We have been told that our year end will be changing from the end of September to the end of October.

What is the best way to handle this in Adagio? We originally thought we could just add a 13th fiscal period, but that only seems to be an option when you are setting up the data file.

Hi, Erica,

The 13th period is used by some companies to capture adjustments for the prior year and even if used is always added on to a particular quarter within an existing year.

What version and release dates of GL are you using? You can get this information when the module is open by selecting Help from the menu and About.

Exactly which calendar and where you will need to modify will depend on the version of GL you are using.

We're using 9.0A.

Thanks

Hi Erica,

Changing a fiscal year end is best done with the help of an experienced Adagio consultant. You often need a special set of financial statements if you are doing prior year comparatives (to make sure that the correct periods are being compared).

Some industries/companies actually run a 13 period fiscal calendar (restaurants often do, for instance) to make sure that all the periods are the same length. Adagio Ledger V9.0 has a specific posting "bucket" for year end adjustments.

Generally, the easiest way to handle a short year end, is to do the year end at the end of the period as necessary. Start the new year but post to fiscal period "n" (to keep the comparatives valid), changing the titles in the fiscal calendar or hard coding the period numbers in the statements, then doing another year end for the short year, and having being back in synch.

As I said, you'll probably want to enlist the aid of someone with experience doing this.