Change in Financial Year

  • 23 February 2021
  • 2 replies

We have a running live environment for a couple of years now. 

Due to business ownership change and/or restructuring, the financial year for the company has changed.


Current: Jan to Dec - 13 periods (with period 13 as adjustment period)


The change:

The current Financial Year 2020 has increased to 18 months until June 2021 (i.e. Jan 2020 until Jun 2021).
After that, the Financial Year will be 13 periods again from July 2021 to Jun 2022…. and so on.


I need help on how can this be smoothly implemented.





2 replies

Hello Azhar,

if you do not have any transactions posted to year 2021 and you are not using the Fixed Assets and Deferred Revenue modules, use the steps below; otherwise, please file a support case for an assistance.

  1. Open the Master Financial Calendar (GL201000) form.
  2. Make sure that 2020 is the most recent financial year; delete the following years, if any.
  3. Select the User-Defined Periods check box to be able to modify the year; answer Yes in the Modify Financial Periods dialog.
  4. Delete the adjustment period and save the changes.
  5. Add the needed periods, specify the appropriate ending dates and descriptions for the periods.
  6. Save the year. In the Update Financial Year dialog, choose ‘Modify financial year settings’ and click OK.

You may want to review and update your ARM reports with regard to the changes in the financial periods.

Hi Olga,

Unfortunately, transactions for 2021 exist. And for fixed assets, yes, some of the assets’ period run into the next few decades (buildings, etc.).

So, i guess I will need to raise a support case for this then.



About Acumatica ERP system
Acumatica Cloud ERP provides the best business management solution for transforming your company to thrive in the new digital economy. Built on a future-proof platform with open architecture for rapid integrations, scalability, and ease of use, Acumatica delivers unparalleled value to small and midmarket organizations. Connected Business. Delivered.
© 2008 — 2020  Acumatica, Inc. All rights reserved