I have set up a company with a fiscal year-end of December. Now I need to change it to March. How do I do that?

Thanks, Brenda

Hi Brenda,

There are two possible answers depending on your data. Have you posted any transactions yet to your data?

The place to edit the Fiscal Year Calendar in Adagio Ledger is in the Company Profile, on the third screen. Each of the 12 (or 13) periods are defined here, and you can edit each period individually to what you want.

This is straightforward if you have not yet posted batches yet. However, if your GL data contains posted transactions, simply editing these periods will likely cause other problems. This is because your posted transactions and Account History files are not updated with new fiscal period information. If you change the Fiscal Period Calendar, this will throw off all of your financial statements and other reports as your data will no longer match the Fiscal Calendar.

Information is stored in GL by Fiscal Period, not by date.

There really is no easy way of changing the year end date in this latter case, short of starting the data from scratch and re-importing all of your existing transactions for the current year and the Last Year and Budget amounts for your accounts. The imported values would have to be shifted '3 periods over' to account for your new calendar. In other words, a lot of work.

I believe this is also possible via a database repair, but again can also be difficult, especially when the shifting of Net period change amounts and how those amounts affect Opening and Current Balances are taken into account.

Regards,