I purchased FX last year and need to close the year. I want the information from 2007 to be in the previous year. How do I do that?

Thank you.

Hello Bruce,

When you retrieve data into FX, it will always retrieve 2 years of data: the current year and a prior year.

For QuickBooks, set the Fiscal year starting to 2008.

For Simply Accounting, if you are currently in 2008, make sure that you do NOT select the option ‘Retrieve prior year’ when you Retrieve data. This option will treat the prior year as if it were the current year. This means that you would get 2007 and 2006 data instead of 2008 and 2007 data.

Thank you for the information. Currently, I have monthly beginning and ending dates in the fiscal periods for 2007 and 2006 in FX. Do I need to manually replace the monthly beginning and ending dates in 2006 with the beginning and ending monthly dates from 2007? Also, do I need to manually change the fiscal year for 2007 to 2008 and manually enter the beginning and ending dates for each month for 2008?

Thanks.

Hi Bruce,

The Retrieve will take care of this for you… as long as you don’t select the option: Use existing fiscal calendar.

We are using Quickbooks and, in FX use a 13 period fiscal year. Each month end in FX is on a Wednesday and is either a 4 or 5 week month. For 2007, I manually entered the beginning and ending month end dates for each month. (I am using FX because I could not create financial reports in Quicken using this type of fiscal year).

Thanks for the quick reply.

Bruce

In that case, you were on the right track.

Instead of allowing the Retrieve to reset the Fiscal Calendar for the 13 periods, you will want to edit the Company Profile and reset the dates and descriptions.

Then, when you do the new retrieve, you will select the option: Use existing fiscal calendar.

It might be easier to create a new Adagio FX database in a different folder using the correct Fiscal Starting date and then copy the AFDATE'I.AFX file over the existing one in your production folder. You might have used a different extension.