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[Alexis Barrios]

Hi All

I need to change ledger calendar for an entity I am handling.

Actually it is set 4 4 5 

For government regulations, need to change it to natural calendar dates, starting July 1st, ending June 30th following year

I am wondering if I can do it whit no recalculating the historical periods, meaning change taking place from July 1st forward??

I will appreciate your comments.

Regards,

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Alexis Barrios
Fyffes Group Ltd
Pompano Beach FL
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[Juan Sebastian Grijalba]

Hello,

I believe this is not possible, once you change the calendar the system will ask to re-calculate historical periods which will change data in the general journal table. Even if it was possible this will probably cause data incongruities between opening balances, or they will not rollover properly. Postings from open PO’s, open sales orders, reversing entries will not post properly. I could think of many reasons why this will be a headache.  If this seems to be a government requirement I will look into creating a new legal entity with the new ledger calendar.

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Juan Sebastian Grijalba
Berkowitz Pollack Brant
Miami
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[Shirley Adams]

Hi Alexis, 

You can create your new year starting July 1st, 2020 to June 30, 2021.  This would be your FY 2021 (and I would assume your current FY 2020 year would run from the beginning of the current 4-4-5 year to June 30, 2020).  When you do that, you are not doing anything to the existing transactions or years, but will impact future periods only.  There are going to be some issues with financial reporter as it will be very confused when trying to look at comparative – you’ll basically want any inquiries that cross years to be date driven.

I can’t speak to any retail or manufacturing calendar issues (or any of the other areas that use calendars, like project and workflow, etc,), so I would definitely recommend trying this in a test environment first and running your business end-to-end before you do this in your production environment.

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Shirley Adams
Solution Architect
AKA Enterprise Solutions
New York NY
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[Missy Martoncik]

Alexis,

If July 1 to June 30 is the normal fiscal year, as Shirley recommended, I would create a new fiscal calendar based on the calendar months.  I also recommend doing this in a test environment to make sure you are getting the desired results.

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Missy Martoncik
Senior Finance Consultant
AXIA Consulting, Inc.
Columbus
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