RE: period/year closings

Greg, One way to handle this situation is to have three environments--not
two:

Use environment #1 for the Purchasing company. Use the Chart of Accounts to
enter the opening balances for the new company. Then you can operate on a
business as usual basis.

Use environment #2 to record the sale for the residual company in October.
Then close the company and run your reports.

Use environment #3 to handle the on-going activities of the residual
company. At some point you need to record the sale in this environment. You
can do this in October or you can opt for 13 period accounting and record
the sale in the 13th period.

Bob Tenney
Tenneypubs.com
828-526-3343 or 1-866-BTENNEY


> [Original Message]
> From: Greg Wenzloff <GWenzloff@beckmfg.com>
> To: mapics-l@midrange.com <mapics-l@midrange.com>
 > Date: 10/02/01 2:31:51 PM
> Subject: period/year closings
>
> Perhaps someone could offer some suggestions.    I am assisting a company
> that is being purchased.
> Only part of the company is being purchased -- the residual part will
become
> a separate entity.  Both companies will then run on the same MAPICS
business
> system for a significant time.
>
> The month of September has been closed in AR,IN, COM, and SA.     The sale
> will be in the middle of October.
> The new company's fiscal year starts October 1st.
>
> On the day of the sale a new environment will be created by the MAPICS
copy
> environment function. This will become the new entity.   The old
environment
> will be used for the purchased portion.  Certain items will be removed
from
> the Item Balance file in both environments but the rest will remain
> basically unchanged.
>
> Problems:   A period and year end close must be done to start the fiscal
> year of the purchasing company.  But then at the end of October we would
> need to close October but it has already been closed.   Can something be
> reset to get around this and what are the ramifications of doing that?
>
> In the residual company there needs to be a closing at mid October to
figure
> out the sale and to take care of accounting matters.    Then as business
> goes on - at the end of October we will again find that October has
already
> been closed.
>
> Any suggestions?
>
> Greg Wenzloff
> 717-762-9141x246
>
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--- Bob Tenney
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