Finishing client company setup and set fiscal year

Finishing client company setup

Once added to the system as an Admin or an Accountant, you can finish client companies' set-up. If critical information is missing, Eleven will inform you with a notification at the bottom right.

• Go to Manage my companies top right corner.
• In the company list view, company that has not been fully setup, will have a button Complete my setup. Click on that button.
• Complete the missing information (tax code if applicable, company type, base currency) and save the form.

Setting fiscal year

Fiscal Year has no minimum and maximum duration limits. We will notify you when the fiscal year duration is below 6 months and over 18 months.

• In the company list view, company that has no fiscal year defined, will have a button Set a fiscal year. Press that button.
• Click on the New Fiscal Year button in the Fiscal Year list view. *Note: If you want to import past fiscal year data in Eleven, you will need to create your first fiscal year from the date you want to start using Eleven.
• Complete the missing information and save the form.

Generating Fiscal Periods

• Under settings, go to Fiscal Periods and click on Generate Fiscal Periods
• Fiscal periods will be generated by quarters and according to the fiscal year dates
• Fiscal periods can be locked or unlocked freely. If a fiscal period is locked, all journal entries, ARAP transactions, bank reconciliation will not be editable or added to the locked period

Defining currencies

Before setting up your Chart of Accounts

• On the navigation bar, select the Settings tab and the Currencies menu.
• Click on Add a currency.
• Select the currency you want to add and click Save.

Complete the currencies settings

• Fill all the default account for the reporting of the realised and unrealised currency gain/loss.
• Click Save.