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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Changing fiscal year i...
Microsoft Dynamics GP (Archived)

Changing fiscal year in current year

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Posted on by Community Member Microsoft Employee

Hello All,

Our accounting dept is going to be switching fiscal year periods. Currently we are on a July 1st - June 30th fiscal calendar. We will be going to a January 1st - December 31st fiscal calendar. I have found info related to using the ptsl fiscal period editor to change the time period. The question I received from accounting is if the budget dates will need to be changed. The current one loaded is for the current fiscal which when uploaded was set to end June 30th. With the change what type of edits are going to need to be made on the current budget spreadsheet that is uploaded. I'm assuming the periods will all have to be changed and then re-uploaded into gp correct? Any info is greatly appreciated. Thanks!

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  • Suggested answer
    Beat Bucher GP Geek GPUG All Star Profile Picture
    Beat Bucher GP Gee... 28,058 Moderator on at
    RE: Changing fiscal year in current year

    Hi,

    What Leslie means is that PSTL isn't probably the right tool for what you need.. Typically the PSTL is used to re-open past closed FY's and/or redo past FY calendars..

    In your case, as the FY isn't close and still ongoing, you may probably just want to extend your periods by adding 6 more to complete the Calendar Year 2017. Nothing says that you should have just 12 periods in a FY... I'm not an accountant, but I don't think this is a hard rule..

    Go to : Administration >> Setup >> Company >> Fiscal Periods

    Change your current number of periods from 12 to 18, and adjust the ending date. Then click on the 'Calculate' button and GP will throw a warning that it might add or remove periods from your current FY calendar. You should have taken a screen shot of your actual setup before continuing, as GP is just going to reset the periods by distributing evenly the days across the time span, especially if your month-end is not on the last calendar each month.. but maybe it will just be OK for you.

    2017_2D00_11_2D00_06_5F00_124548.png

    Try it out in a TEST company before applying to production. After you've changed the FY calendar, GP warns you that period balances might be out of sync and you should run a reconcile for the current FY.

  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: Changing fiscal year in current year

    Don't have a plan yet, just came across an article that said something about using that. Is there a better route you would suggest?  Thanks

  • L Vail Profile Picture
    L Vail 65,271 on at
    RE: Changing fiscal year in current year

    Why are you using the PSTL tool to change your fiscal year periods? I'm not sure that's the tool you want to use.

    Leslie

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