[John Stabler]

Is there a way to setup a 13^th period in GP for Audit Adjustments?  So I could run operational financials for periods 1 to 12 but if I need to run published financials I would run it for periods 1 to 13?

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John Stabler
Controller
ConsultNet LLC
South Jordan UT
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[Bert Green]

John,
Yes there is. Berger sets up 13 fiscal periods for each year. The key thing to remember though is that the last day in December is 12/30. So while you can date invoices and cash receipts, etc to 12/31 in the GL you will be posting them to 12/30. 12/31 becomes the 13th period.

If you have further questions let me know.

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Bert Green
GP Developer/GP Administrator
Berger Transfer & Storage, Inc.
Saint Paul MN
GP2015/MR CU11
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[Leslie Vail]

An alternative is to use 12/31 as the end date on both your 12th and 13th periods. The only trick here is that you need to ‘close’ the 12th period before the system will post the transaction in the 13th period. The system allows you to have periods with the same end date, but it will mark any transactions with that date to the first open period containing that date.
Kind regards,
Leslie

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Leslie Vail
Accounting Systems Consulting, Inc.
Dallas TX
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[John Steyer]

Leslie,

We are looking at adding a 13th period to our fiscal year sometime during the month of July to close the books due to an acquisition. So we would actually split July into two periods. What are some of the issues related to this? Such as Management reporter, etc.

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John Steyer
Program Manager – Corporate Applications
Ascend Learning, LLC
Leawood KS
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[Leslie Vail]

?Hi,
A couple of issues. Yes, you’ll need to adjust management reporter if you only want to include part of July. On the GL side, before you close the year, you will need to change your fiscal periods for the current year such that it ends in the middle of July. You’ll need to be careful to modify the periods so that the dates are right. When you change the fiscal year to, say, 7 months, it’s going to divide the dates evenly to fit in the whole year; you don’t want that. And, as a member already mentioned, you’ll need to run reconcile for the gl year to be sure everything is in the correct period.
The most troublesome part is that you have to advance the year to 2018. You can’t have 2017-1 and 2017-2. You’ve probably already worked this out by now, but I wanted to respond because you asked me the question.
Kind regards,
Leslie

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Leslie Vail
Accounting Systems Consulting, Inc.
Dallas TX
leslievail@earthlink.net 972-814-8550
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[Jeff Frye]

13 periods are used here in a couple of our companies.  Be aware that if you use Fixed Assets in GP it does complicate things related to period setup and Fixed Assets unwillingness to play nice with a 13th period in its calendar.  You will want to refrain from recreating your fixed asset calendar using the financial one.

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Jeff Frye
Systems Analyst
Hunt Brothers Pizza, LLC
Nashville TN
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[Todd Fisher]

For someone who wants to implement a 13th period for year-end audit adjustments, is this possible with a year that is already in use, or must this be set up prior to any transactions posting in that year?  We have steered clear of this previously due to being told 13 periods were not possible.  

We would ideally like to add period 13 from 2016 onward, but some info I see suggests 2018 would be the earliest opportunity we will have to do this.

Thoughts…

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Todd Fisher
Finance Manager
Central Arkansas Water
Little Rock AR
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[Bert Green]

Todd,

You can change it during the year. Just be aware that you will need to run the Reconcile routines on all of the modules that you use so GP can update the buckets that the amounts show up in.

Depending on your fiscal calendar I would leave 2016 alone. If you fiscal calendar ends 12/31 then I would probably make the switch for 2017 as we are just barely into the 2nd month.

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Bert Green
GP Developer/GP Administrator
Berger Transfer & Storage, Inc.
Saint Paul MN
GP2015/MR CU11
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[Todd Fisher]

As we think through the logistics of the 13th period a little more prior to moving forward for 2018, there is one question I’m not finding an answer to in the available knowledge bases.  

Our annual audit work each year typically occurs in late February sometimes crossing over to early March (12/31 fiscal year). We would need to hold the prior year open until conclusion of the audit in order to have the 13th period available for adjusting entries.  

Is there any way to get ‘interim’ balance forward numbers for the next year prior to closing the year under audit out in GP, or will we just have to manually factor in the current audit year pre-adjustment balances combined with Jan-Feb activity when reconciling balance sheet accounts early in the year prior to wrapping up all of the adjustments from the prior year?  My guess is the latter, but looking to the GPUG brain trust for confirmation or methods we aren’t seeing.

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Todd Fisher
Finance Manager
Central Arkansas Water
Little Rock AR
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[Bert Green]

There is an ISV product from Alba Spectrum called Balance Brought Forward, which will on GL Summary Screen show the ending balances as the beginning balances. They do have modified reports that work as well. However, this does not work for the Management Reporter reports.

The other item to keep in mind is that you can close the year and still do entries into the most recent closed year as long as you allow it and GP will do another closing on that entry and close out the P&L accounts and update the ending and beginning balances. I have not done this, but have seen many others suggest it.

I know what you are going through as Berger has the same thing going on. For Management Reporter I believe the controller is just updating the balances for the first couple of months.

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Bert Green
GP Developer/GP Administrator
Berger Transfer & Storage, Inc.
Saint Paul MN
GP2015/MR CU11
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[David Joosten]

Having tried the 13th period approach, I would say that it is not really worth the complication. All the automated closing entries in the GL are given a different source document and if you create a new source document to use with manual journals, you can easily identify the transactions for reporting anyway, so the benefit of a 13th period is very much reduced.
You will be able to close the year as soon as you finish your “regular” work and then just allow journals to prior year when they need to be posted later in the new financial year. These entries all automatically generated their own closing journals as they are posted. This only works to the prior year though.

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David Joosten
Enterprise Architect
Premier (Pty) Ltd
Waterfall City
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[Mike Zerr]

This is what I do, I don’t try to setup a 13th period or anything like that

Post all transactions to your year and do all your reconciles ect then CLOSE your year in Dynamics gp.

Then simply post your adjusting entries on the last day of the closed year.

You can very easy see the adjusting entries by looking at period 0 (bb) of the next year. You will see the first entry as your normal closing entry, then every other entry will be an adjusting entry.

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Mike Zerr
Application Consultant
DFC Consultants, Ltd.
Fargo ND
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