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Financial Periods tab

This tab enables you to adjust the start and end dates of each financial period used by your practice.  For detailed information on how Panacea uses financial periods click here .

Financial periods are generated automatically by Panacea in two ways:

  1. When your system date (i.e. today's date) moves into a new calendar month Panacea automatically creates a new financial period for the new month.
  2. After generating statements  you can elect to start a new financial period.  This enables you to "align" your financial periods with your statement printing dates, which is highly recommended.  Click here  for more information.

It is seldom necessary to adjust the start and end dates of financial periods.  However, if it does become necessary you can simply select System - Practice Settings - Financial Periods.  The following tab will be displayed:

By default Panacea gives each new financial period a Description consisting of the month name and year, e.g. "November 2011".  The From date and to date are the first and last days in that month.  All these items can be changed.  The only restriction is that each period must follow on from the previous, i.e. there cannot be any gaps between periods.

One common concern is that a period's name is not 100% accurate.  For example, you may have printed your statements on 25 October and elected to start the next financial period.  The October financial period may, therefore, end on 25 October.  You should not worry too much about this.  The Descriptions are used loosely and it is perfectly acceptable for financial periods to start and end anywhere in a month.

When making changes to the From or to date a DatePicker  is used to select the desired date.  As mentioned, make sure each period follows on from the previous and that there are no gaps between periods.

 
 
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