How to change or extend financial year

ERPNext Accounting
1

Hi, Please share the best practice and necessary steps to extend or change financial year in erpnext.

Scenario is company is using financial year from April to March while in ERP it is defined as Jan to Dec.

2

Can you give me the below info to get better understanding.

  1. Are there already transactions in ERPNext for Jan–Dec?
  2. Do you want to completely switch to Apr–Mar or just add a new FY?
  3. Which ERPNext version are you using?
3

Transactions are already being done in ERPNext from Jan and took cutoff date from 1st April for stocks and accounts ledger balances.

Completely switch to April - March

v15.34.0

4

Hi @Amit_Kumar1

SQL Update is the last resort. You only need to update fiscal year docytpe date fields.

The reports will take effect automatically based on fiscal year updated dates.