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Financial year for financial report

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Posted on by Rlau

Could anyone advise how to set up financial year for the income statement generated ?

Our company financial year is not align with the calendar year, current set up of income statement is from Jan-Dec, and I would like to change it to Dec-Nov, please assist. Thank you.

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Hello,

To setup NAV it starts with the Accounting Periods. Your Accounting Periods should have Starting Date = 12/1/xx for 12 months, ending 11/30/xx. In search, go to Accounting Periods. On the screen, which I am guessing is blank, you will Create Year. Entering Starting Date and No. of Periods = 12, with Period Length = 1M. Click OK.

You will see all the Months created. Now you can run an Income Statement by Fiscal Month and Year. Your Account Schedules can be built to properly show Month and Year-to-Date.

Hope this helps.

Thanks,

Steve

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Rlau 65 on at

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Dear Steven

Thank you for your reply.

The current Accounting Periods are set up correctly with New Fiscal Year box checked in Dec.

My problem is on Income Statement. When I run the Income Statement, it displays from Jan-Dec, I want it to show from Dec-Nov, instead of Jan-Dec.

Any idea how to fix this? thanks.

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Dirk on at

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Hello,

Can you add a screenshot of your accounting period setup, please?
And ... how does December 2020 look like?
And ... do you get the correct results if you manually change the Edning Date to "C30.11.2020" ?

Thanks

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Hello,

Can you provide a screenshot of the Account Schedule your are running and the Column Layout you are using. The Column Layout defines the columns that appear and print. Also, per Dirks request the Accounting Period screen.

Thanks,

Steve

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Rlau 65 on at

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Hi Steven

Please see below Accounting Periods screenshot.

And I don't understand your last question about manually change the Ending Date to "C30.11.2020"

Thank you.

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Rlau 65 on at

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Dear Steve

Please refer below screenshot of the Account Schedule, The first two are mainly use.

For the Column Layout, not sure how to find it, I attached below the screenshot which show Column Layout Name.

Thank you.

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Dirk on at

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Oh, I guess see now.

Is it correct that you have accounting periods from DEC x ... NOV x+1 but the account schedule always defaults the calender year in the date filter field?

Here you expect to get the fiscal year defaulted as date filter, right?

It seems that BC does not offer an option yet to specify the "Fiscal Year"as an option for defaulting the date filter.

So you always have to change the date filter manually for now.

I agree that this could be enhanced.

The best way to get this changed on the long run is to create a suggestion in “ideas”, our product suggestion system, and collect votes for your suggestion from others.

As soon as a suggestion gets a certain number of votes from different customers/partners it will be promoted automatically and then discussed with partners in certain yammer groups.

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Hello,

The Ending Date question was from Dirk. Thank you for the images. On the Account Schedule you have View By Options you can select. If you want to see information based on Accounting Periods, you can select Accounting Period and then using the Matrix selection the next Accounting Period to view.

As for the Column Layout, you are using the Monthly Column Layout. To see the columns setup, in the Search box enter Column Layout. Then you can open/edit the Monthly one. I am not sure what your monthly looks like but here is my Month-YTD one:

Hope this helps.

Thanks,

Steve

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Rlau 65 on at

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Thanks Dirk.

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Rlau 65 on at

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Dear Steve

Thanks for the guideline.

I tried to view by Accounting Period for 2019/12/01 - 2020/11/30 but the displayed is still showing Jan-Dec.

As for the Column Layout, it doesn't seem familiar to me, where this layout should appear to ? Is it for Income Statement ?

Thanks again.

Rachel

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