Manage administrations and financial years

The Financial Application is divided into administrations. Most communities have only one administration. If you have multiple administrations, each administration has its own environment with its own Financial tree.

Each administration is divided into financial years. Financial years are equal to calendar years. Thus, you will have to create a new financial year at the start of each calendar year. If you have multiple administrations, the new financial year must be created separately for each of them. You can always go back to previous financial years and view its contents.

Genkgo has already created an administration for you. When you open the Financial Application, you will see an overview of your administrations. You can click on an administration to open it.

Create a new administration

In the overview of administrations, you can create a new administration with the button ‘Add administration’ in the toolbar. When you click this button, you only need to enter the name of the new administration. Then click on ‘save’ to confirm. You will immediately see the new administration appear in the overview. Click on the name to open the administration.

NB! Settings are specific to an administration. For new administrations, you will have to make new settings.

Create a new financial year

To keep your financial administration organized, it is important to create a new financial year at the start of each calendar year. At the top of the Financial tree you can see in which financial year you are currently working. The name of the administration is displayed followed by the financial year in brackets, e.g. ‘Genkgo (2020)’.

Click on ‘Add financial year’ in the toolbar. Enter the number of the year. Then choose the type of accounting of this financial year: corporate accounting or association accounting. Click on ‘save’ to confirm. You can immediately start working in the new financial year.

Settings for the administration and financial year can be made elsewhere.

Delete a financial year

If no invoices and/or transactions are connected to a financial year, it can still be deleted. Click on ‘Delete financial year’ in the toolbar. Confirm with ‘delete’.