Hi there,

Currently we have a fiscal year that is only 5 periods due to a change in our year end. (From December 31 to May 31). We are currently working in this 5-period year. However 12 periods are set up in our g/l for this current year - we just won't be posting to anything after Period 5.

Our next step is to open the next year (which will be a 12-period year). Can I proceed as normal for opening a new year?(I know I will have to change the dates for the periods in the new year to start June as Period 1).

Hi, Christine,

While you can just edit the fiscal calendar periods for the new year, there are other things to be considered when changing a fiscal year end. For example, what about financial reporting? Will you require that, when reporting on current and prior year data, fiscal period 1, 2, 3, etc. report on the same months in each year?

It's usually best to work with an experienced Adagio consultant when changing the fiscal year in your accounting software.

By the way, are you coming to our End User conference later in June? The conference provides a great opportunity to network with other users, learn about the various modules you are using, talk to 3rd party developers about the products that integrate with Adagio. And, the cost of the conference also includes 2 nights hotel, supper one night among other things.

Here's a link to our website if you'd like to find more information about this conference:

http://www.softrak.com/aoc2009/enduser/

Hi Christine

The following assumes you are using Ledger 9.0.

What you want to do is possible if you haven't posted ANYTHING to periods 6 thru 12. In that case, immediately close those periods. Error batches containing transactions with those periods will accumulate - just let them. You will eventually need to change the periods of every single transaction in those error batches - 6 will become 1, 7 will become 2, etc.

When you are finished with the short year, archive those error batches, perform year-end, change the dates of new year's fiscal periods, and then change the periods of the archived batches, bring them back and post them.

As tech support suggests, this is not for the faint of heart, and is one of the ways consultants such as me provide value. It goes without saying that you will not be able to get comparative financials for a year.

Steve