Adjusting a Client's End of Fiscal Year

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:

2020 New View Dashboard
  1. Sign in to the SmartVault Portal.
  2. Navigate to Client Management: Select Client Management from the left sidebar.

    CM - Left pane+.png

  3. Select the Client: Find and click on the client whose fiscal year-end you need to adjust.

    CM - Select client to adjust fiscal year.png

  4. Edit Client Details: Click Edit on the Client Details page.

    CM - Client Details Edit.png

  5. Adjust the Fiscal Year: Click on End of fiscal year and select the correct month from the dropdown menu.
    CM - Adjust Fiscal Year.png
  6. Save Changes: Click Save Client to confirm the adjustments.
    CM - Adjust fiscal year save.png

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.

Was this article helpful?
0 out of 2 found this helpful