Initiating the financial year

Payroll is always processed against a financial year (April–March). Every run, revision and report is scoped to it; switching the year in the company switcher re-scopes the app.

Steps

1. Company → Settings → Initiate financial year (or the prompt on the dashboard).
2. Confirm the year label (e.g. 2026–27) and the day basis for proration.
3. Set the two bonus defaults if you pay a bonus: the payout month (Ganpati, Diwali, Christmas, Eid — whatever the company's custom) and the minimum wage used for the statutory band check. Both can be changed later in Settings.

Mid-year onboarding

If a company joins Vetanika mid-year, run the earlier months of that year in sequence before the current one. PF, PT slabs and especially TDS projections are cumulative within the year; starting in September with April–August missing makes every TDS figure wrong for the rest of the year.

Year end

Runs for March close the year; the next April's run initiates the following year's cycle automatically for structures and revisions in force. Bonus and arrears schedules carry their own year references.