Previous Fiscal Year

[iwells]

Somewhere along the way I created a company database, some setup and etc and now need the current fiscal year to be the previous fiscal year OR need to be able to post some balances to the final period of the previous fiscal year, but when i create the previous fiscal year the accounts haven't been created in GLAFS and I'm wondering if there's a way to do this.

Basically they said the fiscal calendar was the same as our company fiscal calendar, which is different than the calendar year , but then they changed their mind so that's messing up when I'm trying to bring the opening balances in as of. I want to bring them in for period 12 of the previous year, but if I don't have an option I'll just bring them in for period 1 since there isn't enough value in exporting the setup and etc and doing this all over again.

 

[ettienne]

Look in GL Setup, Options, Posting.
What is:
- Current Fiscal Year
- Oldest Year of Fiscal Sets
- Oldest Year of Transaction Detail

Sage 300 Certified Consultant

 

[iwells]

its 2016, i need it to be 2015 (the year the accounts arent' created for) ... innitially they changed the setup from our fiscal calender to the calendar year (our fiscal is 2017)

 

[ettienne]

Just an FYI... it is SOP when setting up a new company to open it in the prior year, not the current year, so that you can enter beginning balances in period 12 of the prior year. Beginning balances are not entered in period 1 of the current year - this messed up the accounting results in period 1.

Sage 300 Certified Consultant

 

[ettienne]

What about the other 2 I asked about?

Sage 300 Certified Consultant

 

[iwells]

All are set at 2016.

Oh yea, I'm aware of how that works, but in reality its not huge difference to bring balances in mid-year or thing like that, but it's not as clean.

What happened was our current fiscal is 2017, so it created 2016, but they then decided to switch from our fiscal to calendar so 2016 is there, but now I need 2015.

 

[Jay Converse]

Start over

 

[ettienne]

Start over

Sage 300 Certified Consultant

 

[francis2299]

I had the same problem what I did was to create afresh

 

[iwells]

Yea, in the end that's what I did too.