Managing Financial Years (Fiscal Years) in Unimarket

  • Updated

In Unimarket, Financial Years (Fiscal Years) allow your community to track spend against specific budget cycles and manage the transition between years through configurable overlap periods.

 

Core Date Logic

When setting up a Financial Year, there are three critical dates to understand:

  • Activation Date: The date the system begins defaulting new orders to this year during checkout. This can be set before the Start Date to allow for forward-dating.

  • Start Date: The official first day of the fiscal period.

  • End Date: The official last day of the fiscal period.

 

Managing Financial Years

Navigation: Administration > Modules > Procurement.

 

Adding a New Year

  • Select the Management tab and FY tab.

  • Click +Add Financial Year.

  • Name field: The financial year name that displays to users in Unimarket.

  • Code field: Must be a 4-digit number (e.g. 2026).

  • Start Date is the official first day of the fiscal period.

  • The Activation Date is the date the FY becomes the default and will be enabled (if the Enabled box is checked). 

    • Tip: If you are preparing for next year but don't want it to start defaulting yet, set the Activation Date to a future date.

    • When enabled, the FY will appear as an option, on the Checkout screen. Once activated, the applicable FY will appear in the Default Financial Year section.

  • End Date is the official last day of the fiscal period.

  • Click Add.

 

Enabling and Disabling

A Financial Year must be Enabled to be selectable by users.

  • To toggle status: Locate the year, click Edit, and check or uncheck the Enabled box.

  • Once completed, select OK.

 

Editing Existing Years

If budget cycles change, you can update existing years by selecting Edit next to the desired year and modifying the date fields.

 

Why use Overlap?

By setting an Activation Date earlier than the Start Date, your buyers can begin coding requisitions for the upcoming year while still in the current one. This is especially helpful during "year-end" processing to ensure spend is hit against the correct budget.