To a lot of us, a new calendar year also means a new fiscal year. Luckily, Teamleader comes well prepared so you have to do as little as possible. Should you still be somewhat uncertain about what needs to happen by the end of the fourth quarter, we've compiled a practical little Q&A especially for you:
- Do I need to create my own fiscal year for 2018?
- Will my numbering of invoices start anew from 1? And the numbering of the deals? And the numbering of all the other documents?
- What about credit notes?
- Can I create my own fiscal year?
- Can I still book invoices for the previous fiscal year?
- My Teamleader is linked to accounting software. Do I need to make changes?
Q: Do I need to create my own fiscal year for 2018?
A: No. If your fiscal year coincides with the calendar year, then Teamleader automatically generates a new fiscal year together with your first invoice of 2018 - even if that invoice is generated from a subscription. If you use one of our many accounting integrations, then by default the same journals as the former fiscal year are adopted.
Besides, this is not exclusive to fiscal years that coincide with the calendar year. Say your fiscal year ends on March 31st and you create a new invoice on April 1st, then Teamleader will likewise automatically generate a new fiscal year.
Q: Will my numbering of invoices start anew from 1?
A: Exactly. The numbering of your invoices starts again from the very first invoice of the new fiscal year. Its prefix will also be the name of the fiscal year. In the fiscal year 2018, that makes for a first invoice numbered as 2018/1.
Q: And the numbering of the deals?
A: No, the numbering of the deals will continue from the past years.
Q: And the numbering of all the other documents?
A: No, if you want us to change your numbering, we explain it in this article. Please read it carefully and follow the instructions.
Q: What about credit notes?
A: Same principle. The numbering of credit notes is also reset to start from 1 again. As you know, this numbering is independent from the invoice numbering.
Q: Can I create my own fiscal year?
A: Yes, you can. Go Settings > Invoices > Fiscal years > Button +. If you do this, Teamleader won't automatically generate a new fiscal year anymore. Creating your own fiscal years is also advised if you want to define your own invoice numbering.
Q: Can I still book invoices for the previous fiscal year?
A: Sure, you can always book invoices for the previous fiscal year. Just make sure you mind the date. Say your (provisional) last invoice of the fiscal year was dated December 20th, then it's still possible to add invoices dating from the 20th up to and including the 31st of December. Was your last invoice dated December 31st? In that case you can create invoices for this date only.
Q: My Teamleader is linked to accounting software. Do I need to make changes?
A: Most types of accounting software automatically generate a new fiscal year with the passing of the last one. Give it a check just to make sure, though.
Maybe it's a bit early, but happy New Year anyway!
Customer support service by UserEcho