Does MAS 90 take into account stub periods

[chuckwick]

We are using MAS 90 and we have started a new company; How do we take into account for a stub period. That is, I wish to know how to calculate my periods based on one period being the year end and will the subsequent periods be recalculated.
For example, MAS 90 asks us to input our fiscal year, for example sake January to December. But because of the stub period we now need February to January as the fiscal year for the remaining years to come.

 

[CsaintAZ]

This depends on whether the new company is just starting and has a fiscal year ending in January, or it is an existing company where the current year end is a calendar year end and you are converting to a fiscal year end for tax purposes or some other reason.

If you are just starting the company and it has a fiscal year-end of Jan 31, 2004, Your fiscal year 2003 should start in Feb. 2003, and end in Jan. 2004. MAS90 will accomodate this on a company by company basis.

If this is not a startup, talk to your CPA firm about how they will be handling the "Short Year" (Stub Year) and you will then need to structure MAS90 in a similar way.

MAS90 can recalculate periods based on your GL5 file, but the coordination of the change can get a little tricky when you are changing mid-stream. If this is not a startup as far as MAS90 is concerned, please provide the details of present and future years that are in MAS90 for this company and I can give you more detail on how to proceed.