What is Fiscal Year?
A Fiscal Year in ERPNext defines the annual accounting period (e.g., April 2024 – March 2025) for Indian businesses, used for all financial reports and budgets.
Configuring the Fiscal Year
Go to Accounting → Fiscal Year. Create a new fiscal year with start and end dates. For India, this is typically 1 April to 31 March. Assign the fiscal year to companies if running a multi-company setup.
Year-End Closing in ERPNext
ERPNext does not auto-close at year-end — you must create a Period Closing Voucher. After closing, the new fiscal year's opening balances carry over from the Balance Sheet accounts, while P&L accounts reset to zero.
Infonoxe Technologies specialises in ERPNext implementation and custom software for Indian businesses.
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