---
title: Fiscal years
description: "> 📍 **Where to find this module?** > *Main menu > Finances > Fiscal years* --- ## Introduction The **Accounting periods** module allows you to define your company’s accounting periods. Each period defines a timeframe (generally 12 months) during which…"
url: "https://www.kafinea.com/en/help/accounting/fiscal-years/"
updated: "2023-11-28"
category: Finance / Accounting
---

# Fiscal years

> 📍 **Where to find this module?**
> *Main menu > Finances > Fiscal years*

---

## Introduction

The **Accounting periods** module allows you to define your company’s accounting periods. Each period defines a timeframe (generally 12 months) during which accounting entries are recorded. It is accessible via ***Finance > Accounting periods***.

The accounting period is a fundamental element of accounting: it determines the period over which financial statements are prepared and governs the generation of accounting entries.

---

## 1. Create an accounting period

Click ***Add a period*** from the module list.

**Information to provide:**

- **Name**: the label of the period (e.g., "Period 2025")
- **Start date**: the first day of the period
- **End date**: the last day of the period
- **Status**: the period’s status (active or closed)
- **Exchange rate for accounting**: the type of exchange rate used for entries in foreign currency
- **Exchange rate for inventory valuation**: the rate used to value inventory at the end of the period

> **Important:** Only one accounting period can be active at a time. Make sure to close the previous period before activating the next one.

---

## 2. Period lifecycle

| Status | Description |
| --- | --- |
| **Active** | The current period. Accounting entries are recorded in this period |
| **Closed** | The period is finished. No new entries can be added to it |

> **Important:** If you record a document whose date corresponds to a closed or non-existent period, Kafinea warns you that no accounting entries will be generated. You can choose to continue or cancel the recording.

---

## 3. Cash accounting

Each period has a ***Cash accounting*** option that lets you switch between two accounting modes:

- **Accrual accounting** (default): entries are recorded on the date of the triggering event (issuance of the invoice)
- **Cash accounting**: entries are recorded on the date of actual receipt or payment

For more details, see the page [Cash accounting](https://www.kafinea.com/fr/documentation/exercices-comptables/la-comptabilite-de-tresorerie/).

---

## 4. Frequently asked questions

**Does my accounting period have to match the calendar year?**
 No, a period can start and end on any date. Some companies have offset periods (e.g., from April 1 to March 31). The standard duration is 12 months, but the first period may be shorter or longer.

**What happens if I forget to create a period?**
 Documents will be recorded normally, but no accounting entries will be generated for dates not covered by an active period. Kafinea displays a warning in this case.

**Can I reopen a closed period?**
 Technically, the status can be changed. However, reopening a closed period should remain exceptional and be done with caution, as it may impact financial statements that have already been produced.

---

## Related references 🔗

- [Accounting](https://www.kafinea.com/fr/documentation/comptabilite/la-comptabilite/)
- [Cash accounting](https://www.kafinea.com/fr/documentation/exercices-comptables/la-comptabilite-de-tresorerie/)
- [Financial statements](https://www.kafinea.com/fr/documentation/comptabilite/les-etats-financiers/)