What are financial periods?
Financial periods are set dates in which you track spending for auditing purposes, such as a financial year lasting from April to March of the following year.
By breaking down procurement budgets into quarters or months, teams can more effectively monitor spending, plan purchases, and make adjustments to those things, as required.
How to set them up?
You can set up the different financial periods that you need in the Management Portal:
Choose Financial Period from the left-hand menu.
Click +New in the top right of the window.
Give your financial period a name and then click Save.
Go to the Periods tab that will appear after you save, and click +New in the top right.
Choose the start date of your first period, and the end date.
Leave it as period 1 and then give it a year name (e.g. 2025, or 2526 if spread over two years)
Click Save.
Repeat for all periods in your new Financial Period, until you have periods for a full year.
Head to the Locations tab and turn your period on for the desired locations and departments using the toggles.
The financial period will then apply to the flash report for those locations/venues.
Here's how it should look:
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