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Evo-ERP and DBA Classic >> Accounting >> 5-4-4 Accounting Cycle
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Message started by alphapkg on 11/22/04 at 07:58:12

Title: 5-4-4 Accounting Cycle
Post by alphapkg on 11/22/04 at 07:58:12

Does DBA/Evolution have ability to run closing cycles that pertain to a monthly accounting closing of 5-4-4 versus calendar month-end dates?

If so, how do you do you set this up? Will DBA / Evo accept this type of accounting cycle?

Jim Smith
Alpha Packaging

Title: Re: 5-4-4 Accounting Cycle
Post by aricon on 11/22/04 at 11:02:53

No.

Title: Re: 5-4-4 Accounting Cycle
Post by Lynn Pantic on 11/22/04 at 18:53:35

Well that was a short and sweet (or sour?) answer, Lorne... ;-)

There is an add-on available from IS Tech that enables user defined periods. The periods are defined in a stand-alone program, then the GL-O posting uses those periods to update the period subtotals. Jim, contact me if you are interested, I forgot to mention it when we spoke today about Evo.

Title: Re: 5-4-4 Accounting Cycle
Post by aricon on 11/22/04 at 20:35:07

Well, in retrospect, Lynn was right. Guess that WAS a bit short. Sorry Jim.

Should have said that it wasn't possible in standard DBA. Sorry about that.

Title: .Re: 5-4-4 Accounting Cycle
Post by alphadave on 11/29/04 at 08:42:47

Lynn---I work with Jim---
I assume the standard financial reports will work-how do you define in GL-F what is the correct cutoff for the month?
Is there anything that occurs differently at the end of each "month"?
Is there any difficulty at the end (or beginning) of the year due to the cutoff? Is AM-A handled differently?

Thanks

Dave

Title: Re: 5-4-4 Accounting Cycle
Post by Lynn Pantic on 11/29/04 at 14:01:19

If you purchase the 4-4-5 add-on, then you first go into a special program and define the dates for all your posting periods. Once those dates are defined, GL-O (the special version provided with the add-on program) will post everything to the appropriate period. Special versions of the financial statement programs are also provided to allow changes to the period titles since they are no longer calendar months. AM-A requires nothing special, you can enter any date there that you want.

Title: Re: 5-4-4 Accounting Cycle
Post by alphadave on 12/16/04 at 06:04:18

Lynn
We have a few more questions prior to implementation--

We don't want to change our 2004 and prior accounting periods to 4-4-5 for a variety of reasons-we would like to keep them as calendar months.
We would like to switch over in January after we close 2004 (around the 15th?). When we apply the patch and set up the periods, we are planning to put in the dates for the 2 prior years as the actual calendar months( so we don't change the existing financial data and reports we have) but put in the 4-4-5 months for 2005.
If we do this, will GL-F be OK? Will it be smart enough to compare a 2004 calendar month with a 2005 4-4-5 month?
Also, we enter budget info for comparison purposes with our income statements. Is there any changes to this process?

Title: Re: 5-4-4 Accounting Cycle
Post by Lynn Pantic on 12/16/04 at 07:01:54

GL-F will compare period 1 of 2004 to period 1 of 2005. If you have defined the dates so that period 1 of 2004 is 1/1/04-1/31/04 and period 1 of 2005 is 1/1/05-1/28/05 then those are the periods that will be compared.

Budget process is unchanged.