| Year-Ending Date For Current Fiscal Year | The date the current fiscal year is closed.
Example: If your company’s fiscal year is the calendar year, enter 12/31/xx. If your fiscal year ends in May, enter 5/31/xx. |
| Number Of Accounting Periods in Fiscal Year | The number of accounting periods in your fiscal year.
Example: Each accounting period is a calendar month, enter 12. Each accounting period is a 4-week period, enter 13. Each accounting period is a calendar month, but you enter adjustments into a separate period, enter 13. |
| Current Accounting Period in Fiscal Year | Displays the current accounting period in your fiscal year according to the Ledger. |
| Accrual Or Cash Based Accounting | Accrual, is the only accounting method available. Using the accrual method recognizes revenue when you invoice the customer. (Default)
Cash, (not selectable) Using the cash method recognizes revenue when you receive payment from the customer. |
| Inventory, Orders, Receivable, Purchases, Payable, Payroll creates Ledger Journal Entries | Yes, for each module that you want to create Ledger journal entries when transactions are posted within the module. |
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