Business Settings

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Business settings are settings related to your business account, such as:

• Financial Year
• Lock Period
• Time Zone
• Costing Method
• Email Alert
• Decimal Point

To set up or update your business setting, kindly follow the steps below :

1. Click on the Control Panel > Company > Business Setting

2. Business Setting tab created.

3. General Setting

• Start Date
  • Note: Specify the date that you started using Financio to track your business transactions, leave it as the first day of your current financial year if you are not sure.
• First Financial Year End
  • Note: Specify the last month of your financial year. For the first financial year, Financio does support financial year up to 18 months.
• Period Lock Date
  • Turn on Lock period (Toggle) and enter the lock period if needed.
• Enter your First Financial Year Period
• Review your Subsequent Financial Year End

4. Choose your preference Costing Method.

• There are 2 Inventory Costing Method available for Financio Premier Package which is:
  • Average Cost
  • First In First Out (FIFO)
• Once you choose your Inventory Costing Method, it cannot be change to another method forever.
• For Financio essentials, only can choose FIFO.

5. Review your Time Zone.

• It will appear once you generate your report.

6. Set your Email Alert.

• To get any notification email regarding Cashflow and Pending/Overdue Invoices.

7. Set your Decimal Point.

• The decimal point will take effect for all transaction.

8. Click on Save.