Changing FY to Calendar Year

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sumc
Posts: 6
Joined: Thu May 13, 2010 9:32 am

Changing FY to Calendar Year

Post by sumc »

Greetings!
So our church has decided to change from our regular (July thru June) fiscal year to calendar year starting in January, 2023. Is there anything I need to anticipate, change, update or do in PowerChurch to facilitate this change? I have only been using PowerChurch, the accounting side for a year. Any suggestions are welcome. Thank you in advance.

T.R.
SUMC

Zorak
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Re: Changing FY to Calendar Year

Post by Zorak »

You shouldn't need to do anything until you are finished printing your month end/year end reports in December 2022. Once that is done, in PowerChurch, go to File > Preferences > Accounting Setup. There you will change Fiscal Year Starts With The Month Of to January.

It should be noted that if you go back to run a Balance Sheet or other reports like that for 2022 or prior years, it is going to assume the fiscal year was January to December, which is why it is important to run those year end reports for the partial year before making the change. You can always go back and change the fiscal year back to starting in July if you have to, but it can then get very confusing toggling that setting back and forth.

sumc
Posts: 6
Joined: Thu May 13, 2010 9:32 am

Re: Changing FY to Calendar Year

Post by sumc »

Thank you so much! This is very helpful.

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