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Changing Financial Periods

  • 21 December 2022
  • 8 replies
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Userlevel 4
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Hello all,

Looking to see if it is possible to change future financial periods. Currently our Financial year runs from April - March and that is how the system is configured. One small change we would like to make is the financial year naming. ie currently in the system we are financial year 2022 with monthly periods running from 4/1/2022 - 3/31/2023. For these periods we would actually say this would be financial year 2023. we use FYE (financial year ending) 2023 for the year we are currently in, but acumatica is set up as year 2022. Understanding I likely can’t do much for current and past periods I was wanting to start the new fin year off correctly.

So starting 4/1/2023 I would like to create a calendar that lists that year as 2024 with the periods running from 4/1/2023 - 3/31/2024. I believe this means in the system there would be no 2023 fin year as I have been told we cannot rename the current year/periods. 

 

Hope that made sense, in the end we really just want to change the Year listed in the calendar and the periods would change as well to 01-2024 being 4/1/2023, 02-2024 being 5/1/2023 etc…

 

Thank you

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Best answer by aaghaei 21 March 2023, 17:07

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Userlevel 4
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Hi,

Please refer the following discussion on this issue:

Change in Financial Year | Community (acumatica.com)
 

Hope this helps!

Userlevel 4
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Hi,

Please refer the following discussion on this issue:

Change in Financial Year | Community (acumatica.com)
 

Hope this helps!

Thanks for linking. I did come across this when I searched prior to posting. My issue with the above is that this is modifying an existing year. If I try to create a new year in my system it does not allow me to skip 2023 (which would technically be the year we are currently in) and create 2024. 

 

Moreover, when I create 2023 I the Financial Period ID defaults to 01-2023. Does not allow me to change that numbering sequence.

Userlevel 7
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Hi @byates 

Have you tried doing this in a test instance? I would suggest doing so there first as this is going to affect your financials. You may have to start with a clean system if you are going to change that significantly. 

 

Userlevel 4
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Hi @byates 

Have you tried doing this in a test instance? I would suggest doing so there first as this is going to affect your financials. You may have to start with a clean system if you are going to change that significantly. 

 

Yes, that is where I am doing testing on the calendar changes. I feel like I work more in the testing instance than production as of late. 

Userlevel 7
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Hi @byates  were you able to find a solution? Thank you!

Userlevel 4
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@Chris Hackett 

Morning, I have not. I have been playing around with this in test and no matter what I do it will not let me skip a financial year. ie, I generate a new calendar and click “User-Defined Periods” the Fiscal Year defaults to 2023 (next in line) and even when manually changed it always goes back to 2023. 

 

Can’t find a way to override the fiscal year.

 

Userlevel 7
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@byates unfortunately I am afraid you won’t be able to make this kind of structural change from typical user interface. It will need direct update on SQL DB or a custom script using customization to fix the data.

the problem is FY is a key field for financial calendar screens and it goes deep down to almost every data entry screen by Fin/Tran Periods associated with the FYs.

 

Userlevel 7
Badge +11

Hi @byates 

Adding to previous note, please contact support to explore options on modifying Financial year as per your requirement, at database level.

Regards,

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