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Fixed Assets CS Support

Change from fiscal to calendar year end

A client may change from a fiscal to a calendar year end. In most situations, they’ll close out the final fiscal year end, complete a short year to the calendar end, then complete a full calendar year.
Follow these instructions to close the fiscal year end, set up the 1st initial short year, and complete the 1st full calendar year.
  1. Open the client and go to the last fiscal year end period (3/31/17).
  2. Select
    File
    , then
    Period to Process
    .
  3. Select
    Close To Next Year
    .
  4. When in your next fiscal year end (3/31/18), select
    File,
     then
    Client Properties
    .
  5. Change
    Current Fiscal Year End
     to 12/31/17.
  6. On the
    Short Years
     tab, enter
    3/31/17
     in
    Most Recent
    .
  7. Select
    OK
     to create a 4/1/17 to 12/31/17 short year.
When you've completed the 4/1/17 to 12/31/17 initial short year and the client is closed to the next year, Fixed Assets will create a 1/1/18 to 12/31/18 processing period.
While in this processing period (1/1/18 to 12/31/18) you can remove the date from the
Most Recent
 field. To do this, go to
File
,
Client Properties
, then the
Short Years
 tab.
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