Is 15 month Fiscal Year possible

[marsmanhunter]

We were just bought out by another company. Our current Fiscal Year would run from Oct 01,2006 to Sept 31, 2007, but the new company needs us to change the end date to Dec 31, 2007. Our Fiscal Year and periods are already set up and we have been working with them for close to a year. Is it possible to reset the current Fiscal Year to end on Dec 31, 2007, which would be a 15 month fiscal year? For 2008, our Fiscal Year would simply match the calendar year.
Thanks for any help you can give me.

 

[VictoriaYudin]

Absolutely, we've done this for several customers in the past with no problems. Here are the steps I would take:

1) get everyone out of GP (or at least that company)

2) make a backup

3) go to Tools > Setup > Company > Fiscal Periods and make the changes to 2007...when you finish it will pop up a message about reconciling GL, Payables and Receivables...the GL is the critical one, up to you on the Payables and Receivables, shouldn't really be a big deal, since you're only adding months to the end

4) to reconcile the GL go to Tools > Utilities > Financial > Reconcile, choose Year, Open and 2007, click Reconcile

Hope that helps.

Victoria
Flexible Solutions, Inc.