Change fiscal periods

(0) Share

Report

Posted on by Richard Wheeler

75,848 Moderator

What is the best way to handle this change of fiscal periods? Current year is 10/1 - 09/30. So 2014 is defined as 10/01/2013 - 09/30/2014. The CFO has decided now to go with a calendar year but does not want 2014 to have 15 periods. So the question is to what to label the stub year of 10/01/2014-12/31/2014. 01/01/2015 - 12/31/2015 will be year 2015. We already have a year of 2014. So when I go to the Fiscal Period Setup screen what should I enter as the year?

*This post is locked for comments

I have the same question (0)

All responses (6)

Answers (1)

John Olley 365 on at

Like (0)

Report

RE: Change fiscal periods

Do you have a test server? Try 2014B. I'm pretty sure that would work but test it first. Run GL, RM, SOP, POP, PM, ect transactions with that year and see how it looks in the GL. Run some reports too. Just remember that your reporting would have to look at year "2014B". I wouldn't use any special characters as SQL doesn't like them much. No dashes or things like that. 2014 and 2014B would remain "open" years until you did year end closing on them.

Thanks,

John Olley

Was this reply helpful? Yes No
Richard Wheeler 75,848 Moderator on at

Like (0)

Report

RE: Change fiscal periods

I think it will need to be 214B. It will not let me enter more than 4 characters.

Was this reply helpful? Yes No
John Olley 365 on at

Like (0)

Report

RE: Change fiscal periods

Well, that foils that plan! I didn't try it on my end. I should have before I suggested that. That makes sense though. Maybe 3014? 2114? I'm sure someone out there has a batter suggestion than I do.

Was this reply helpful? Yes No
Verified answer

Frank Hamelly | MVP... 46,619 Super User 2025 Season 2 on at

Like (0)

Report

RE: Change fiscal periods

Has to be 4 numeric characters. 9914?

Was this reply helpful? Yes No
Community Member on at

Like (0)

Report

RE: Change fiscal periods

We went through this a few years ago. In our case we were changing from a 7/31 year end to 12/31 so we were going to use 1211 to end 12/31/11. If I remember right everything in GP worked fine but we ran into an issue in FRx when trying to use the BASE function in columns to compare years. BASE-1 from 1211 becomes 1210. Unless it actually looks at the dates of the years this could also be an in issue in Management Reporter. Now it might not matter since having a stub year causes problems when making comparisons anyway. We had to set the columns in FRx manually when making comparisons to those years.

Was this reply helpful? Yes No
Richard Wheeler 75,848 Moderator on at

Like (0)

Report

RE: Change fiscal periods

Thanks for this reminder. We will take this into consideration. This change has to happen so let's see how it goes.

Was this reply helpful? Yes No