User Support Forum

I've read back through various questions regarding changing the fiscal year. Because most of the related posts are very old and we are now using v.12, I want to confirm so that I do this correctly in v. 12. We are currently on a calendar year. However, in 2019, we would like to change to a Sept 1 - Aug 31 fiscal year. Please confirm the following:
[*]Do I just change the fiscal year in the Accounting setup?
[*]Do I need to do a stub year for Sept 1 - Dec 31 so that YTD budget vs YTD actual will be correct?
[*]Any impact on payroll and contributions?
[*]Anything else to do on this?
[*]If after making the change, the need arises to post back to a previous year, will PC+ handle it correctly from a YTD perspective?

mikenerney wrote:I've read back through various questions regarding changing the fiscal year. Because most of the related posts are very old and we are now using v.12, I want to confirm so that I do this correctly in v. 12. We are currently on a calendar year. However, in 2019, we would like to change to a Sept 1 - Aug 31 fiscal year. Please confirm the following:
[*]Do I just change the fiscal year in the Accounting setup?
[*]Do I need to do a stub year for Sept 1 - Dec 31 so that YTD budget vs YTD actual will be correct?
[*]Any impact on payroll and contributions?
[*]Anything else to do on this?
[*]If after making the change, the need arises to post back to a previous year, will PC+ handle it correctly from a YTD perspective?

Nothing has changed in the way v12 handles a fiscal year. All the suggestions given previously still apply.

Definitely nothing changes in Payroll (as that is always a Jan to Dec year) or in Contributions as its a totally separate module, it will run a Jan to Dec year.

As far as returning to a previous year, you will need to to a full backup of the current data, and a full restore to insure all the proper program settings are there. However, you won't be able to restore a backup made by a previous version, so I'd keep that version available , but not easily accessed.