First off, there is a newer release of Fixed Assets that is Y2K compliant, V6.5A has been shipping now since March 2001, and fixed previously reported date-related issues in non-Y2K compliant versions.

To answer your specific question, there is an option in Fixed Assets to process a 'short year'. Information on this can be found in your Fixed Assets manual (page 3-12 or thereabouts - see Index for exact page).

Basically, what this involves is:
1. Finish a 'Period End' process for the appropriate number of periods as you would normally (this would include making a good backup prior to completing THIS period end!). (In your case, you would be completing the PE for Dec 31, 2001. Whatever 'period' this represents would be reflected in the PE processing screen 'Process thru (period xx)' option.)

2. BACKUP your data!

3. Select 'End of year processing' from the main menu's 'Period processing' option.

4. Run the 'Print Only' option to ensure that all figures are correct (this is normally what would be done prior to using the 'Update' function).

5. Select Update - you should get a message asking "Data not ready for EOY, Process Short Year?". Select Yes.

6. You will then be prompted to enter the 'New' Fiscal year information. Enter your new Fiscal dates now. You will be prompted "Are you sure you want a Short Year?" - answer appropriately.

7. You will now be prompted to ensure you have a GOOD backup - assuming you DO - press Continue.

8. FA will now proceed with the printing of the reports you indicated in the YE function. You will be brought back to the main Period Processing menu when it has finished.

NOTE: After processing a Short Year in FA, prospective adjustments are placed on ALL assets that have been affected by the short year. This is to prevent additional depreciation for the periods missed.

Hope this clarifies things for you!

Regards

Softrak Support