Hello All,

We have a situation where a client of ours originally had a Jan. 31 YE, then a sale of business was going through, so we changed the YE to Oct. 31.

The roll over of the year and fiscal period change was completed in November.

The unfortunate thing is the sale of the business has fallen through. Now, as the year has already rolled over, we are in fiscal year 2010. We have set the fiscal calendar back to a Jan. 31 year end, but there were 2 batches posted at March 31/09.

I have archived those batches, now what I need to know is how do I get rid of the 2010 fiscal year, so I can go back and post entries at Nov.1 2008 to correct for the year end being performed.

Then after that we can roll over the year at Jan. 31/09. and then we can recreate the fiscal year 2010 and post our two batches after the recreation.


Any suggestions/tips??? Is the purge fiscal year 2010 what should be done in this case??


Thanks,

Darcy Chretien

Hi Darcy,

The creation of the Next Fiscal Year cannot be undone. Thus you will have to essentially recreate the data without it.

Perhaps this can be helped by exporting all of the batches since November to an Excel spreadsheet. Either export the archived batches or if required, Unpost batches to get them back into the batch system. Then restore the GL data prior to doing all of the Year End changes back in November and import the batches back (using the 'Detail only' style import batch template) to the appropriate fiscal year. Import batches requires a specific fiscal year, so have different files for batches belonging to different years.

Another way is to create a new empty GL company data set. Export all Transactions from the existing data and Import them to the new company data. Current year transactions must be imported as Batches, not as Transactions, so some tweaking of the current year transactions file is required. You would have to deal with opening balances for each fiscal year, which would have to be imported (using the import net changes function and only the opening balance column) before importing any transactions/batches in the respective fiscal year.

Others reading this may have easier/better suggestions.

Good morning Softrak,

Thanks for the input. We took a few days to review the situation, and we have a few more questions.

With the option of starting a new dataset, what would have to be tweaked with the transaction file??

Also, is it possible to get everything in the current year GL into batch form, such as an archive, as they have done a lot of posting already.

Lastly, what is the Consolidate GL transaction function all about??

Anyways, it looks as though we will be starting fresh, so anymore input you have on that process would be much appreciated.

Thanks,

Darcy Chretien

Please ignore the part about the unpost batches/archive, the reason why it wasn't allowing unpost, is because I had switched the fiscal calendar to what it was previous and of course made it look as though alot of the "current year" batches were prior year.

Thanks!

Hi Darcy,

By 'tweaking', I mean that the exported transaction Excel file for current year transactions must be in a format that is importable as a 'Detail only' style batch. Essentially you need to determine what fields/columns to export in the first place, so you can them import them back in as a batch. Take a look at the default 'Detail only' batch template for an idea of what is required. Also look at the help file for importing batches to see what fields are required and which ones you can get away without including in an import batch file.

Before importing batches to the current year, or transactions to a historical year, you first have to import the opening balances for each (balance sheet / retained earnings) account for the particular fiscal year. Use the Import Net Changes function for this. Do not import the period net changes as the Import Batches / Transactions functions will do this for you.

The Consolidate Posted Transactions function (from the Maintenance menu) is used to save disk space and merge detailed posted transactions into a single record. You can choose to group and merge transactions for the same account / department / period or for the same account / dept / period / source code. You save disk space, but the Detail Listing report and financial report drill-down become less interesting as you lose individual detail amounts, references and descriptions. This function can be run for particular accounts, so it is not an all-or-none proposition.