Multiple annual closes

[blainen]

Hi List:
My company has recently been acquired and is being asked to perform a "hard close" on the date of sale. In effect, this means performing two annual closes within one year, where the first part of the year is somehow separate from the last part of the year. According to JDE support, this can't be done and the solution is to create new companies at that point. Before going down that road, I want to make sure there are no other alternatives. Any ideas out there?

Thanks

 

[sdollard]

Blainen

I have been through this in part, I can not give you the details you are
probably looking for, but yes we had to create a new company.

Steve

AS/400 ES
XE SP17.1 update 3
2000 DS





blainen
<blainen@trendwestre To: [email protected]
sorts.com> cc:
Sent by: Subject: Multiple annual closes
owner-jdelist@jdelis
t.com


04/11/2002 09:17 AM
Please respond to
jdelist






Hi List:
My company has recently been acquired and is being asked to perform a "hard
close" on the date of sale. In effect, this means performing two annual
closes within one year, where the first part of the year is somehow
separate from the last part of the year. According to JDE support, this
can't be done and the solution is to create new companies at that point.
Before going down that road, I want to make sure there are no other
alternatives. Any ideas out there?

Thanks
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[Mike Dupaix]

blainen,

Yes. You need to setup a new company. JDE does not
perform hard closes indicating that a permanent entry
is made to RE. Only a soft 'cumulative' entry is
made.

With any acquisition, liabilities, equity and assets
are re-valued and a new starting point is required to
keep the old books distinct from the new books.
Depending on the final acquisition agreement, you will
need to create new short and long term assets,
transfer AP and AR balances to the new company.
--- blainen <[email protected]> wrote:
http://www.jdelist.com/ubb/showthreaded.php?Cat=&Board=OW&Number=32479


__________________________________________________


World, OW B733X and Xe

 

[JohnEcc]

Hi,
We had to do this last year on Xe. We created a new ledger type of UA and copied the entire AA GL to UA GL on the weekend of the 'Hard Close'. Closing entries specific to the hard close were done in UA only, usual closing entries had to be done in both UA and AA. From memory this worked really well although I think the copy left a few accounts behind initially, however. We also had to move to a 13 period year as our hard close happened mid month.
Good luck,

JohnE

 

[blainen]

Interesting. What was the sequence? Did you do the close first and then load the UA ledger? Afterwards, did you run the business off the AA ledger and then make JE's into the UA ledger for reporting purposes?

 

[JohnEcc]

We used Index Computations (G0923, P09121). This handles the copy function. Allowed us to copy YTD AA ledger to a set up UA Ledger using document type JA, system assigns type D. We ran a trial copy several weeks in advance of the date and ran P&L contributions over the UA and compared to the AA. Posted jnls to the UA, ran further reporting comparisons etc..
We hard closed on 23 March 2001 (year end is 30 June). I don't recall that we had any issues. We closed off the UA, printed reports and completed the accounts package. The business continued to run on the AA ledger and, yes, year end JE's were done in UA for reporting purposes. These were identified as the recoinciling items between UA and AA. Incidently we ran the full month depreciation prior to the copy then manually journalled out 25% of the month charge.

cheers,
JohnE