NAV 3.7 Inserting a new accounting period mid-year

dleroux

I may have missed the right search string here, but I did not see this situation covered. I have a client who has been acquired by another company. The deal goes into effect on 08/15. They would like to insert another accounting period into the fiscal year (currently monthly) - so that August will have two periods - one for the old owners through the 15th, and one for the new owners beginning on the 16th. I know this will not play well with budgeting, WIP, and recurring journals specifically.

Are there any other things I should explicitly warn them about? I am guessing they are mostly interested in financials on the 15th. I have a meeting with them later, and will know more then, but thought it best to see if anyone has dealt with a similar situation.

Thanks for any comments

Alex_Chow

Nope, accounting period will not affect anything other than when you try to close the income statement.

In regards to NAV, if you close your financial statement on the 15th, then if you try to close again on the 16th, only transactions on the 16th will be part of the income statement close.

dleroux

That is what I needed to know. The client will be happy with financials at that point in time. Those other pesky details for a single month are not of major concern to them in the "big picture".