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.

  • Fill in the name and the three date fields (marked with a red asterisk).

  • 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.

  • 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.