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Well, all's well that ends well... before it even starts. Our accountants
have talked with the accountants at our parent company and decided that we
don't need to do an extra period-end after all. I suppose that's because
it's the parent that's being sold, not us. Also, the parent only owns 50%
of us. The other 50% is owned by a Japanese company.
Thanks to everybody for the comments and advice. At least the next time
that they get sold I'll be ready. :)
Dave Parnin
Nishikawa Standard Company
Topeka, IN 46571
daparnin@xxxxxxxxxxxxxxxxxx
Tom Jedrzejewicz <tomjedrz@xxxxxxxxx>
Sent by: To:
"SSA's BPCS ERP System"
bpcs-l-bounces+daparnin=cooperstandard.com@m
<bpcs-l@xxxxxxxxxxxx>@SMTP@CTB
idrange.com cc:
(bcc: David A Parnin/Topeka/NISCO/SPCO)
Subject: Re: [BPCS-L] An Extra Period
12/15/2004 04:36 PM
Please respond to "SSA's BPCS ERP System"
<bpcs-l@xxxxxxxxxxxx>
On Wed, 15 Dec 2004 09:59:30 -0500, daparnin@xxxxxxxxxxxxxxxxxx
<daparnin@xxxxxxxxxxxxxxxxxx> wrote:
>
> Good morning,
>
> It seems that I've got an unusual situation fast approaching. Our parent
> company has been sold and the sale will be finalized on Dec. 23. Because
> of this I'm told that we will need to do a period-end on that day in
> addition to the normal monthly period-end. That would give us 13 periods
> this year instead of just 12. Next year we would be back to 12 periods.
I doubt that whoever told you to do that really understands the
ramifications. I suggest that you find out the requirements, and then
work with them to find the best solution. Adding a period probably
isn't it.
An example from my experience . . .
By the most strick accounting, sales are not really sales until the
customer takes ownership. For many of our customers, this is not
until delivery. So, in the wake of Enron, management decided a couple
of years ago that we needed to do year-end for sales on the 24-th of
December. After several frustrating days trying to figure out how to
do this, I went back and asked what they were trying to accomplish.
It turns out that all they needed was a report of FOB customer
shipments from 24-31 Dec, so that they could accrue sales and cost of
sales, and not overstate sales by those shipments.
I would bet money that your situation could be accomplished by
reporting, and perhaps a physical inventory. Perhaps you will need to
copy the inventory, AP, AR, PO and GL files into another library, or
run some snapshot reports, or develop some reports to back out
transactions 23-31 Dec from key accounts. Perhaps you duplicate your
production environment into a test environment on 23-Dec and run the
monthend and leave production alone.
Good luck.
--
Tom Jedrzejewicz
tomjedrz@xxxxxxxxx
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