Financial year fields
Field
Description
Year
Enter a year that represents the new financial year.
Description
Enter a description for the financial year.
Start date
The start date is automatically populated by adding one day to the end date of the previous financial year.
End date
Select an end date for the financial year.
Note  
*If the setting Year end date set by Planon is set to Yes in FieldDefiner > Financial years > Business object settings, the end date is automatically populated and Planon will define the financial year as an exact year with a fixed start date.
Costs excl. VAT
When creating a financial year, typically, the default setting is taken from System Settings. Here you can overrule this setting for a selected financial year, if required.
Click No, if you want to calculate costs including VAT or click Yes if you want to calculate costs excluding VAT.
Status
The status of the financial year is displayed: Open or Closed.
Journal entries generated for contract lines
If you applied the Generate journal entries for contracts action, this field will be automatically set to Yes. Journal entries are created for those contracts which belong to the selected financial year and are linked to a budget definition. For more information on the Generate journal entries for contracts action, see Adding a financial year.