Financial periods: this is how it works
Financial periods are like brackets that enclose book entries. The periods can be completely different. The only condition is that they are all contiguous and that there is no gap. Excessively long fiscal years are just as possible as shorter ones.
If the duration of a financial period changes, a new one must be created and the old one deleted. The duration cannot be adjusted.
A financial period can only be deleted if it does not contain any book entries or if the period of the book entries is covered by another financial period.
When a financial period is closed, all the documents and entries it contains are fixed and cannot be changed. However, a financial period can be reopened or unlocked at any time.
