As we know, before any accounting operations, the accounting financial years involved must be created and open. This function is therefore used to manage, by company, the status of the financial years. Associated with that particular entry transaction validation screen. You may also get an error as “Incorrect date” while creating transactions in Sage X3. We can resolve this by opening the fiscal year for the respective company/site.
The start date of the first financial year is defined at the level of the Company record. It cannot be earlier than the start date of the first financial year defined during the creation of the folder. The end date is by default 12 months later, but it can be modified directly in the financial years management function.
- Navigate to : Common data > G/L accounting tables > Fiscal years
- Click on Fiscal year to open new financial year. Refer below screenshot.
- Select the dropdown Y/N as “Yes” against fiscal year which you want to open. Refer below screenshot.
- Now, click on “Opening” to open fiscal year.
Set dropdown against fiscal year as “Yes” and click on OK.
It will open the required fiscal year.
Hope this helps!
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