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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Processing Two Year En...
Microsoft Dynamics GP (Archived)

Processing Two Year End Closing with the same year

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Posted on by Jen Lao

Hi,

I am trying to setup two Fiscal Periods with the same year.  We are trying to do two year end closing in year 2016 but in Fiscal Period Setup window, I cannot reuse 2016.  Here is the scenario.

* For the first year end, my fiscal period setup is:

- Year: 2016

- Number of Periods: 5

- First Day: January 1, 2016

- Last Day: May 31, 2016

- Period 1: January 1, 2016

- Period 2: February 1, 2016

- Period 3: March 1, 2016

- Period 4: April 1, 2016

- Period 5: May 1, 2016

* For the second year end, my fiscal period setup is:

- Year: 2017 (I am hoping that I can use 2016; example: 2016-b)

- Number of Periods: 7

- First Day: June 1, 2016

- Last Day: December 31, 2016

- Period 1: June 1, 2016

- Period 2: July 1, 2016

- Period 3: August 1, 2016

- Period 4: September 1, 2016

- Period 5: October 1, 2016

- Period 6: November 1, 2016

- Period 7: December 1, 2016

Can you process two year-end closing on the same year?  Please advice.

Regards,

Jennyline

*This post is locked for comments

  • Suggested answer
    twelvestrikes Profile Picture
    twelvestrikes 3,657 on at
    RE: Processing Two Year End Closing with the same year

    Hi Jen

    If I understand you correctly you want to have two short fiscal years within the same year name.

    I have seen this when a company gets sold and the old owners have the company for 5 months to use your example and the new owners maintain the fiscal year end so that they have 7 months for their fiscal year in the year they obtain the company and then subsequent years they keep the same 12 month fiscal year end.

    Dynamics GP does not allow you have the same year used more than once nor does it allow you to use another character such as naming it 2016A or 2016B. 

    The solution is to recreate your fiscal calendars going back to the beginning and renaming the years so that you would get something like this:

    2012       January  1  2013   to  December  31 2013    # periods  12

    2013       January 1  2014    to  December  31  2014   # periods  12

    2014       January 1 2015      to  December 31   2015   # periods  12

    2015       January 1  2016      to May 31 2016   # periods  5

    2016       June  1                     to December 31 2016  # periods  7

    I opt to use the 2016 for the correction year so that going forward the next year would be in line

    2017     January 1 2017      to December 31  2017  # periods  12

    Here is a KB that will help you rebuild your fiscal calendar:  KB871789.

    The PSTL also has a utility that you can use to rebuild the fiscal calendar

    I can't stress enough that you should try this out in a test company first to ensure it works and don't forget to run the GL reconcile process on each year starting from the beginning.

  • Suggested answer
    Heather Roggeveen Profile Picture
    Heather Roggeveen 9,144 on at
    RE: Processing Two Year End Closing with the same year

    Hi

    You certainly cannot do it in a single company database.

    The only other possible work around I can think of is to take a copy of the database once you are ready to do the first year end roll, restore it into a copy database and complete the first year end processes and reporting there.  Then in your main database continue on as if that year end wasn't happening and do the normal year end close at the end of the year.

    It would mean a bit of juggling with reporting, but it could possibly be done.  Without knowing all the details, it is hard to say.

    Cheers

    Heather

  • Jen Lao Profile Picture
    Jen Lao on at
    RE: Processing Two Year End Closing with the same year

    Finance just inform me that they are planning to have two year end process this year in 2016.  Right now, I am just checking if someone was able to do the scenario that I mentioned above.

  • Heather Roggeveen Profile Picture
    Heather Roggeveen 9,144 on at
    RE: Processing Two Year End Closing with the same year

    Hi Jen

    No you can't use the same Fiscal Year twice.

    What is the purpose of the two short periods?  Maybe if you let us know the business case for what you are doing, there may be some other suggestions the forum can make.

    Cheers

    Heather

  • Suggested answer
    babubaskaran@outlook.com Profile Picture
    babubaskaran@outloo... on at
    RE: Processing Two Year End Closing with the same year

    Hi Jenny,

    since you create these 2 years as a separate fiscal period you will be able to close them separately.  

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