Create Accounting Periods

Overview

Accounting Periods are required to post transactions and generate financial reports in GoldFinch.

The Create Accounting Periods function automatically creates 12 consecutive accounting periods based on your fiscal calendar.

Steps

1. Navigate to Company Setup.
2. Click Create Accounting Periods.
3. Follow the prompts and confirm the creation of 12 new Accounting Periods.

Recommendation

Run this process near the end of each fiscal year to create the accounting periods for the upcoming fiscal year.

First-Time Setup

If no Accounting Periods exist, GoldFinch will prompt you to enter the first date of your fiscal year.

For example, if:

• You plan to go live during 2026, and
• You want to post historical Trial Balance data beginning in 2024,

enter:

01/01/2024

GoldFinch will then create 12 Accounting Periods beginning on January 1, 2024.

The fiscal period numbering always starts with Period 01, regardless of the calendar month.

Examples:

Creating Additional Accounting Periods

If Accounting Periods already exist, GoldFinch automatically:

• Finds the most recent Accounting Period.
• Creates 12 additional Accounting Periods immediately following the last existing period.
• Calculates the Start Date and End Date for each new period automatically.

No additional information is required.

Fiscal Years That Do Not Start in January

Your fiscal year can begin in any month.

For example, if your fiscal year begins on July 1, enter:

07/01/YYYY

GoldFinch will create the following periods:

Although the period names always use the format YYYY-MM, the fiscal period number always begins with Period 01, regardless of the starting month of the fiscal year.

4-4-5 Accounting Periods

The Create Accounting Periods utility creates monthly Accounting Periods only.

GoldFinch does not support 4-4-5, 4-5-4, or 5-4-4 fiscal calendars out of the box. If your organization uses one of these fiscal calendars, please contact your GoldFinch consultant to discuss available customization options.