Sage 100

Client company was sold on 2/8/2016. Year end is 12/31. They need to do another year end close as of 2/8 then change the year end back to 12/31/2016. I'm going to create a backup company and test changing the fiscal year then close, change the fiscal year again. Any thoughts?

Never had a problem changing GL fiscal years. I have had issues if the customer also wanted to change the summary info for Inventory for which I used the DSD utility to rebuild history.

Thanks @WayneSchulz. Fortunately, this is GL, AP, AR and JC.

I have done this once in the past. We separated them into 2 fiscal years. First year had 2 periods 1/1 to 1/31 and 2/1 to 2/8. The next Fiscal year was changed to 10 periods and started 2/8 to 2/28 and then remaining periods were normal ending on 12/31. This was all set up manually in Fiscal Year maintenance. For the NEXT fiscal year, we were back to 12 periods and 1/1 to 12/31 normal months. Cooper

Boy, I'm curious to see what comparative financials might look like. I guess there's really no such thing.

You can't have two FY 2016 so the new one ending on 12/31/2016 will actually be 2017. I had this problem with a client before, and they made me change all their prior FY dates so that the year ending 12/2014 was called FY 2013, and the year ending 12/2015 was called FY 2014, so the year ending 2/8/16 would be FY 2015 and the year ending 12/31/2016 would be FY 2016. Should work fine...

@KathrynScofield the key here is that the company was sold. Technically business ends on 2/8/16 with a short year. So their final year is a two month period. What are they planning to store in Sage 2/9/16 to 12/31/16?

Technically the first VC group sold their interest to a second VC group. The original founders still have controlling interest, so it business as usual for 2/9 forward.

Follow the tax ID...

Yeah, I don't think those two years could be considered.

Ditto @Wayne. Good advice.

Yes, the tax ID rules. In this case, ID is unchanged.