How do I set up an extended financial year in Yuki?

Disclaimer

All screenshots in the article were taken in the Dutch version of Yuki.

The financial year generally covers 12 months that coincide with the calendar year (from January 1st to December 31st).

However, when starting a company as a legal entity during the calendar year, an extended financial year can be chosen.

You can specify in the company's articles of association that the first financial year is an extended year, running until December 31st of the following year, for example, from October 1st, 2017, to December 31st, 2018.

ATTENTION!

• An extended financial year must be requested from and approved by the tax authorities.
• An extended financial year must be shorter than 24 months (a maximum of 24 months minus 1 calendar day).

TIP!

When reporting for an extended financial year, you can manually enter the start and end dates.

Only a user with the 'Back office' role in the domain can set up an extended financial year for an administration.

Click on the Back office icon in the navigation bar and then, in the now-opened screen, click on > for the relevant administration for which you want to set an extended financial year.

The following screen is opened:

In the now-opened screen, click on the Edit button to enter the extended financial year on the Administration tab.

In the description below, an extended financial year is set, running from 01-10-2017 to 31-12-2018.

Under Financial year set the following:

• Under Does the financial year of your company run from January to December? select No.
• Under From which fiscal date do you want Yuki to start your accounting? specify the date (01-10-2017) on which the extended financial year starts.
• Then click on the Save button at the top of your screen.

Open the relevant administration and then click on the Administration tab again.

In the now-opened screen, click on Advanced settings. The following screen is opened:

To enter the end date of the extended financial year for the administration, click on the + button at the top of your screen. The following screen is opened:

For FY 2017/18, select the correct end date of the extended financial year and then click on the Save button. The following screen is opened:

The extended financial year running from 01-10-2017 to 31-12-2018 is now correctly set in the administration.