any date after the From date.

The Current Period Selections group is where you set the valid period for each of the listed modules. In the example above each module, except for Journal Entries, is set to July. Looking at the accounting calendar, on the left of the window, July is assigned to period 3. The valid transaction dates assigned to period 3 are 7/1/11 through 7/31/11. This means that transactions entered must fall between 7/1/11 and 7/31/11.

The modules do not all have to be set to the same period. If the Dues module was set to June, period 2, then any dues transactions entered would have to have a transaction date of 6/1/11 through 6/30/11. While transactions in other modules would only accept transaction dates from 7/1/11 through 7/31/11.

At the end of the fiscal year you would keep the accounting calendar in the same Accounting Year and just move the modules, excluding Journal Entries, to period 13. Make sure that the period 13 Through date is far enough in the future to cover the period of time it will take to close the year.

Initially it can be set to the end of the month for period 1 of the new fiscal year. If by the time you get to period 2 in the new fiscal year you still have not closed the prior year just update the Through date on period 13.

Once you have closed the prior year move the accounting calendar forward. This is done by clicking the Add one year to current calendar button. The Accounting Year will be incremented. All of the From and Through dates will be moved forward one year. Then make sure that the modules in the Current Period Selections group are set to the correct month for each module.