Activating / Inactivating calendar
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This page allows you to activate or inactivate a financial / tax year or financial / tax period. Tell me more.
Select the “Activate / Inactivate Financial Calendar” link under the “Accounting Setup” business component.
The “Activate / Inactivate Financial Calendar” page appears.
The system displays the following:
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Company Name |
The name of the company. |
Enter the following fields in the “Financial Year Details” group box:
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Effective From date |
The date from which the financial calendar becomes “Active” or “Inactive” (Date Format). The system date is displayed by default on launch of the page. |
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Year |
Use the drop-down list box to select whether you want to activate or inactivate a “Financial Calendar” or a “Tax Calendar”. The system displays “Financial Calendar” by default on launch of the page. |
Note: If “Financial Calendar” is selected, all the financial years that have been defined for the login company will be available for selection in the “Financial / Tax Year Code” field.
If “Tax Calendar” is selected, all the tax years that have been defined for the login company will be available for selection in the “Financial / Tax Year Code” field.
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Financial / Tax Year Code |
Use the drop-down list box to select the code identifying the financial year of the tax year that you want to activate or inactivate. All the financial years / tax years that have been defined for the login company will be available for selection in the chronological order. The system displays “Blank” by default at the launch of the page. |
The system displays the following:
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Description |
The textual description of the financial / tax year. |
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Zoom facility available | |
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Status |
The status of the financial / tax year. It could be “Active” or “Inactive”. |
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Start Date |
The date on which the financial / tax year begins. |
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End Date |
The date on which the financial / tax year ends. |
The system displays the following in the “Financial Period Details” multiline:
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Financial Period Code |
The code identifying the financial period. |
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Description |
The textual description of the financial period. |
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Start Date |
The date on which the financial period begins. |
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End Date |
The date on which the financial period ends. |
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Period Status |
The status of the financial period. It could be “Active” or “Inactive”. |
Check the box in the “Select” column of the multiline to mark a financial / tax period for activation or inactivation
Note: You can activate a financial / tax year or financial / tax period that are in the “Inactive” status, again.
Click the “Activate” pushbutton to activate the year / period.
The status of the financial / tax year / period is updated as “Active”.
Note: You can inactivate a financial / tax year or financial / tax period that are in the “Active” status.
Click the “Inactivate” pushbutton to inactivate the year.
The status of the financial / tax year / period is updated as “Inactive”.
The system displays the following:
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Created By |
The login ID of the user who has created the financial / tax year. |
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Created Date |
The date on which the financial / tax year was created. |
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Last Modified By |
The login ID of the user who has last modified the financial / tax year. |
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Last Modified Date |
The date on which the financial / tax year was last modified. |
To proceed, carry out the following
Select the "Attach Notes" link at the bottom of the page to record your observations.
You can activate a financial year that is in the “Inactive” status. The financial year is activated if there is no other year in the same time period. The financial periods defined for the reactivate financial year is also activated automatically.
Set the “Year” field to “Financial Year”.
Select the financial year in the “Financial / Tax Year Code” field.
Click the “Activate” pushbutton.
The status of the financial year is updated as “Active”.
You can inactivate a financial year that is in the “Active” status. The financial year is inactivated. All the financial periods that have been defined for the inactivated financial year is also inactivated.
Set the “Year” field to “Financial Year”.
Select the financial year in the “Financial / Tax Year Code” field.
Click the “Inactivate” pushbutton.
The status of the financial year is updated as “Inactive”.
You can select a financial period in a particular financial year and activate it again. The status of the financial period must be in “Inactive” status. The status of the financial year must also be in an “Active” status.
Set the “Year” field to “Financial Year”.
Select the financial year in the “Financial / Tax Year Code” field.
Mark the financial period that you want to activate.
Click the “Activate” pushbutton.
The status of the financial period is updated as “Active”.
You can select a financial period in a particular financial year and inactivate it. You can inactivate a financial period that is in the “Active” status. The financial year must also be in an “Active” status.
Set the “Year” field to “Financial Year”.
Select the financial year in the “Financial / Tax Year Code” field.
Mark the financial period that you want to inactivate.
Click the “Inactivate” pushbutton.
The status of the financial period is updated as “Inactive”.
You can activate a tax year that is in the “Inactive” status. The tax year is activated if there is no other year in the same time period.
Set the “Year” field to “Tax Year”.
Select the tax year in the “Financial / Tax Year Code” field.
Click the “Activate” pushbutton.
The status of the tax year is updated as “Active”.
You can inactivate a tax year that is in the “Active” status. The tax year is inactivated. All the tax periods that have been defined for the inactivated tax year will also be inactivated
Set the “Year” field to “Tax Year”.
Select the tax year in the “Financial / Tax Year Code” field.
Click the “Inactivate” pushbutton.
The status of the tax year is updated as “Inactive”.
You can select a tax period in a particular tax year and activate it. The status of the tax period must be in “Inactive” status. The status of the tax year must be in “Active” status.
Set the “Year” field to “Tax Year”.
Select the tax year in the “Financial / Tax Year Code” field.
Mark the tax period that you want to activate.
Click the “Activate” pushbutton.
The status of the tax period is updated as “Active”.
You can select a tax period in a particular tax year and inactivate it. You can inactivate a tax period that is in the “Active” status. The status of the corresponding tax year must be “Active”.
Set the “Year” field to “Tax Year”.
Select the tax year in the “Financial / Tax Year Code” field.
Mark the tax period that you want to inactivate.
Click the “Inactivate” pushbutton.
The status of the tax period is updated as “Inactive”.