Sage 100

Got a call from a client that needs to do a mid year close due to new investors (year end is currently 12/31). I'm pretty sure I've seen a discussion or instructions on this but can't seem to find it. Closing is on the 9th so quick responses are really appreciated!

Do you mean changing the last fiscal year so that it cuts off on 11/9.

Changing fiscal periods can impact other modules as outlined in this Sage KB article - https://support.na.sage.com/selfservice/viewdocument.do?noCount=true&externalId=20846&sliceId=1&docLink=true&languageId=&isDocLink=true¤tmsID=MS_Customer&cmd=&openedFromDocument=true&ViewedDocsListHelper=com.kanisa.apps.common.BaseViewedDocsListHelperImpl

Another option would be to create a new company. How is the history going to be handled?

@JeffSchwenk that's what I'm thinking but there are 25 companies with Sage Intelligence consolidations so I'm just trying to puzzle out best way to avoid LOTS of work.

I'm waiting to hear if we can do company copying for stub period tax reporting and just do a whopper JE to closing P&L in production companies, not changing the calendar at all.

Work isn't bad as long as client is willing to pay. Important to give them options, both short and long term. Sounds like you are earning your Christmas bonus on this one. Good luck!

As @JeffSchwenk mentioned I have always created a copy of the company. Ending operations as of 11/9 in the current live company. In the new company typically we would create a JE to zero out the GL accounts to have a clean slate or bring in beginning balances. The client would record the purchase. They would keep the old companies as archive and have the old companies so they have an ending balance sheet as of 11/9/2018. A bunch of other moving parts... forms, security... not a small project... definitely getting your Christmas bonus.