The Financial year in India begins on April 1st of the calendar year and closes on March 31st of the next Calendar year.
To activate the New Financial Year, ensure that the March payroll is processed and the Lock Pay Process is done.
On the Home page, click “Transactions”.
Click “Manage Financial Year” under “Utilities”.
Click “Activate New Financial Year” under “Workflow”.
The “From Date” (beginning of the FY) and “To Date” (End of the FY) will be displayed.
Check the “Active” box.
The New Financial Year is now activated.