At SmartVault, we recognize your business's diverse needs, including setting a specific end of the fiscal year for your clients. While SmartVault assigns December as the fiscal year-end by default, we offer flexible settings that allow customization according to your and your client's unique requirements.
Whether you're onboarding new clients or updating records for existing ones, you can adjust the end of the fiscal year for any client within SmartVault.
The following video walks you through the changes that take place within SmartVault once you change the end-of-fiscal-year setting:
Steps to Change a Client's Fiscal Year
Select the tab corresponding with your SmartVault's view:
- Sign in to the SmartVault Portal.
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Navigate to Client Management: Select Client Management from the left sidebar.
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Select the Client: Find and click on the client whose fiscal year-end you need to adjust.
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Edit Client Details: Click Edit on the Client Details page.
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Adjust the Fiscal Year: Click on End of fiscal year and select the correct month from the dropdown menu.
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Save Changes: Click Save Client to confirm the adjustments.
SmartVault automatically updates the fiscal year's end for all the Accounting Services engagements for the client, ensuring all related records reflect the new settings.
- Sign in to the SmartVault Portal.
- Navigate to Clients: From the Dashboard, click Clients.
- If you want to add a new client, click the Add client icon and fill in the contact information.
- If you want to edit a previously created client, click the Client info icon and then click the Edit client icon.
- Scroll down to the End of fiscal year section and click the plus icon.
- Click December and select the month you want to make the fiscal year-end.
- Click the Save changes icon.
SmartVault automatically updates the fiscal year's end for all the Accounting Services engagements for the client, ensuring all related records reflect the new settings.
Verifying Your Changes
To verify the update, open the Connected Desktop, navigate to the client's Accounting Services folder, and click Refresh. This action will reorganize the folder to reflect the new fiscal end date, ensuring that new engagements display the correct information.
Why Adjust the Fiscal Year-End?
Customizing the fiscal year-end aligns with your client's financial planning and reporting cycles. This adjustment ensures that SmartVault mirrors its actual accounting periods, enhancing the relevance of the stored documents and supporting better financial management and compliance.