Hi Everyone,
First time posting on the forum.
Our year end is the 31st July. I still have purchases and sales invoices to complete in that year, but i cannot access the period.
I have not run any year end reports as the year is not complete.
My question is: how do i re-open the year to continue to post the transactions i need to do.
Thanks for listening.
Cheers
Stephen
Hey Stephen! Welcome to the group!
Did you create your new fiscal period yet?
I could be wrong… but if I remember correctly… when you access things like AP Invoice Entry, it needs a CURRENT fiscal period in order to access a group.
This does NOT stop you from changing the fiscal period (or Apply Date) once the group loads. You can back date things. But if you don’t have a CURRENT fiscal period, you can’t even load a group.
Again, going off of memory as this only strikes once per year.
Hi David,
Thankyou for the response. I haven’t created any new fiscal periods yet as i get this message and not sure how it will affect things.
“Fiscal Calendar CompCal is referenced by GL Book(s): BEVBOOK, MainBook. Updating this calendar requires running Transfer Balances to apply the change to Periodic Balances. Are you sure?”
This was when i was trying to create a new fiscal year.
Cheers.
Yup, just hit “yes”. You’re not “closing” the previous fiscal. You’re opening a new one, and it needs something to start with as an open balance. So it will calculate some Transfer Balances… but this doesn’t set anything in stone.
You can still post to the previous fiscal period. And you’ll run the Transfer Balances again when you finalize your year end.
Assuming you have (12) fiscal periods in your fiscal year… you’re adding your new fiscal year. You will also need to manually add each fiscal period as well (one for each month).
Ah, that’s great David.
I will do that now. Appreciate the helpđź‘Ť
Cheers
No worries. We had the EXACT same hesitation when we hit our first year-end. I just checked and still have the emails when I reached out to our Epicor Financials Consultant with the very same question.
Hi David,
Did all of the above and can now continue with inputting data.
You have been a big help.
Thanks Again.
Stephen
Happy to help!
Again, welcome to the forum. This is what we’re here for. This group is great for building off of everyone’s collective experience. I ran into the same question and hesitation you did.
On a side note, I just looked up your company information. I’m in the US, but we have a subsidiary just north of you in Bamber Bridge (south of Preston). Small world!