I'd like to find out how many users/dealers out there have heard of this requirement and in what industries?

A financial statement with weekly fiscal periods to report on things like:

This week vs this week last year

So this would require 52 fiscal periods with a 53rd every 7 years.

Softrak's Financial reporter design can handle this situation, except for the 53rd week every 7 years.

Is there a budget for the project?

Michael:

No budget, only because it's early days and I don't yet have a concept of what a budget needs to look like to have a meaningful discussion.

Are you thinking that the financial report would be changed from periods to some defined date ranges?

If you go to a 52 fiscal periods then isn't this more than just a financial reporter issue? Retrieve from sub-ledgers by 'period based on date' and selecting the period during GL batch entry come to mind as issues.

There would also need to be a 53 period solution. Again it's early days so we just been to figure it out, maybe this isn't that big of an issue. Thinking the problem through, in a 13 period cycle, every 7th year the 13th period gets 5 weeks rather than 4 (a 25% increase, because of time, when compared to the prior year). In a 52 period cycle, every 7th year, without a 53rd period, the 52nd period gets 2 weeks rather than 1 (a 100% increase, because of time, when compared to the prior year, which may not be acceptable).

There would be no "connection" between the "GL52" and the subledgers. The approach would be to "process" GL Transaction based on the transaction date ( they would need to be accurate ) and assign them to the appropriate Fiscal Year/Fiscal Period in a "custom" GL52 database.

Our data structure and design provides for a Y/E Period (53rd) but it is always present.

We would not be able to accommodate a occasional 53rd period.

Hi Doug,

We ran into this request about 10 years ago, for a grocery chain, that had a specific requirement (or so they said) for weekly financials.

Their finance group struggled with our suggestion to go to 13 x 4 week periods, and that was the key that weekly F/S would be a bust. So we walked away.

I guess there are some sites that need weekly financials but they don't need Adagio or their volume of users would not be able to be handled by Adagio.

Best,
Brian

Hi Brian,

Restaurant / Hospitality / Retail often look for weekly operating financials. Typically they don't have very many people in the accounting department.

Brian:

Don't know why your client struggled, it's not like you have to pick the correct period with every data entry step.

Though 13 x 4 weeks is the correct option, most of my Restaurant / Hospitality / Retail clients use 12 periods of 4 weeks/4 weeks/5 weeks and repeat. Not sure why.

To properly allocate labour?