> For the complete documentation index, see [llms.txt](https://smartbooks.gitbook.io/smartbooks-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://smartbooks.gitbook.io/smartbooks-docs/faq/is-it-possible-to-have-an-extended-financial-year-in-smartbooks.md).

# Is it possible to have an extended financial year in Smartbooks?

No. In Smartbooks, a financial year always consists of **12 financial periods**. Extended financial years with more than 12 periods are not supported.

#### What if my accounting system uses an extended financial year?

Smartbooks **can still connect** to accounting systems that use an extended financial year. However, some adjustments are required to make the data fit within Smartbooks’ 12-period structure.

In practice:

* Smartbooks will still operate with **12 periods per year**
* This setup only works if the extended financial year has already been **closed or transitioned** in the source system
* Ongoing use of more than 12 periods within a single year is not supported

#### Why does Smartbooks use 12 periods?

Using a fixed 12-period structure ensures:

* Consistent reporting and consolidation
* Predictable budgeting and forecasting behaviour
* Alignment between actuals, projections, and planning scenarios

This design avoids ambiguity in time-based analysis across entities and consolidations.

If you are unsure whether your setup can be aligned with this structure, we recommend contacting **<support@smartbooks.ai>** so we can review your situation and advise on the best approach.