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How to manage Fiscal Year for older transactions

Hi

My setup:
ERPNext: v12.26.0 (version-12)
Frappe Framework: v12.23.0 (version-12)

Current fiscal year under "Global Defaults’ is set 2021-2022.

I have created another fiscal year : 2020-2021 (enabled)
I need to enter some transactions in that fiscal year.

Question:
When I enter transactions for that fiscal year ( 2020-2021) must I change the
“Current Fiscal Year” (Global defaults) and then enter those transactions?
And then when I enter the current years transactions that I change the “Current Fiscal Year”
back to 2021-2022?

Or must I simply keep the current fiscal year as the current year and just ensure that the “older” fiscal year has been enabled. In other words, does the system block financial/stock
transactions based on the “Current Fiscal Year” setting?

Thanks

Update

I found this snip is a doc
(URL for doc https://docs.erpnext.com/docs/v12/user/manual/en/accounts/articles/fiscal-year-error )

Here the snip…

I dont see this when I enter a purchase invoice ?

You can select the date in transactions and system will post the transaction in the respective financial year. You don’t have to change the financial year in global defaults. In account settings erpnext have the option to block the user from entering transactions prior to the date.

Thank you @Saumyaseelan_Pv for taking the time to help me.
I appreciate it.

I just need to clarify, you are refering to the account settings for a particular user ?
“User and Permissions” -> “User” ->

I dont see anything here …

No. I was talking about account module settings. Just search account settings in the search bar and you will get the same

https://docs.erpnext.com/docs/v12/user/manual/en/accounts/accounts-settings#1-accounts-frozen-up-to

Ah ! I understand !

Had a look at my settings …

Those fields are blank so there should be no problem ?

So to summarise …

Current fiscal year … 2021-2022 (Global defaults)
As long as I setup the previous fiscal year ( “fiscal year list” )
and enable it … 2020-2021 (enabled)

I can enter the transactions in that fiscal year (2020-2021)