Delete an accounting period

Deleting periods is most commonly used when you start a business part way through the financial year you want to use. For example, if you have set up an April to March financial year, but the business does not start until August. In this case, the first four accounting periods could be deleted from the financial year.

You can only delete a period when all the ledgers for that period are marked as Future.

Deleting an accounting period affects your nominal account budgets in the following ways:

• For nominal accounts that use annual budgets, the budget values for each period are updated. To do this, the annual budget is divided by the new number of accounting periods.
• For nominal accounts that use monthly budgets and where a budget has been entered for the deleted period, the budget value for the period is deducted from the annual budget.

• For nominal accounts that use profiled budgets, the budget percentage for the deleted period is added to the last period of the financial year.

  If the deleted period is the last period of the financial year, the budget percentage for that period is added to the previous period.

• You must have the correct user permissions to delete an accounting period.