In Nepal, the fiscal year runs from 2024-07-16 to 2025-07-16, which makes it a 13-month period (longer than 365 days). This seems to be causing errors or inconsistencies in the Financial Statements generated by ERPNext.
I have already enabled the “Is Short/Long Year” option in the Fiscal Year settings, but the reports still don’t reflect the data correctly.
Has anyone else faced this issue or found a workaround for handling non-standard fiscal years in ERPNext?
Hi
July 16 to July 16 can’t be a valid fiscal year because the start and end can’t share the same date.
Even if you intend to end at "midnight of July 16, most accounting systems and legal frameworks do not accept same day as closing for predecessor year and on the other hand opening for the next.
ERPNext does not support this things as well.
IFRS Standard References
IAS 1 Presentation of Financial Statements : Requires disclosing the period covered but doesn’t dictate dates.
IAS 10 Events After the Reporting Period : Considers the period-end as a fixed date (e.g., Dec 31, not Jan 1).
The problem is that they’re only the same dates in the Gregorian calendar. In the Nepali calendar, 16 July 2024 and 16 July 2025 are in different months.
Thank you @ahsantareen and @peterg for your helpful insights.
To clarify, Nepal follows the Vikram Samvat (VS) calendar, not the Gregorian one. The fiscal year runs from 1st Shrawan to end of Asadh, typically translating to 16 July to 16 July or 17 July to 16 July Though it appears as the same date in the Gregorian calendar for 16 to 16 case, in the Nepali system these are distinct and fall in different months and years.
If anyone here has dealt with similar challenges of managing Nepal’s 13-month fiscal years or non-standard fiscal periods in ERPNext, I’d really appreciate hearing how you addressed them. What workarounds or customizations did you find effective? Your insights or examples would be a great help to the community—thank you!
Solved this with no issues, just tick on short than 12 month check box, you are good to go