In some cases, a condominium’s fiscal year may differ from the calendar year (january to december).
At any point, it may become necessary to adjust and align the fiscal year with the calendar year.
This is possible in GC. Just follow the steps below:
1. Process quotas for the current and next year
Before changing the fiscal year:
- Process quotas for both the current year and the following year
- This ensures there are quotas issued until the end of the year
2. Cancel next year’s documents
- Go to
Accounting > Accounting Documents - Filter by Journal Q and select the date range for the next year
- Select the documents and click Delete
- Keep the documents from the current year
3. Undo the year-end closing (if applicable)
If a year-end closing has already been done for the current year:
- Go to
Accounting > Year-End Closing > Undo Closing - The closing will need to be redone at the end of the year or beginning of the next
4. Change the fiscal year
- Open the condominium record
- Update the Fiscal Year field to january to december
⚠ Some accounting reports may not show accurate data during the transition year.
Reports will realign in the following fiscal year.
Optional: Reprocess historical data
If you wish to align all accounting history:
- Undo all previous closings
- Redo the year-end closings as if the fiscal year had always been january to december