GP Fixed Assets changing fiscal year.

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Posted on by Richard Wheeler

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We are changing our fiscal period from calendar to 04/01-03/31

I have a question regarding how our fiscal year change will affect the fixed asset depreciation schedule.

It didn’t occur to me until now that this may need to be updated. I’m currently in the process of running our 3/31/2012 depreciation and don’t think that should be an issue.

However, after running our March depreciation I’m thinking I’ll need to close our fiscal year 2012 and roll over into 2013.

Going forward our fiscal years will be as follows: We used 2012 as a stub period recognizing only 1/2012 – 3/2012.

Q1-2013 – 4/2012 – 6/2012

Q2-2013 – 7/2012 – 9/2012

Q3-2013 – 10/2012 – 12/2012

Q4-2013 – 1/2013 – 3/2013

My questions are do we need to update the fiscal quarters in fixed assets (which I believe we need to do) and how do we go about doing that? Can we just do it for 2013 and have it roll forward?

Please let me know if you need me to provide additional information.

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Sunbeam De Jesus on at

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Re: GP Fixed Assets changing fiscal year.

There a rebuild FA calendar and sync to your GP fiscal period. I think you will have to perform this.

I havent done this before, you' may need to create a test company out from your live to test.