Dynamics Community Forum Thread Details

Changing Fiscal Periods from 12 to 52 !!!

Hi,

Our Fiscal Year is from 1st July to 30th June. Initially we declared 12 (monthly) Fiscal Periods and we are monthly (soft) closing our Periods, so that no one can make entries in previous months. However, now company feel that every week should be (soft) close, so that no one can make entries in previous weeks and every one should finish his/her entries on daily basis. My question has 2 parts:

1. Now when we are in middle of year, can I change these 12 Fiscal Periods to 52 Weekly Periods and after applying this change with Calculate button on Fiscal Periods Setup window, do I need to run any other Utility/Routine so that all the data/balances distribute accordingly? Any guidelines/document to proceed with this activity?

2. Our only purpose is to stop the team members to enter data in previous weeks, so what if I declare 52 weeks and does not run any utility/routine to consolidate fiscal periods or data/balance distribution and when we are ready for YEAR END, then again we change Fiscal Periods to 12 and then will close the Fiscal Year. For next year, we'll make that Weekly Periods from the beginning. Please advise?

Your support and guidelines will be highly appreciated.

Categories:

Microsoft Dynamics GP

Hello Adeel,

Thank you for your posting your question on the Forums.

Regarding your first question, you would want to follow the article below to change your Fiscal Periods. This is only applicable for Open years. You cannot change dates for Historical years as it will cause issues with your balances.

support.microsoft.com/.../how-to-change-the-fiscal-period-setup-in-general-ledger-in-microsoft-d

For your second question, you can use the same KB to change it back to 52 periods as well before closing the year. Then your next year, you would need to set 52 periods and change it back to 12 at closing time as well.

Another option instead of switching your Fiscal Periods over and over again is to setup a workflow so that any batches or transactions have to be approved before posting. I looked to see if we had an option to look at the System Date. Unfortunately, i did not find one. But you can setup it up to require approval for posting.

Below is a link on workflow.

support.microsoft.com/.../documentation-for-workflow-2-0-in-microsoft-dynamics-gp

You can also wait and see if the community has run into this and how they have approached this scenario for additional ideas.

I hope this helps!

Microsoft Support Enginer | Brandon Jarrett

Quick Links

Leaderboard