Sage 100

Have customer whose Sage 100 companies have fiscal year ending of 6/30. One of the companies has been changed from a C corp to an S corp in order to be merged into another entity sometime in 2013. An S corp apparently has to have a calendar year so I needed to change the 2012 year to a short year of 6 months ending 12/31/2012, so they could close everything out at 12/31. Before I changed it, 2012 ended 6/30/2012 and 12/31/2012 was technically the 2013 year. I just made the 2012 year 6 periods and ended it 12/31 and then created the 2013 year. Is that the correct way to handle it in Sage 100? This is all in a test company so far; haven't made changes to live company yet. Any suggestions, thoughts or anything I may have missed would be appreciate. Thanks!

So is 2012 now 7/1/12 - 12/31/12? And is 2013 now 1/1/13 - 12/31/13?

What happened to the 2012 that ended 6/30/12 ? Wasn't that 12 months starting in 7/1/2011?

Amy, this is how I did the same thing. Worked as expected.

When you made the 2012 only 6 months didn't it end in 2011?

I think I agree with Michael but I was wondering the same thing as Diane.

Yes I have done it this way also but usually you are off on the fiscal year/name. That is why I am asking about her ending date for 2012...

Technically, 2012 year ending 6/30/2012 SHOULD have been set up as 2011 ending in 6/30/2012 for this very reason. With the new framework, you can easily change the GL calendar and recalculate the periods so that the year 2012 is now a short year ending on 12/31/12.

I'm not sure how Amy has it set up, but for our fiscal year customers we always use the beginning date's year as the ""year."" So 2011 would have started 7/1/11 and ended 6/30/12.

@RobertWood, @DianeRuth, @MichaelNottoli and @JeffSchwenk The live company's 2012 is 7/1/2011 to 6/30/2012 and 2013 is 7/1/2012 to 6/30/2013. In my test company, I made 2012 6 periods, so 2011 is 7/1/2011 to 6/30/2012, 2012 is 7/1/2012 to 12/31/2012 and 2013 is 1/1/2013 to 12/31/2013. Is that right?

Perfect. Yes that is correct.

Thanks!

@amyshaver. I had a similar request from a client. Make sure Check your beginning balances on the 2013 year and confirm they roll correctly. I ended up needing to reinit the GL posting by period file because it wouldn't recalculate properly. Just an FYI.

@amyshaver. I had a similar request from a client. Make sure Check your beginning balances on the 2013 year and confirm they roll correctly. I ended up needing to reinit the GL posting by period file because it wouldn't recalculate properly. Just an FYI.

Thanks @Jim Woodhead!