Change to year-end (change in control)
Has anyone run across the need to make a change to fiscal year-end? Due to a change in control (ie ownership), we have the opportunity to change our fiscal year-end. The plan is to change from up-coming April year-end to December. As a result, will have 2 year-ends in 2018 with only 8 periods in upcoming year. Expecting we will need to roll forward the year-end in Acumatica next month regardless, then deal with the fact that the year will only be 8 periods. Thanks for any thoughts.
I can't think of a way to do this, but you could just start a new company file, import Chart of Accounts, Customers, Vendors, Opening Balances, etc.
OK, thanks Tim. Is it fair to suggest this could be done either now (start of short year), or at change in control "year-end". Know our VAR is also reaching out to Acumatica for suggestions but starting new company(ies) seems like considerable work-around to effect the change.
Tim, I tried every way I could think of to manually create a short year and modify the year ID to add an A for a second fiscal year definition in the same calendar year, all without success. I'm stumped.
When you get an answer, please post it here. I would love to know the answer. (Did you see the movie, "The Accountant"? I'm like the little boy who can't find the last piece of the puzzle!)
I think to create a short year, you need to go to financial periods and click the user-defined box. This will allow you to delete the periods after your new year end. When you click save, it brings up a box asking if you are modifying the financial year settings or want to extend to last period. When you generate a new financial year your periods will be shifted.
Thanks Lindsay. So in example mentioned, I am interpreting that we could perform the above procedure any time between May and December.
Yes, I believe so.
Afraid we are still working through this issue. Based on our discussions, I suspect the pitfall in this proposed solution is that the May-Dec/2018 period will be considered to be the 2019 year (as it was originally expected to have finished Apr-2019). Even if we deleted the last 4 periods (Jan-Apr), then closed the year, the next year (jan-Dec/2019) would likely be considered by the system to be the 2020 year (as 2019 will already have been used). As a result, fiscal year would be ahead of calendar by a full year. I understand the 2 proposed solutions are to either start brand new companies (4 in all), or to program sequel to re-label the historic periods to align to new fiscal year-end.
Did you try copying your Production environment to a Test environment and performing the suggested change to confirm your suspicions? Maybe you'll get lucky 🙂
I have a client who has 10 months of posted transactions (Finance and Distribution modules. They want to change the posted transaction posting period.
User Defined only works from where there are no transactions into the future.
Is there a script to change the many tables FinPeriod ID's
I agree with Tim. If i were faced with this, I would be doing a new Tenant and converting over existing data. Messing around with the calendars is just going to create problems.
I don't know of a script personally, but maybe someone else out there has one. I'd be nervous though about using it unless it came directly from Acumatica.
I was hoping someone had a resolution to this. How about if we extend the fiscal year to beyond 12 months.
I am facing a similar issue where our fiscal year end is moving from July to September. I think we can just extend to 14 periods for the current (transition) year, and then return to 12 periods going forward. Perhaps that might work?