Fiscal Date Patterns

LoriA

Member
I received a white paper that states when changing a fiscal year, you must change all prior fiscal years. Wouldn't this change our financials? I think we would want to keep financials that match our audited reports. Has anyone done this? thank you!
 

rsvconsulting

VIP Member
Yes but you can simply create a new ledger type (UDC=3D09/LT) to carry your historical financial information for future reference. You can set up a n ew company, for example, your company name..."XYZ History Co." and use an i ndexed allocation to move all historical balances to that new company.

Then users can perform inquires or run reports on the historical AUDITED ba lances.

Al Marmero
 

rsvconsulting

VIP Member
To clarify, the udc for ledger type is =3D (09 / LT).

If you do need to change your history using the R099102 and R099103, you ca n then store your HISTORICAL Audited balances in a new ledger type. If you don't change history to conform to the new date pattern, your comparative reporting will be meaningless until the periods ultimately coincide.

Al Marmero
 
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