Extend a fiscal year

Victor_Hugo

Dear all,

Is it possible to extend a fiscal year in the system (especially after it’s already in use)? See the following scenario:

I have a NAV 4.0 SP3 database with a current accounting period that goes from 04/01/2011 to 03/31/2012.

The accounting manager now tells me that she received a request from our parent company to change the fiscal period from our standard “April to March” to a “July to June” basis but to accomplish such a change she wants to extend the current fiscal year till June so that after the end of this period we can create the new fiscal year from July to June.

To achieve that I have executed some simple steps in a testing database:

1) Unchecked the “New Fiscal Year” option in the first month of the next period (April 2012)

2) Created a new period of two months (May / June 2012) to be added to the current period and then unchecked the "New Fiscal Year" option also in June so that now I have a 15 months period.

With that done I posted some transactions to the income / expense accounts in May / June 2012 and then performed a year closure successfully.

My concern is if this procedure may generate problems in any part of the system that may use the fiscal year for any task I am not aware of. Does anyone have any experience with that?

Thanks!!!

marcoau18

Victor Hugo wrote:

Dear all,

Is it possible to extend a fiscal year in the system (especially after it’s already in use)? See the following scenario:

I have a NAV 4.0 SP3 database with a current accounting period that goes from 04/01/2011 to 03/31/2012.

The accounting manager now tells me that she received a request from our parent company to change the fiscal period from our standard “April to March” to a “July to June” basis but to accomplish such a change she wants to extend the current fiscal year till June so that after the end of this period we can create the new fiscal year from July to June.

To achieve that I have executed some simple steps in a testing database:

1) Unchecked the “New Fiscal Year” option in the first month of the next period (April 2012)

2) Created a new period of two months (May / June 2012) to be added to the current period and then unchecked the "New Fiscal Year" option also in June so that now I have a 15 months period.

With that done I posted some transactions to the income / expense accounts in May / June 2012 and then performed a year closure successfully.

My concern is if this procedure may generate problems in any part of the system that may use the fiscal year for any task I am not aware of. Does anyone have any experience with that?

Thanks!!!

I have tried the same flow before when wrongly create the fiscal year

No special effect on modules up to now. :P

ssingla

You cannot change "New Fiscal Year" field from the form so I assume you have done it directly in the table.

Though not recommended I have done it some times (when myself or a junior screws up in setting it correctly) and rest assured you will not face any problem (except if your country localization have something to do with it).

Victor_Hugo

ssingla wrote:

You cannot change "New Fiscal Year" field from the form so I assume you have done it directly in the table.

Hello ssingla,

Well, actually I edited this field from the form. I'm not aware of any customizations we have that might affect this form but maybe it has been modified in our localization.

Anyway, many thanks for your response. I did some extra tests and didn't find any problem in doing that as well. I'm replicating the changes to our actual DB.

Thanks to everybody for your replies!!!