dhsieh
Active Member
Our company got bought by company Z. We used to be on a non-calendar fiscal year date pattern and need to switch to a calendar year pattern to be in line with the company Z. On Oct 20th, the transfer of our company to the new owner will be effective. Therefore, we need to close the year on Oct 20th 2004 (roll balance sheet balances, clear PL and roll to Retained Earnings). Right now we are using date pattern A and we are in fiscal year 04 since the end of our first period is 7/3/4. If we do a cutoff on Oct 20th, we will start a new year for the new owners on 10/21/04 and end on 12/31/04. This new year will also be 04 in JDE and we can't have two 04 fiscal year in JDE.
Is there anyone who ran into that situation before where they had to switch from non-calendar to calendar year in an acquisition context or not? How did you modify JDE to make this whole thing work (close on Oct 20th in our case and close again on 12/31/04 with only +/- 2 months in the P/L)? JDE is saying that we should create new companies to have a clean cutoff in JDE but we don't want to take that route because we are running out of time and we have 7 companies on JDE. They are also saying that we could use a short year pattern using date pattern B but in this case the system gets confuse because of the two FY04 and pulls inaccurate data for FY04. Please help!
Thanks
Is there anyone who ran into that situation before where they had to switch from non-calendar to calendar year in an acquisition context or not? How did you modify JDE to make this whole thing work (close on Oct 20th in our case and close again on 12/31/04 with only +/- 2 months in the P/L)? JDE is saying that we should create new companies to have a clean cutoff in JDE but we don't want to take that route because we are running out of time and we have 7 companies on JDE. They are also saying that we could use a short year pattern using date pattern B but in this case the system gets confuse because of the two FY04 and pulls inaccurate data for FY04. Please help!
Thanks