Fiscal Year Change Impact

Hello Everyone,

I need to know that Is there fiscal year change impact on the system ? Here is the situation below:-

• We changed our fiscal year end from 3/31/2019 To 12/31/2019
• Currently, November 2019 is in Year 2020 because the system has taken out fiscal year is 3/31/2020 and November is Period is 8 then December will be 9. Rest of calendar year 2019 is fine. But, on January 2020 we need our Year to be 2020 and the period to be 1.
• When we want to process a year end to January. Obviously, all our P&L account should zero to retained earnings.

our 2019 calendar below

Our 2020 calendar below



Re-read original post… composing new reply

Not sure what you should do as you’ve already used periods 1 - 9 of FY 2020.

Hi Calvin,

Thanks for your response. Yes, Periods(1-8) have been already used of 2020 Fiscal Year.

I’m not sure what it is used for, but you can add a suffix to a FY. The Suffix is a Key field so it is probably used on GL trans.

I checked quickly Trial Balance by using the parameter. I put the period 8 and year 2020 is nothing but the November 2019 transactions it shows.

I’m wondering whether its possible to change FYE without any repercussions or confusion on the financial reports.

We need to process a year end by this December with FYE change.


I believe that you can delete periods, even when they have transactions against them. Create new period on the Fiscal calendar, and then you need to use the Verify Balances process so that the system generates the balances for the new periods you’ve created/amended.

Epicor is different than other packages such as Sage, where Period is KING. In Epicor, ApplyDate is king and the periods are somewhat more flexible.

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As Calivin mentioned the suffix added to a fiscal year is to take care of such cases. We have never used it so cannot really say how it is actually setup.

Vinay Kamboj

Year Suffix field greyed out in the fiscal year calendar

Because that year has already been used. Use it for the “new” 2020 FY.

TRY the following in your test environment

  1. Remove periods 10 - 12 from FY 2020.
  2. Create a new FY “2020B” with
    a. Year: 2020
    b. Suffix: B
  3. Create fiscal periods for FY 2020B of 1-12 (1/1/2020 - 1/31/2020, 2/1/2020 - 2/29/2020, etc …)

Thank you Calvin,

i)Created 2020/B - On Test Instance

ii) Just testing the parameter on the General Ledger Report

Note: Transfer Opening Balance to Next Year and Verify Balances are not processed yet. I assume if I run these then then its fine but not sure.

Did you create the FP’s for FY 2020B (in the second screen shot)? And change the Number of periods in 2020B to 1 for your test.

Or leave it at 12, change end date to 12/31/2020, and create 12 FPs

Excellent, after created 12 Periods for FY 2020B. I’m not getting any error on the report.

i) Entered the parameter again on the General Ledger report - No Error like before

ii) System Monitor

I think this solution will workout but we should not forget to put the suffix ‘B’ to view the report for FY2020. I have do transfer balance/year end check and see the retain earnings.

FTR - I’m just guessing at this.

Not sure how it might affect things like Financial reports. If you look in the FY setup, there are fields for Previous and Next Year. Since 2020 is the previous year to 2020/B, comparing prior year’s period might not lineup like you think.

For example,

  • Period 1 of FY 2020/B is Calendar January 2020.
  • Period 1 of FY 2020 is Calendar April 2019

Thanks Markdamen,

I wrote to Epicor on this, they advised us to delete the fiscal calendar and recreate it according to your our needs and afterwards run the Verify Balances. To change the fiscal calendar from Jan- Dec of FY 2020.