Example: Fiscal Date Pattern Changes to a Calendar Date Pattern
Your company has been operating under a July through June fiscal date pattern. Due to a merger, you must change to a January through December calendar date pattern.
The current fiscal year is 2006. Your current fiscal year pattern is July 2006 through June 2007. The next calendar year is January through December 2008.
Possible solution:
Set up the new fiscal date pattern and pattern code for July 2007 through December 2007.
Using the new fiscal date pattern and pattern code (from step 1), set up the new fiscal date pattern and pattern code for January through December 2008.
Run the Calculate Fiscal Year and Period program to print the report only.
Review the report and compare, on a line-by-line basis, the old and new century (CT), fiscal quarter (FQ), fiscal year (FY), and period number (PN) columns for accuracy.
Run the Calculate Fiscal Year and Period program to update the F0911 table to reflect the new fiscal date pattern.
To calculate a new balance forward amount in the F0902 table, complete the processing options on the Balance Forward tab.
Run the Repost Account Ledger program to restate the account balances to reflect the new fiscal date pattern.
This updates the F0902 table with amounts that are based on the new period number and fiscal year that were previously assigned to the F0911 records. Use the same data selection that you used when you ran the Calculate Fiscal Year and Period program.
Run the Annual Close program to close the year for 2006 or set the Balance Forward processing option to recalculate balance forward amounts.
Run the Annual Close program to close the year for 2007 or set the Balance Forward processing option to recalculate balance forward amounts.