Periods overview
Find period settings
Go to the Periods tab for firms
Select Setup, Firm Settings, then the Periods tab.
Go to the Periods tab for clients and contacts
- Select Setup, then All Contacts or Clients.
- Select Edit next to their name, then the Periods tab.
Actions you can take on the Periods tab
- Add a fiscal year with specified periods for your firm, client, or contact.
- Edit the fiscal year (the default end date is 31 December, but you can change this).
Note: If you access this screen from the Settings tab in Onvio Trial Balance, you can edit multiple fiscal years at the same time.
- Edit accounting periods, including the period frequency.
- Set the current period.
Period frequency options
- Annual: end date is the fiscal year end date.
- Monthly (12 periods): end dates increment by one-month intervals .
- Quarterly (4 periods): end dates increment by three-month intervals .
- Semi-Annual (2 periods): end dates increment by six-month intervals.
- 13 period: end dates increment by 4-week (28 days) intervals.
- Weekly (52 periods): end dates increment by 1-week (7 days) intervals.
- Custom: end dates increment by the number of periods specified.
Notes
- The year that you choose as the Tax Year in Onvio Trial Balance determines the year for the tax groupings schedule on the project's Groupings tab.
- Only trial balance data uses the period dates on the Accounting tab (accounts and balances). Project setup uses the Fiscal year to calculate the due date.
- Onvio determines the default dates based on the current fiscal year end date and the specified period frequency.
- Duplicate fiscal year end dates are not allowed in the same project.
- Fiscal year end dates must be sequential with no skipped years.
- Period dates must be sequential with no skipped dates.
- If you choose a monthly, quarterly, or semi-annual period frequency and the current fiscal year end date falls on a calendar month end, then the period end date will be the calendar month end. If not, the period end date will be on the same date for each period.
- If you choose a weekly or 13-period frequency, the period end dates are determined by using 7-day weeks, whether or not the current period end date falls on a calendar month end.
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