In previous releases of CAPITAL below version 7.4, when a financial year spanned more than one physical year, the year dating of the general ledger referred to the year in which the first financial reporting period began.
In later versions of CAPITAL including CAPITAL 7.4, the financial year now refers to the year in which the last financial reporting period ends.
For example, if the start period of a financial reporting period begins on the 1st of July 2005, and ends on the 30th of June 2006, in CAPITAL 7.4 and above this financial year is referred to as '2006'. In previous versions of CAPITAL GL Controller, this financial year would have been referred to as '2005/06' or '2005'.
For companies that report within the same year, e.g., 1st of January 2006 to 31st of December 2006, there is no change to the numbering sequence of years in later versions of CAPITAL GL Controller.