ISTech Support Forum - PERIOD END CLOSE DATE

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PERIOD END CLOSE DATE (Read 776 times)

DSWAZE

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PERIOD END CLOSE DATE
11/17/03 at 16:07:04

We are currently running two companies in DBA.
Company A -
current yr 01/01/03 - 12/31/03
last yr 01/01/02 - 12/31/02
2 yrs 01/01/01 - 12/31/01

Company B - is currently set the same, but needs to be changed to the following
current yr 03/10/03 - 12/31/03.

Can you have different dates for different companies?

What will happen to any transactions dated prior to 3/10/03 in company B.

Thanks for your help.

Doreen

Doreen Swaze
Choose Manufacturing Co LLC

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Lynn_Pantic Administrator evolution (n) - gradual change to a different form Posts: 5681	Re: PERIOD END CLOSE DATE Reply #1 - 11/17/03 at 17:17:51 You can have different fiscal years in different companies but DBA doesn't like a fiscal year starting on anything other that the first day of a calendar month. Why 3/10???
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DSWAZE Browser Posts: 36 Gender:	Re: PERIOD END CLOSE DATE Reply #2 - 11/18/03 at 06:37:28 I believe this is the date Company A, purchased Company B. Even though DBA doesn't like it, will it work, using 3/10? Thanks, Doreen
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Lynn_Pantic

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evolution (n) -
gradual change to a
different form

Posts: 5681

Re: PERIOD END CLOSE DATE
Reply #3 - 11/18/03 at 07:05:29

If Company B was purchased 3/10 then from the standpoint of the books of the new owner, the fiscal year is still 1/1/03-12/31/03 but there is no transaction activity prior to 3/10 because all that activity belonged to the prior owner. There would be some entries made 3/10 relating to the purchase, you should consult with your CPA or business advisor.

Lynn Pantic
IS Tech Support
lynn@istechsupport.com

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