Ues the Fiscal period modifier tool in PSTL to change fiscal year definitions and reset data in the open and history tables.
NOTE: This tool does not support changing the month/day on closed years as the tool does NOT recalculate the ending and beginning balances! Only use this tool to change the YEAR STAMP for years that are currently closed. This tool does not move transactions back to the open GL table.
Overview of Fiscal Period Modifer window in PSTL:
Step 1 - removes all current fiscal periods and prompts you to reset up the same year/dates with new year stamp.
Step 2 - removes the 'historical' flag on any previously closed years that should now be open.
Step 3 - Updates the year stamp in all the tables per the new calendar setup and removes all GL summary data.
If the years to be changed are 'open', these steps should work:
**Make a current backup before doing this or do this in a Test company first.**
1. Open the Professional Services Tools Library (PSTL) shortcut.
2. On the Financial Tools section, mark 'Fiscal Period Modifier' and clicked 'Next'. The Fiscal Period Modifier window will open showing three steps.
3. Start with Step 1 to Setup Periods. (Clicking on Step 1 will remove all prior fiscal periods set up, and prompts you to reset them up.)
4. On the Fiscal Periods Setup window, enter the first year that you need to modify by entering the First and Last Day. Please make sure to setup EACH period in the company database. (When defining new periods, be sure to use the same year/dates, and only change the year stamp. This utility does not allow transactions for a year to be split between different years.)
5. Click on calculate and appropriately mark the year as Historical Year as needed.
6. Repeat the process for EVERY year that you wanted to process.
7. Click on 'Ok' after setting up the last year.
8. Go back to the PSTL Main Window and mark Fiscal Period Modifier again and click 'Next'
9. If there are years which were previously closed and need to be opened, select or enter the year in Step 2 and click Open Year. You will receive a message that the year selected has been chagned to an open year. (This step does not reopen the year. It just removed the Historical check mark.) Otherwise, proceed with Step 3.
10. For Step 3, click on the Process button to process the new Fiscal Periods and align your history and open data and remove the old GL summary data. (IThis process updates the YEAR STAMP in the SQL tables to match the new calendar.)
11. After this procedure, you need to run the Reconcile Utility to repopulate the GL summary tables by going to: Tools | Utilities | Financial | Reconcile and reconcile each year, starting from the earliest year in the system.
12. Review the GL data. Go back to the Inquiry | Financial | Summary window, and verify the account balance for the new periods.