Re: Fiscal year change

System 21 supports the use of "Alternate Year End" you may want to consider
should you use conventional System 21 financial reporting.  This is the
easiest.  

You can also create a new GL company (GL consolidation) in the proper
structure and consolidate data into it and report against that financial
entity.       

Finally, you can always create a new GL/CS company as well. 

Things to consider:
An "Alternate Period" could apply possibly to this situation as well.  There
are other calendars to consider: Accounting, Inventory Weekly, Production
and ?Sales Analysis?.

You must consider the impact to your historical ledger balances that are
period based as they (0610 <> 0710) won't equate to one another for
comparison purposes moving forward.  P/L and Retained Earnings will roll
after your YE close - you must consider the impact of this.      

Also, Cash, AR and AP maintain individual periods as well.  You would
include these in your 13th period.  You can use Alternate YE to report
against your old methodology (period 1-12).
   
I always suggest you create a test company to explore the impact to your
ledger and reporting if you choose other than Alternative YE method.  I have
retroactively converted ledgers before to a new method so it is possible but
it is not generally recommended.  You would be best to review this process
with your external auditors prior, as they will have a "field day" with this
one.             

Good Luck.  

-----Original Message-----
From: system21-bounces@xxxxxxxxxxxx [mailto:system21-bounces@xxxxxxxxxxxx]
On Behalf Of DThomas@xxxxxxxxxxxxxxxx
Sent: Tuesday, November 21, 2006 10:23 AM
To: SYSTEM21@xxxxxxxxxxxx
Subject: [SYSTEM21] Fiscal year change

We have gone from a Dec - Nov fiscal year to Jan - Dec.  When the year
started we were set up for 12 periods and year ending 11/30/06.  Now, I want
to go into G/L company profile maintenance and change our control to 13
periods.  In Inventory, I was going to add one week and have it be the full
month.  Should either of these changes create a problem?

 

Dan Thomas 
Vice President
RxCrossroads 
10350 Ormsby Park Place

Suite 500

Louisville, KY  40223
Office Direct (502) 213-1208 
Cell (502) 296-8045 
Fax (502) 318-1128 

 

 



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