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Measure

How do I set up my accounting year?

Setting up your accounting year in TrackZero is a crucial, one-time action that determines how your carbon emissions are reported. This setup cannot be changed once completed, so it’s essential to align it with your organisation's requirements.

Choosing your accounting year

You have two options for setting up your accounting year:

  1. Calendar Year: Runs from 1 January to 31 December.
  2. Financial Year: Typically aligns with your organisation’s fiscal reporting cycle.

Considerations for selection

  • Large Organisations: Often align with the financial year for regulatory reporting purposes.
  • Smaller Organisations: May prefer using the calendar year for simplicity.

When to set up your accounting year

You can set up your accounting year at two points:

  1. During first-time setup: New users will be prompted to choose their accounting year while setting up their organisation.
  2. From the Measure page: if you haven't already set it during first-time setup, select Setup Reporting Year from the Measure page.

Steps to set up your accounting year

  1. Navigate to Measure.
  2. Select Setup Reporting Year.
  3. A pop-up will appear prompting you to select your accounting year.
  4. Choose between Calendar Year or Financial Year. If you choose Financial Year, you'll also pick the day and month it starts on.
    • Important: This decision is final and cannot be modified later.

Once completed, your accounting framework will be set. From here, each time you're ready to record a new year of data, use New Reporting Year to choose how often you'll record data.