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Evo-ERP and DBA Classic >> Accounting >> Change our current fiscal start-end period
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Message started by __DCB__ on 10/12/05 at 07:44:02

Title: Change our current fiscal start-end period
Post by __DCB__ on 10/12/05 at 07:44:02

Hi!!

Our company needs to change our current fiscal start-end period. we are currently using the period of 01/01/05-12/31/05, and our present need is to change it to the period of 10/01/05-09/30/06.

So my question is, can such a change be possible with DBA classic (currently running version 2004.1) and if so, what needs to be done and what are the consequences of such a change.

Thank you in advance for your precious suggestions.

Daniel

Title: Re: Change our current fiscal start-end period
Post by Lynn Pantic on 10/12/05 at 09:59:24

Yes, it can be done. Since it is already 10/12 I will assume you have already processed activity in October. Go to AD-A and change the fiscal year to 10/1/05. Ignore the messages telling you not to do that. Then UT-K-D and carefully enter the Fiscal Year dates reflecting the short year for 1 year past. Finally, UT-A, GLEREDO and again, be careful that you enter the dates correctly.

Title: Re: Change our current fiscal start-end period
Post by D@B on 11/08/05 at 05:55:11

Thank you for the how-to. We are now prepare to do the change, but we have a small question before proceeding:

Since we decided to change our fiscal year from Jan to Sept (versus Jan to Dec), when doing UT-K-D, will this affect our GL Accounts of past years i.e. will "2004" still be from Jan to Dec 2004 and "2003" still be from Jan 2003 to Dec 2003 or will it recalculate my GL from Jan 2004 to Sept 2004?

[AM-B Fiscal Year End Routine] tells me that if we decide to change our fiscal year, this will affect our previous years.

Once we change our fiscal start-end dates, we want to proceed with the AM-B module, will it be safe for us to do so?

Thank you again in advance,

Daniel

Title: Re: Change our current fiscal start-end period
Post by Lynn Pantic on 11/08/05 at 07:47:18

Follow the instructions given. Enter the proper dates for the prior years so that the current year starts 10/1/05, 1 year past starts 1/1/05 and 2 years past starts 1/1/04 and all the buckets will be distributed properly. There is no need to run AM-B in this scenario, the GLEREDO will take care of it.

Title: Re: Change our current fiscal start-end period
Post by __DCB__ on 11/11/05 at 08:11:03

Well, we have finally done the change and most of it all went fine, thank you very much for the big help.

What is different from before is the following:

When printing a Trial Balance (TB) for the new period (from 01/01/05 to 09/30/05), without the Year-End (YE) entry, the beginning balance for the Revenues & Expenses, which should all be at zero, shows amounts from the ending balance of the last fiscal year.

How can this be corrected?

Take note all beginning balance for G/L accounts related to the Balance Sheet are okay.

Again, thank you in advance,

Daniel

Title: Re: Change our current fiscal start-end period
Post by __DCB__ on 11/15/05 at 06:33:05

I forgot to mention that if we insert the dates from 10/01/05 to today (our new fiscal year start date), the TB (without the YE entry) shows all zeros in the begining balance, as it should be.

Why does this not work with past fiscal year.

A solution would be greatly appreciated since we are audited next week.

Thank you,

Daniel

Title: Re: Change our current fiscal start-end period
Post by Lynn Pantic on 11/15/05 at 08:21:36

Try UT-A, GLEREDO again and be careful with the dates. Then make sure you go to GL-O and post all the YE entries that are created.

Title: Re: Change our current fiscal start-end period
Post by __DCB__ on 11/15/05 at 12:52:05

I did UT-A, GLEREDO again and was careful with the dates. I Then posted the YE entries using GL-O, but we still have the same problem:

The beginning balance now should be set to zero, but instead we have the past twelve monthes YE in the beginning balance of the Summary view, as well, we also have the past three monthes in the beginning balance of the Detailled view.

Not only, the beginning balance is not set to zero, but both the Summary and the Detailled Views do not match each other.

What else can be done?

Thank you again in helping me in this venture,

Daniel

Title: Re: Change our current fiscal start-end period
Post by Lynn Pantic on 11/15/05 at 14:28:29

Are you saying Y or N to include the YE entries when running GL-E?

Title: Re: Change our current fiscal start-end period
Post by __DCB__ on 11/16/05 at 11:39:37

We are saying "N" to include YE.

An other thing: All of my fiscal years are now from 10\01\YY to 09\30\YY.

DBA does not recognize that my current and pas fiscal years should be as follow:

Current: 10\01\05 to 09\30\06
Past yr1: 01\01\05 to 09\30\05
Past yr2: 01\01\04 to 12\31\04

Daniel

Title: Re: Change our current fiscal start-end period
Post by Lynn Pantic on 11/16/05 at 12:42:13

You must have entered the wrong dates in UT-K-D. Does GL-A show some empty months in 1 year past confirming the short year?

Title: Re: Change our current fiscal start-end period
Post by __DCB__ on 11/17/05 at 07:22:23

The dates entered in the UT-K-D last week were as follow: (The Accounting Manager was with me to make sure I entered the right dates)

Current: 10/01/05
Last year: 01/01/05
2 years ago: 01/01/04

I suggested, I verified GL-A, and the "view Chart of Accounts" confirms the dates above as it should be.

Out of curiosity, I went back to UT-K-D to see what the dates were and to my surprise, they were as follow:

Current: 10/01/06
Last year: 10/01/05
2 years ago: 10/01/04

I then created a test company and have done an other UT-K-D with the right start dates. I still have a problem the same problem with my DTB. I then, after, verified if the dates were as input (in UT-K-D), and they were not. It was back to:

Current: 10/01/06
Last year: 10/01/05
2 years ago: 10/01/04

Is it possible that DBA does not accept an initial short year?

Thank you again for your help.

Daniel

Title: Re: Change our current fiscal start-end period
Post by __DCB__ on 11/17/05 at 11:28:05

::) :-/ Oups! Little error in my dates on my last text, we should read:

The dates entered in the UT-K-D last week were as follow: (The Accounting Manager was with me to make sure I entered the right dates)

Current: 10/01/05
Last year: 01/01/05
2 years ago: 01/01/04

As suggested, I verified GL-A, and the "view Chart of Accounts" confirms the dates above as it should be.

Out of curiosity, I went back to UT-K-D to see what the dates were and to my surprise, they were as follow:

Current: 10/01/05
Last year: 10/01/04
2 years ago: 10/01/03

I then created a test company and have done an other UT-K-D with the right start dates. I still have a problem the same problem with my DTB. I then, after, verified if the dates were as input (in UT-K-D), and they were not. It was back to:

Current: 10/01/05
Last year: 10/01/04
2 years ago: 10/01/03

Is it possible that DBA does not accept an initial short year?

Thank you again for your help.

Daniel

Title: Re: Change our current fiscal start-end period
Post by __DCB__ on 11/21/05 at 09:43:57

Hi!!

Any luck in finding a solution or a way around to this problem?

Thank you,

Daniel

Title: Re: Change our current fiscal start-end period
Post by __DCB__ on 12/01/05 at 06:52:09

Hello Lynn,

Is a solution feasible to our problem? Or is it something that will require a technical call either to DBA or IsTech to fix it?

An answer would be greatly appreciated.

:)

Thank you,

Title: Re: Change our current fiscal start-end period
Post by Lynn Pantic on 12/01/05 at 07:32:17

I don't really understand what you are describing when you say you want back to UT-K-D and the dates were different. UT-K-D doesn't save any dates, it always calculates based on a calendar year from the current fiscal year start date so if you have a short year you always need to reset them in UT-K-D but once they are recalculated, you should have the transactions totalled in the correct periods.

I will call you, we are not communicating somehow.