The accounting period is one of the cornerstones of bookkeeping. It defines the date range the software uses to generate your accounts. Any entries recorded between the opening and closing dates will feed into the accounts for that period.
This article covers the following topics:
How to create an accounting period
Creating an accounting period is the first step when you start using the accounting features.
This period sets the reference range used to produce your annual accounts.
Once you've gotten started in the Accounting module and created your first period, you can view and create accounting periods from Settings > Accounting > Accounting Periods: Edit or view.
Click Add an accounting period.
A side panel opens where you enter a start date and an end date for your accounting period, then click Save.
You can work on multiple accounting periods at the same time, though we recommend keeping it to no more than two.
To maintain accounting continuity, the start date of a new period must be the day immediately following the closing date of the previous period. This start date is locked when you create a new period, but you can adjust it by changing the closing date of the previous period.
Also, you cannot create a new accounting period that predates a period with a closed status.
Entering previous accounting periods
If you managed accounting periods before using the software, here's how to handle the transition in Springly.
Setting up the opening balance
The recommended approach is to set up the opening balance to record the key account balances as of your last closing — in other words, the state of your books just before the current period began.
As a general rule, avoid re-entering periods that are already closed. Instead, simply enter the opening balance from Settings > Accounting > Opening Balance.
Entering entries from previous periods
If you need to go back to previous periods — whether closed or not — you can manually enter all the relevant entries. To do this, create the previous accounting period (as explained in this article), then record your book entries.
Example: in 2023, you want to record an entry in the 2022 accounting period. Simply enter the entry with a date in 2022. Keep in mind that your 2022 accounting period must be created and open in Springly for this to work.
You can also import entries in bulk. This is a paid service carried out by our team from an Excel file. Please contact our Support team to learn more.
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