Setting Up Client Entities | Eleven for Accounting Firms

In this guide

Finishing client company setup Creating the first Fiscal Year Defining currencies Importing balances Generating carry forward Closing a fiscal year and generating carry forward in new 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.

Creating the first Fiscal Year

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.

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.

Defining currencies

On the navigation bar, select the Settings tab and the Currencies menu.
Select a сurrency.
Fill all the default account details for the reporting of the realised and unrealised currency gain/loss. *Note : If you do not see any account it is because those default account currencies need to be set to the base currency of the company.
Save the information.

Importing balances

On the navigation bar, select the Accounting tab and General Ledger menu.
On this page, to the right, please click the Import CSV button.
Download the template and then complete your own CSV.
Import the CSV using the same interface.
Refer to the template if you receive an error message.

Generating carry forward

Go to Manage my companies at the top right corner.
Click on the ellipses and from the menu, select Manage fiscal calendar.
Click on the ellipses of the Fiscal year you want to generate the carry forward, and from the menu select Carry Forward.
Select the account the carry forward should be generated with and click on Create Entry.

Note: Carry Forward entry will be automatically generated again and updated when the previous FY is closed.

Closing a fiscal year and generating carry forward in new fiscal year

Go to Manage my companies at the top right corner.
Click on the ellipses and from the menu, select Manage fiscal calendar.
Click on the ellipses of the Fiscal year you want to close, and from the menu select Close Fiscal Year.
Complete the missing information and click on Close Fiscal Year.
Click on New Fiscal Year to create a new fiscal year.
Click on the ellipses of the Fiscal year you want to generate the carry forward, and from the menu select Carry Forward.

Note: Closed Fiscal Year cannot be reopened. A close FY will have all its entries in Read Only. Only proceed to close a Fiscal Year if you have submitted the final Financial Reports.