ClearPoint allows you to incorporate fiscal years instead of calendar years for reports, calculations, and charts. This allows you to analyze your financial data based on your financial cycle, which can provide you with a clearer picture of how your business is performing.
Add a Fiscal Year in ClearPoint
You can use any option involving fiscal years in ClearPoint, such as Fiscal YTD series calculations and displaying Fiscal YTD periods in a chart or summary report.
In this example, we are going to add the Fiscal Year of 2024.
From the Control Panel click on System Settings
Select Fiscal Years under Reporting Periods
Click on the Plus icon to create a Fiscal year
Under Name, enter the name of the new Fiscal Year, in this example, ‘FY 2024’.
Select a Start and End Date, by default the current fiscal year will be preselected, you can always modify the dates to your specific needs.
Once you are done with your changes, click Save
Note that fiscal years cannot overlap in ClearPoint. This is important to ensure calculations roll up properly.