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Title: Inserting a Prior Fiscal Year with Non-Standard Dates

Brief description:

When entering a prior fiscal year, if using a definition other than Calendar year, you may find you receive a message about gaps in the timeframe. This Quick Topic tells you how to set up a prior fiscal year without receiving an error.

What’s covered in this document:

Determine the Fiscal Year Dates

Before you begin, determine the dates of the fiscal years you need to add. For example:

  • You already have Fiscal Year 2016 in the system with the standard Calendar year dates. (Gregorian calendar begins on the first of the month.)
  • What you need to have is the following:
    • FY 2015 - Ocboter 5, 2014 through October 3, 2015
    • FY 2016 - October 4, 2015 through September 30, 2016

If you attempted to add the non-standard dates for FY 2015, you would receive the following error:

Deselect Fiscal Calendar Property

To allow for the creation of a Fiscal Year outside the conventional Gregorian calendar beginning of month, you must deselect the Allow creation of and show Show Fiscal Calendar Options property (Admin > Properties > General > Display Options). Uncheck this option and click Save. Note that Unanet will store any existing fiscal year definitions for fiscal weeks/months/quarters, but just not display them when this property is turned off.

Edit the Existing FY

Return to the Fiscal Years screen in Admin > Setup > Accounting > Fiscal Years and perform the following:

  • Edit the existing Fiscal Year to have the desired Begin and End Dates and click Save.

  • Add the new FY (2015 in this example) with the correct Begin and End Dates and click Save.

Select Fiscal Calendar Property

Return to Admin > Properties > General > Display Options, select the Allow creation of and show Show Fiscal Calendar Options property, and click Save. This will restore the check to ensure that gaps are not created on any added Fiscal Year.

Finalize the definitions for fiscal year/quarter/month/week

Return to the Fiscal Years screen in Admin > Setup > Fiscal Years.

Edit Fiscal Year definitions to remove any gaps or overlaps, and to confirm exact fiscal weeks/months/years. You will see the gap error message until all gaps and overlaps are resolved.

Additional Information

Help Docs - Admin Setup - Fiscal Years

Help Docs - Unanet Properties - Fiscal Calendar Enabled

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