Revised: 04/23/2013
An extended year is used to continue processing general ledger information into the next fiscal year without closing the previous fiscal year. With this option your trial balance will continue to have up to date balances without closing the previous fiscal year. However, you will not be able to run any financial statements with budget information for the new fiscal year. Budgets are tied to a fiscal year, the extended periods are part of the previous fiscal year until they are removed and the new year is created by closing the previous year.
Go to Maintain>>Accounting Period Master
Using the Segment field, select your fiscal year.
In Extended type in the ending date for the extended period. It is recommended that you extend several months ahead so you do not need to change these settings every month.
Change Active Periods to the new number of periods (months) from the Year Begin to the Extended date.
Press Apply
Period Grid
In the lower grid, select the first blank line at the bottom and enter your new months.
For Example: 13 01/01/13 01/31/13 January - shown below
|
Period |
Period Begin |
Period End |
Description |
|
13 |
01/01/13 |
01/31/13 |
January |
Make sure you tab off the entry line to a blank line. The line is not saved until you have tabbed to next line.
Add all the periods (months) in the extended range.
IMPORTANT - After these changes are complete you must Rebuild G/L Reporting before running any GL Reports.