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ReportHello,
We may be changing our year end from December to January. What steps would we need to take in GP 2010 to facilitate this?
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Hello,
We may be changing our year end from December to January. What steps would we need to take in GP 2010 to facilitate this?
*This post is locked for comments
In Addition to what Harry and Mahmoud have mentioned, if your year tag will be "off" because of the change PSTL's fiscal period modifier can be used to "push back" the year tag so the current year will be what you want it to be. After the calendar is rebuilt you can then use the tool to update the year tag on transactions in all needed tables.
Couple of notes on using the PSL tool that I see people do which can cause problems.
Fiscal periods should remain the same for historical years. If you change these you will have issues. Basically just think of it as pushing the year tag back but the actual data for the historical year needs stays the same.
You cannot use the PSTL tool to combine a historical year and an open year.
You cannot use the PSTL tool to convert a historical year into an open year, or split a historical year between historical and open.
Joshua
There are few considerations prior to changing your year-end.
First, talk to your accountant!
Second, make sure you handle any paperwork required by the IRS. www.irs.gov/.../Form-1128,-Application-To-Adopt,-Change,-or-Retain-a-Tax-Year
I would also recommend making an archive at your normal year-end, which can make a switch back easier from a financial reporting perspective if the change doesn't accomplish the desired affect.
Consider the following references:
Let us know as you proceed if you need any further assistance,
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