ongtp
Member
Currently, Fiscal year starts on Dec 1 and ends Nov 30. Want to change it to start Jan 1 to Dec 31. Has anybody done such a change? How do we close the current fiscal year before starting the new one in Jan 1, 2011? Thanks.
JdeInNJ
Reputable Poster
Normally when you change fical years, there is a short year between the old and new years. Thus you would have a year with one period from Dec 1 - Dec 31, then a year starting Jan 1.
I think Oracle (JDE) support should have more detailed instructions on how to change your fiscal year.
I only did a month end change. I was on a July - June fiscal year with Saturday month-end dates. One year, starting October, we switched to calendar month ends. Because we had posted no transactions to October and beyond, all we had to do was change the month end dates. Your situation will be more complicated.
Brad
World F6.2 - A7.3
OneWorld B7321 - EnterpriseOne 8.12
I think Oracle (JDE) support should have more detailed instructions on how to change your fiscal year.
I only did a month end change. I was on a July - June fiscal year with Saturday month-end dates. One year, starting October, we switched to calendar month ends. Because we had posted no transactions to October and beyond, all we had to do was change the month end dates. Your situation will be more complicated.
Brad
World F6.2 - A7.3
OneWorld B7321 - EnterpriseOne 8.12
Solutionkid
Well Known Member
I'm not sure if you have moved forward on this issue yet, so here is my $0.02.
You have two choices in the change of FY:
1. Your last full FY would be 12/01/09 to 11/30/10. Then a one month short year from 12/01/10 to 12/31/10. Then your new CY is 01/01/11 to 12/31/11. Most common problem with this move is you will encounter problems with financial reporting until the short year is well behind you as it has only one period in it. But custom financial reports can overcome this.
2. Define a new fiscal pattern using a previously unused letter code for the calendar years going back as far as you require in history. Repost your G/L using the new fiscal pattern structure (this could be time consuming) and then all your history would "look" like you had always used the calendar year structure.
Question: What does financial management desire? Option 1 or 2?
Good luck.
You have two choices in the change of FY:
1. Your last full FY would be 12/01/09 to 11/30/10. Then a one month short year from 12/01/10 to 12/31/10. Then your new CY is 01/01/11 to 12/31/11. Most common problem with this move is you will encounter problems with financial reporting until the short year is well behind you as it has only one period in it. But custom financial reports can overcome this.
2. Define a new fiscal pattern using a previously unused letter code for the calendar years going back as far as you require in history. Repost your G/L using the new fiscal pattern structure (this could be time consuming) and then all your history would "look" like you had always used the calendar year structure.
Question: What does financial management desire? Option 1 or 2?
Good luck.
ongtp
Member
Thanks for your thoughts. We'll be opting for option #1. Apart from financial reporting are there any other things I have to look for. Some others have mentioned Fixed assets. What about having only 1 month or less than 12 periods in a year. Will that cause any issues?
JdeInNJ
Reputable Poster
If you use option 2, make sure to set the processing option to recalculate the fical year and period number. From the A7.3 documentation, you would want to set the option to a "3" to recalculate the fiscal year and period number and print a report. Set the option to "4" to recalculate the fiscal year and period number, print a report and update the account balances file (F0902).
jdickeymcc
Active Member
My suggestion is that you contact Oracle (JDE World) on your plan to change your fiscal year. Changing fiscal year is not an easy task, and as the developers of the software, they will have the best instructions on how to do this, and what things you need to watch out for. Yes, fixed assets can be another problem area with a change like this.
John Dickey
John Dickey
