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Financial Year

A Financial Year defines the calendar boundary for your accounting and daily business operations. You must create and activate a financial year before you can record any transactions.

Managing Financial Years​

  1. Open Setup > Other setup & master settings > Financial Years.
  2. You will see a list of all your financial years showing their Start Date, End Date, and whether they are currently Open or Closed.
  3. The year marked as Current is the default period for new transactions and reports.

Financial Years List

Creating a new Financial Year​

When a new accounting year approaches (e.g., April 1st), you must create a new record:

  1. Click Create or New Financial Year.
  2. Enter the Year Name (e.g., "2024-2025").
  3. Select the exact Start Date and End Date.
  4. Save the record. You can then mark it as your active/current year.

Posting Restrictions (Books Closed)​

Digital Bahi supports period-locking to prevent accidental changes to finalized accounting periods.

  • Books Closed Until: Any transaction dated on or before this date cannot be created, edited, or deleted.
  • Next Allowed Posting Date: Transactions can only be recorded on or after this date.

Note: These restrictions protect your accounting integrity after you have filed your returns or audited your books.