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 are applied to the corresponding accounting period.
- Basic rules
- Length of the first accounting period
- First accounting period and pre-registrations
- Statuses associated with an accounting period
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Basic rules
Accounting periods follow these core principles:
- Length: An accounting period typically spans 12 months, usually aligned with the calendar year, though exceptions exist. Example: a sports club whose memberships follow the academic year may close its period on August 31. Additionally, a first accounting period may exceptionally be shorter or longer than 12 months.
- Continuity: Even during months with no activity, accounting periods must remain continuous. As soon as one period closes, a new one opens automatically.
As long as the accounting period hasn't been closed, entries are fairly flexible across periods:
- An entry's date can be changed, which will reassign it to a different accounting period;
- However, every entry must always be assigned to an accounting period.
You cannot delete an accounting period while entries are still assigned to it — those entries would otherwise be left "orphaned." You must first edit or delete the entries, then delete the period.
Length of the first accounting period
If your organization was recently created, the following rules apply:
- Maximum length: A first accounting period cannot exceed 24 months;
- Minimum length: The minimum length in Springly is 2 days, to distinguish the start date from the end date. If your activity begins on January 1, the period must close no earlier than January 2. Beyond that, there are no restrictions — if you start on November 30, for example, you can close the period on December 31 of the same year.
First accounting period and pre-registrations
When you open a pre-registration — for example through a Membership Campaign — the date on which the member signs up also determines the entry date.
The accounting period's start and end dates must therefore cover the entire pre-registration window. If needed, extend your period to push the start date back earlier.
If the sign-up date does not fall within any accounting period, no entry will be created in the books.
Example: your first accounting period is set to start on September 1, but pre-registrations open on July 1. To ensure entries are assigned to a period, you move the period's start date to July 1 while keeping the closing date at August 31 of the following year.
Statuses associated with an accounting period
Depending on the current date, the software will display one of the following statuses in the "Open Periods" section:
- In progress: the period's end date has not yet passed, or a previous period with a "Late closing" status has not been closed;
- Ended: the period's end date has passed, but the closing has not been completed. A "Late closing" warning message appears to remind you to close the period;
- Upcoming: the accounting period has been created but its start date has not yet been reached. Example: if today is 12/20/2024, a period starting on 01/01/2025 will show a status of "Upcoming" — even if you have already entered entries for that period.
In the "Closed Periods" section, you'll find all past accounting periods that have been formally closed.
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