Overview
A fiscal period is used to measure and report financial results. Each client can create their own fiscal periods broken into fiscal year, fiscal quarter, and fiscal month. The fiscal year, quarter and month do not have to conform to calendar dates. It is not unusual to have 13 months in a fiscal year. The fiscal period feature allows you to create and manage these custom financial reporting periods so that they align with your organization’s financial calendar. This enables all users to run a subset of Paytronix financial reports with the fiscal periods available as defaults.
Before You Start
Ensure you have the proper permissions to utilize the Fiscal Period features. If you do not currently have access, contact your User Admin to get the proper permissions added to your account. Please contact Paytronix Support if you have additional questions after reading this article about the Fiscal Periods feature.
Using the Fiscal Periods Feature
This tool lives within the Program Administration section of the Paytronix Merchant portal underProgram Administration > Fiscal Period.
First use of Fiscal Period Feature
1. The system will ask you for the first fiscal year when you first use the feature:
a. First Fiscal Year - the first year you need fiscal reporting for. This will usually correlate with when you launched with Paytronix.
b. Number of Periods per Fiscal Year - this will correlate with the number of fiscal periods that exist within your fiscal calendar.
c. Begin Date - First day of the First Fiscal Year specified.
Creating a New Fiscal Period
1. Click on the New link that appears on the Fiscal Period Summary Table:
2. This page will output a default fiscal year. You can modify the duration of each period here by editing the # of Units and Unit (days or weeks), to align with your organization's financial calendar:
3. Click Submit when you are ready to confirm your specification. The fiscal year will be added to the overview page:
Editing an Existing Fiscal Period
1. You can edit the fiscal periods by clicking on the Edit link next to any existing fiscal year:
2. This will bring you back to the same configuration page that was used to create fiscal periods:
*Note: If the fiscal year edit changes the last period's end date, that will have an impact on the start/end dates of all fiscal periods and years after the year edited.
Deleting Fiscal Periods
1. You can delete fiscal periods by clicking on the Delete All link:
2. You will be asked to confirm your decision and press Submit to verify the deletion. This will clear our all Fiscal Period information previously configured. Follow the instructions on the First use of Fiscal Period Feature section to re-configure Fiscal Periods.
Using Fiscal Periods
1. Navigate to Report Center > Run Reports.
2. The Paytronix reports that require 'From' and 'To' date will have the ability to specify a Quick Date, where the Fiscal Period will exist as defaults:
For further assistance, please contact your solutions consultant or customer success manager, or email [email protected].