Pastel Partner has the functionality to make use of an additional period and to allow a period of ‘grace’ or ‘extended’ the time in which your Year End can be completed.
To make use of this functionality it must be setup prior to completing the Year End process.
To setup the 13th period
- In Pastel, go to Setup… Periods
- Enter 13 in Number of Periods
- Select Use Last Period as First Period of Next Year tick box.
- Click OK.
- Making use of Period 13 in this way, it will allow you to continue your normal day to day processing without the pressure of completing your Year End on the last day of the financial year.
- After the Year End has been completed, any transactions processed in Period 13, will automatically be part of Period 1 of the new financial year.
- The previous financial year will reflect only 12 periods.