Short years because of acquisition

I have a new client who has been acquired as of 5/25/21.  The result is that the fiscal year the predecessor company  had is not the fiscal year the acquiring company wants. 

They have 12/1/20-11/30/21.

They want 12/1/20-5/25/21 and 5/26/21 - 12/31/21 

Does your utility work for that version? They have about one company, 1 gig of data and SQL for a back end database. 

They also have a bunch of transactions from the calendar date 5/26/21 through now which have mostly been posted right away to GL. So, there is a group of maybe 30 batches in the date range of 5/26/21 through 5/31/21

which ideally need to be moved to the 1st period of the second fiscal year 5/26/-12/31/21.

I'm looking at the Musick International year end fixer product, but if I didn't use that, what would I do?

I have been thinking of just changing the financial reports to allow reporting on either the fye 5/25/21 or 12/31/1 depending on which report you run and leaving the fiscal calendar to run from 12/1/20 through 12/31/21. 

  • You should use Musick's product - works great and well worth it.  There is an alternative product available from Code Partners.

  • I guess the standard procedure is to create a new company which is a copy of the old company, run the FYEC from Musick on the new company on it. In that case, should we have just one SYS company with two DAT companies, so we can play around with users and restrict all but the admin type users from the old company? I'm thinking that is better than having two sys and two dat files.