Financial Year Based Accounting
Zoho Books run on Open Period Concept where one can enter transactions in Any year (Either Past Date or Future Date). This is a serious gap in internal controls where any of the executive may end up keying transaction in incorrect financial year and same will have impact on company's financial position.
Rohit Sharma
shared this idea
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mr harun
commented
You're right. It is customary for executives to control such processes because it dramatically affects the company's management. That is why excel sensitivity analysis will be one of those ways in which all the factors will be under control. For me, such a factor is one of the options that I was able to find on https://www.wallstreetoasis.com/resources/financial-modeling/sensitivity-analysis. This site is the most awesome of all those that I have checked in my little research. This is how we can say that this kind of management is a successful business project.
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Eugene
commented
This financial position makes sense to me because I am on the same path.