Financial years

See your financial years, add a new one, and close a year so no new entries can be posted into it, or re-open it.

Every entry in Arthlekha belongs to a financial year (FY). An Indian financial year runs from 1 April to 31 March. Arthlekha creates the current year, and the next one, for you the first time you use it. You only need this screen to add an older year or to close a year.

Steps

1. Open Settings > Configuration.
2. Click Financial Years to open the section.
3. Read the list. Each row shows the Code, the Start and End dates, and a Status.
4. Open means you can post entries on that year's dates. Closed means you cannot.
5. One year carries the Default label. It is the year Arthlekha uses when no year is picked, for example for opening stock.

Add a financial year

1. Click New FY.
2. Pick the Start date, for example 1 April 2024.
3. Pick the End date, for example 31 March 2025.
4. Leave Code (auto-filled if blank) empty to get a code like FY-2024-25, or type your own.
5. Click Create.

You can also add a year from the Dashboard with + Add FY. See Dashboard.

Close a financial year

Close a year once its books are final, for example after its GST returns are filed. This stops anyone from adding or changing entries in it by mistake.

1. Find the year in the list.
2. Click Close.
3. A message asks you to confirm. Click OK.
4. The status changes to Closed.

Re-open a financial year

1. Find the closed year.
2. Click Re-open.
3. The status changes back to Open. You can post entries on its dates again.

Switch the year you are working in

This screen does not change the year you are working in. To do that, use the Financial Year box on the Dashboard.

Common problems

• Financial year already exists — a year with the same start and end dates is already in the list.
• Financial year FY-2024-25 is closed. Re-open it from Settings → Financial Years to post entries. — the date of your entry falls in a closed year. Re-open the year, save the entry, then close the year again.
• Financial year FY-2024-25 is closed. New entries cannot be posted to a closed period. — the same cause. Re-open the year, or correct the date.
• This date falls in FY-2025-26, but you are working in FY-2026-27 — you are saving a receipt, payment or journal dated in a different year from the one picked on the Dashboard. Switch the year on the Dashboard, or check the date.
• Create stays greyed out — fill in both Start date and End date.

Related

• Configuration
• Invoice series
• Opening balances

More in Settings