Setting the fiscal year start

Your fiscal year start date determines how Usystems groups transactions for reporting, aging calculations, and year-end closing. Most businesses use the calendar year (January 1), but you may use a different period depending on your region or business needs.

Before you start

• You need admin permissions to configure company settings.
• This setting applies to your entire company and all branches.
• The fiscal year affects aging reports (how unpaid invoices are grouped by age) and year-end balances.
• Change this during setup, before processing transactions; changing it later can affect reporting consistency.

Steps

1. Go to Settings → Company Setup. Open in Usystems

2. Look for the Fiscal Year or Financial Year Start field.

3. Select or enter the month and day when your fiscal year begins. For example:

   • 1 January for a calendar-year business
   • 1 July for a mid-year fiscal year
   • 21 March (Farsi New Year) for Afghan companies using the Islamic calendar

4. Click Save or Update to confirm.

5. Verify the setting appears correctly in the company profile.

Accounting impact

Usystems uses your fiscal year start to:

• Group transactions into fiscal periods for reports and aging analysis
• Calculate year-on-year balance comparisons
• Organize financial statements by fiscal period

The fiscal year start does NOT change how individual transactions are recorded or their accounting dates; it only affects how they are grouped for reporting.

Tips & common mistakes

• Set this early. Changing the fiscal year start after you have processed transactions can cause aging reports and period-based summaries to shift unexpectedly.
• Align with legal requirements. Use the fiscal year your tax authority or auditor expects for your country.
• Document the choice. If your company uses a non-standard fiscal year, note it in your internal records so team members and auditors understand why reports begin and end on those dates.
• Test aging reports. After setting the fiscal year, run an aging report to confirm that age buckets (current, 30+ days, 60+ days, 90+ days) are calculated as expected.