Changing the Fiscal Year End date using a short year

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Important reminder!

Licenses for Payroll CS, Trial Balance CS, and Write-Up CS (but not Engagement CS) permanently expired on March 1, 2017.

For details, see CSA license expiration 2017 – frequently asked questions.

Some processes documented in the Help & How-To Center are no longer applicable, due to the discontinuation of these CSA modules.

Suppose that a client wants to change their fiscal year end date from March 2009 to December 2008 by means of a short year.

  1. Complete the client's processing to the end of the short year (12/31/08 in this example).
  2. Run all necessary reports.
  3. Make a backup of the client's information. Note that this backup should be considered an end-of-year backup.
  4. Choose File > Select Period to Process and select January 2009.
  5. Choose File > Client Properties and click the General Ledger tab.
  6. Click the Change fiscal year end date button.
  7. Enter 12/31/09 in the New fiscal year end field on the Change fiscal year end date dialog.
  8. Click the Continue button. This will automatically take you through a year end close to obtain the proper beginning balances for the new year.
  9. Process the rest of the client's year as usual.

Note: You will not be able to run short-year financial statements or trial balance reports for the previous year. Comparative amounts, however, will be available.

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