Sage 100

Best Practices question here! We have a client (v2016) that sold off a chunk of their business on 10/5/17. All the adjusting entries have been made, and a good backup company with restricted access too. The client would like to be able to run reporting now and going forward with a virtual 'line in the sand' differentiating both before and after the sale. What do you guys do in this situation? A reversing entry as of 10/6? Sage Intelligence Connector with date parameters on both the new and backup company codes? I can see pros and cons to all the solutions I can think of, but have not actually had to do this for a client yet so I'm looking for any pearls of wisdom from someone who has?? TIA!!

@MichelleForsey one way we do this is to create a 13th period in your calendar. Have two periods for October; 10/1 - 10/5 and 10/6 - 10/31. It's not perfect but it's pretty straightforward. However, this might not be possible at the late date. You probably have a lot of transactions that have already been posted to the current periods. Shoving a new period into October might be more work than it's worth. What are your reporting requirements for comparative reporting over the next year or two? Is this a short-term issue or will it be around for a couple years?

@ShawnSlavin Yeah, they talked about the 13th period but we decided it was too much work now. No one has asked for any specific reports yet, the CFO is just trying to stay proactive knowing eventually they will need something. But it could span out over several years - especially if they continue to sell off bits and pieces of the company. I am now leaning toward some SI reports (and training) since there is no definitive need yet. The biggest problem is 90% of the GL reports in Sage don't have actual dates, just period reporting, so the client is a little leery of creating financial reports and the like to show the numbers for future sales. I am just grateful I finally have a forward thinking client here!

If you change the accounting periods in Fiscal Year Maintenance, Sage performs a recalculation of General Ledger posting history by period, Item history by period and Sales Order recaps. Of course, try the change in a copy company first to see if the recalc puts your transactions in the correct period.

Ok, we'll check it out in the test company and see how that looks. But if we do that are they then stuck with 13 periods in the next years too?

First question ( I presume the answer is no ) - is this a new tax ID entity or is the same tax ID carrying on? I usually don't mix Sage companies that have different tax ID numbers. 1. You can have different # periods in different fiscal years - as Jane notes the recalc in GL works quite well 2. If you are using inventory you may want to check the period totals as I don't think the period totals will change when you change periods in GL. This may or may not be an issue. I had a customer where it was an issue and we used DSD recalc utility to put the totals into the correct periods.

@WayneSchulz Same EIN for sure! I don't think a realized you could have different periods among different years, so that is really helpful. Fortunately they don't have inventory, so we are safe there. Thanks everyone!