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Last Post 12/01/2017 1:46 PM by  Len P
Fiscal Year change to Calendar year
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TWiese
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11/28/2017 1:04 PM
    Our organization just announced its being sponsored by another Healthcare Ministry. They currently run their financials on a calendar year. We closed FY17 in June. We started FY18 in July. I need ideas as to how others have worked with this type of situation(moving 6 months of data into a new FY) I have been given instructions to use GL500 but the logic does not make sense for our particular situation. What happens to the first 6 months that are also reflected in Flex Budgeting, AC/AM. How do the balances whether current or from FY17 get reflected in the GL. Any help would be greatly appreciated.
    Tammy Wiese IT Business Analyst/Lawson
    TracyO
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    11/28/2017 1:34 PM
    We are going throught the same thing only the other way. We are going from 12 monthly periods to 13 periods. I am not sure exactly what your concerns are. We have to short close our AC/AM systems also to stay in sync with our GL. I do not know much about AC & AM, but we are waiting on a JT because the AM192 - short year close is not working when our last period of the year is 12. I can try to help you if you have other questions, but we are just in our beginning test stages of this ourselves
    Len P
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    12/01/2017 1:46 PM
    What the GL500 does is change your GL Companies GL10 Calendar. In your case from a calendar that starts wit July to a Calendar that starts in January. The GL500 takes all history reorganizes the Periods, and YTD balances based on the new calendar.
    If you are doing this this July as the current period, in the current calendar July would be Period 1 of FY2018, but after running the GL500 July would be Period 7 of FY2017.
    The first 6 months (January to Jun in the example) are periods 1 thru 6 of FY2017.

    A couple of recommendations:
    Save a backup, perhaps as a new product line, of the data BEFORE the GL500. This is usefull for reporting.
    Adjust GL Report Writer reports for the new FY comparisons.
    You will need to run the rebuild programs (GL330, GL320, GL325) after running the GL500.
    There are also calendars that need adjustment in AM, AC, AP and IC.
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