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How to change a Fiscal Year-End


Because you can not have a property that had one year-end for a period of time, then switches over, there are two options:

OPTION 1.  Create a new property. Archive the data over, creating a blank new general ledger

 

OPTION 2.  Change the existing property to the new year-end (from the inception of the property). These are the steps:

  1. Open every period from the beginning of the property
  2. Accounting > Journal Entries:  Delete every Close Year entry from the beginning of the property
  3. Admin > Property > Settings: Change the Fiscal Year Start Month
  4. Close the months in the first year, then do Close Year. Repeat for each additional year.  (Note: You should not have to do a Close Year for the current year.)

 

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