What this does
A financial year (FY) is the 12-month period your books are kept for. In India it runs from 1 April to 31 March. Each company in Manage needs a financial year before you can work in it. This article shows how to add the next one when the new year approaches.
Before you start
- You are the person who created the company. If it is shared with you, you can view financial years but only the creator can add new ones.
- The next year can only be added from 1 January of the year in which it starts. For example, 2027–28 starts on 1 April 2027 and can be added from 1 January 2027.
Add the next financial year
Select Financial Years in the left menu. If you have more than one company, choose the one you want. The page lists each year with its name, period, valuation method and status.
Select Add FY at the top right. A window called Add Financial Year opens. It shows the year being created, such as FY 2027–28. The Start Date and End Date are filled in for you, straight after your latest year, and you cannot edit them.
Choose the Default Valuation Method. It starts with the method used by your latest year. Valuation method means how the cost of stock is worked out: AVG COST uses the average cost, FIFO assumes the oldest stock is sold first, and LIFO assumes the newest is sold first.
Select Create FY. You will see Financial year created, and the new year appears in the list.
Add an earlier year
If you are moving old records into Aicountly, select Add prior FY. It adds the year just before your earliest one. This is meant for moving history only. Add one prior year at a time, then import the data under that year. Only the company owner can do this.
If the button is greyed out
Point at Add FY and a note explains why. A message also appears on the page. You may see that the next year already exists, or that it can be created from a particular date onward.