Dynamics Community Forum Thread Details

Changing the fiscal calendar of an entity to a shifted year

Hello everyone,

We're in need of changing the calendar year of a legal entity that has jan-Dec calendar so far to "Mar-Apr". I went throug the blog below but unclear with a few things. Wanted to understand the experiences from the community.

https://kaya-consulting.com/ax-2012-change-fiscal-calendar-to-a-shifted-year/

1. In the blog it is mentioned that "The Recalculate ledger balances process will update the contents of the fields FiscalCalendarPeriod and FiscalCalendarYear in the table GeneralJournalEntry for the records belonging to the current Ledger. Based on the accounting date and old values, new references for the new fiscal calendar will be updated." what this change actually mean from a functional standpoint? what is the effect of it.

2. Legal entity has transactions from 2012 year(Jan-Dec) and below are how the transactions in a specific account. Since the year ends in Decemeber, when closing was run..a opening transaction was created for 01-jan-2013 for 600amount which is closing balance until Dec-2012 which is correct.

After changing the calendar to the new one i.e., from Apr-Jan, I did perform Recalculate ledger balances and I see that this impacted the opening transactions available in the system. The opening transaction of 01-01-2013 is now showing the date as 01-Apr-2013 and I believe changing this straight forward is wrong. Real opening balance of Apr-2013 should be just 100 USD.

Q1. So, is it necessary that we should run the closing also again?

Q2. If we run and these opening transactions get readjusted, wont that be an issue from Auditing point of view..

Q3. Is it better that we dont run recalculate ledger balances?

Q4. If we dont run it, how is it going impact.

Andre Arnaud de Calavon - Andre I believe that you may help with some answers.

Regards,

Santosh

Hi Santosh,

Thanks for reading the blog. I will try to answer some questions, however some details are a technical solution for internal references.

1) Recalculate ledger balances. Each accounting entry has a reference to the period in which this transaction is included. When you have a complete new fiscal calendar, then May will remain May, but the record ID of the new May is different. So, it will change internal record ID references. Then this can be used for new balance records.

2) Can you tell what exact changes are done for the 2012 and 2013 fiscal years? What was the previous years and what is the new scenario?

E.g. was it Jan 2012 to Dec 2012 which has now Jan 2012 to Mar 2013? Or do you have an additional "year" of Jan 2013 to Mar 2013"?

From an audit point of view: If you change the calendars afterwards, then indeed it needs to be approved and checked. Do you really need to change calendars for 6-7 years ago? Or is it an example?

Quick Links

Leaderboard