Error: Fiscal Year does not exist

Horse06

Urgent! I tried to close the fiscal year and it pops up an error 'The fiscal year does not exist'. Acutally I have created the 12 months in the accounting periods. Any Suggestions? Thanks!!!!

Horse06

If I checked the month of January 2008 box in Accounting Periods, the error is The fiscal year must be closed before the income statment can be closed. But if I uncheked the box, it says The fiscal year does not exist. Does anyone have any idea? We have done the closing before and no errors. Please help!!!!

Horse06

Solved! I figured it out!

ssingla

Can you post the solution so other can get help.

Tomas

I think you have to have a new fiscal year, before closing previous one.

cokamaksimovic

Dear all,

I have the same error message except that mine happens once I run the close income statement report.
I have closed fiscal year 01/01/10..31/12/10 and tried to close the income statement, but i keep getting this error Fiscal year does not exist ](*,)

Anybody ever had this problem when running the close income statement ?

thanx

cokamaksimovic

cokamaksimovic wrote:

Dear all,

I have the same error message except that mine happens once I run the close income statement report.
I have closed fiscal year 01/01/10..31/12/10 and tried to close the income statement, but i keep getting this error Fiscal year does not exist ](*,)

Anybody ever had this problem when running the close income statement ?

thanx

ok, so let me reply to my own message.

basicly I "solved" the problem by doing the following:

1. I opened the fiscal year of 2009
1.1. I closed the fiscal year of 2009
2. I opened the fiscal year of 2010
2.1. I closed the fiscal year of 2010
3. I opened the fiscal year of 2011

After this I ran the Close Income Statement report - and didn't get the error message again.

I am clueless about why this has to be done :-# , but at least it solved my problem.