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Dynamics 365 Community / Forums / Finance | Project Operations, Human Resources, ... / Professional Service T...
Finance | Project Operations, Human Resources, ...
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Professional Service Tools Fiscal Period Modifier and Fixed Assets

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Posted on by Shirley McCutcheon 163

A client currently has a Fiscal Year of 11/1 to 10/31.  They want to switch to a calendar year as of 01/01/2020.  Their 11/1/2018 to 10/31/2019 year is labelled 2019.  They want to create a short year for 11/1/2019 to 1231/2019 which would end up being labelled 2020.  Then the next year will be their first calendar year called 2021.   They hae Fixed Assets and have depreciated through 10/31/20.  They are wanting to use the Fiscal Period Modifier to change the year labels so that the  first calendar year is 2020.  I don't know what that does to the labels for their Fixed Asset years or how to adjust their Fixed Asset years since they have depreciated do far past the short year.   Anyone have any suggestions or help?

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Microsoft Dynamics GP
  • Leng Papio Profile Picture
    Leng Papio 855 on at
    RE: Professional Service Tools Fiscal Period Modifier and Fixed Assets

    I understand.. but technically, you only have 2 choices.. leave the FA calendar as it is  (and probably modify your reports on the FA info)  or recreate it as soon as you are done recreating your company fiscal periods.

    your financial reports will pull data from GL, which is date specific...

    so I think, the labels are the least of your problems since when you recreate the fa calendar, it will affect future computations on the depreciation of the assets...

    perhaps, you can test the changes first on a test server with a copy of the prod data - and then check your financial reports, and decide then if you will want to modify the FA calendar to copy your new company years.

    i am sorry, i can't give you a more specific answer... unless i test the scenarios myself.

    i suggest you postpone implementing the changes in prod until you are satisfied with the results on the test.

  • Shirley McCutcheon Profile Picture
    Shirley McCutcheon 163 on at
    RE: Professional Service Tools Fiscal Period Modifier and Fixed Assets

    Thank you very much but I was wondering about the labeling of the Fixed Asset year in the Books as those would not match the label of the company Fiscal years.  It seems it would be a little confusing to have your 2020 fiscal year be called the 2021 year in Fixed Assets.  We were definitely planning on doing this in a test company before attempting anything in their production company.

  • Leng Papio Profile Picture
    Leng Papio 855 on at
    RE: Professional Service Tools Fiscal Period Modifier and Fixed Assets

    FA has a separate calendar (which means it is not changed if the current company fiscal years are modified in any way). The FA calendar gets created based on the current existing company calendar, but after that, it is no longer depended to the company calendar.

    If you need to recreate the FA calendar based on an old company calendar configuration, one way to do it is:

    1. Make a backup of the company and make sure no one will be doing transactions

    2. delete the SY40100 and SY40101, then recreate the old configuration.

    3. rebuild the FA calendar

    4. delete the sy40100 and 101 again, and restore those tables from the backup or recreate the company years again.. *although it may be a challenge on this part if the company has several years already ...

    another thing to consider.. if you have historical plugged in amounts.. after recreating the company fiscal periods, you will be asked to run reconcile the years to recalculate summary info of detailed transactions..

    *yeah.. a lot of work...

    you may want to do the process in a test server first or something...

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