Change Fiscal Year Periods

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Expand/Collapse item  Overview

The current fiscal year is set up in the General Ledger Setup Wizard for new companies; however, the General Ledger module allows you to change your fiscal year accounting periods after you start using the system. Accounting period changes should be performed at the end of the fiscal year; however, you can change periods at any time.

Expand/Collapse item  Before You Begin

  • Back up your data prior to changing accounting periods.

 

To change fiscal year periods

  1. Select General Ledger Setup menu > Fiscal Year Maintenance.

  2. In the Fiscal Year field, select the fiscal year to change period-end dates for. For more information, see Fiscal Year Maintenance - Fields.

  3. Change the established period-end dates as necessary by clicking the Calendar button for a period in the Ending Date field and selecting an ending date.

  4. If the Period 1 ending date is changed, click the Calculate Dates button to recalculate the ending dates for subsequent periods.

  5. Click Accept. A message appears indicating that you changed the accounting periods.

  6. Click Yes to change the accounting dates and to recalculate the general ledger summary information.

The new start and end dates are saved for the fiscal year. All period activity information is recalculated using the new period-end dates.