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Frequently asked Question Topics:
See also Fiscal Year End Change Literature
Installing Fiscal Year End Change
1) Download and save DataCHECK or FixIT Pro from our website. Do not run the
installation from the website.
2) After downloading, right click on the download and "Run As Administrator".
3) Select a different default installation folder. "C:\FixITcc"
4) On the initial startup of FixIT, go to the folder where FixIT is installed
and "Run As Administrator".
5) From the Maint. screen, activate DataCHECK/FixIT
6) Verify the connection to the Company database on the "Validate" screen.
7) From the folder where DataCHECK/FixIT is installed (C:\FixITcc), run the "FiscalYearEndChangeInstall.exe"
install.
8) Launch the Fiscal Year End Change from the Windows Start Menu - Musick
International - Fiscal Year End Change
Before running this utility, it is recommended to print several Trial Balance
reports for comparison.
The changes made by this utility can not be undone. Please make a backup of the
data before proceeding.
All of the sub-ledger applications are also shifted to reflect the new Fiscal
Calendar.
DataCHECK/FixIT does not have to be running to use the Fiscal Year End Change
Utility.
G/L Segment Codes that are setup to use a "Closing Account" may be selected in Fiscal Year End Change to close to retained earnings.
All years of history in General Ledger and all sub-ledgers are changed by Fiscal Year End Change.
Fiscal Year End Change will not create a short (stub) or long year in the Sage Fiscal Calendar. Sage Fiscal Calendar requires all years to have the same number of periods and all start and end dates must be consecutive.
How to run Fiscal Year End Change utility
Start the Fiscal Year End Change Utility. FiscalYearEndChange.exe
Select the company from the drop down list.
Verify the Company and Fiscal Calendar information is correct.
In the "Yellow Field" enter the number of periods to shift the year end.
To move the year end forward, check the box to close the current year end in the
General Ledger.
The display will show how the fiscal year end will change.
Once the proper new year end is selected, click the "Change Year End" button to
change the database.
The utility will prompt for a backup.
After the utility has completed, the log file of changes is displayed.
Verify the General Ledger Trial Balance for correct closing balances.
Period 15 net amount does not equal to ... posted transaction record(s) after runnig FYEC
Applies to Sage 2019 (v6.6) PU4 and Sage 2021 (v6.7) PU1.
After running Fiscal Year End Change, the Sage General Ledger Data Integrity reports errors for "Period 15 net amount does not equal to zero when there is not posted transaction record(s) for fiscal set" or "Period 15 net amount does not equal to sum of all posted transaction record(s) for fiscal set"
The version of FYEC installed is not compatible with the Sage 2019 PU4 or Sage 2021 PU1.
Download and install the latest release of DataCHECK or FixIT/Fiscal Year End Change. Download Link
What is the best way to validate changes made by FYEC?
First some notes:
1) All years in the Sage Fiscal Calendar are changed to reflect the new
calendar.
2) If running a 4-4-5 fiscal calendar, all year/periods are shifted, but the
period start and end dates remain for each period.
3) General Ledger and all sub-ledgers have fiscal year/period changed for all
years of history. This allows for actual/budget comparison across years to be
correct.
4) Balance Sheet account balances will not change. The bank balance is still the
bank balance.
5) Income/Expense accounts for all years are re-closed and brought forward to
the current year.
6) Retained Earnings is re-calculated for all years and brought forward to the
current year.
To test and verify the company after running FYEC:
1) Review the Fiscal Year End Change Log file.
2) Verify the GL Trial Balance is in balance.
3) Compare the GL Trial Balance from the previous fiscal calendar and the new
calendar. Balance sheet accounts will be the same.
4) Inspect the Sage Fiscal Calendar period start and end dates to be correct.
5) Verify the "Current Fiscal Year" in GL Setup - Options.
6) Run the Sage GL Data Integrity. Everything must be in balance and no
errors on the Data Integrity report.
7) Print the GL Transaction listing for an income/expense account that has only
a few transactions.
Print the report in the previous
fiscal calendar and the current calendar.
Verify the transactions dates are
correct between the two reports.
The fiscal year and period should
reflect the new fiscal calendar.
Some transactions will be moved to
the previous year and some added from the next year. (or reversed depending on
how the calendar is being changed.)
Trial Balance amounts wrong after running FYEC Validate by Date
When running Validate by Date, the FYEC depends on the Posting or Document
Dates being accurate.
If the dates do not match the associated fiscal year/period, the Trial Balance
will be off by these amounts.
Before running FYEC by date, run the "Align Dates" to set the incorrect dates to
the start date of the fiscal year/period.
Only G/L Posted Transactions and specifically only the posting or document date
are modified by the "Align Dates" feature.
Please refer to to the
Fiscal
Year End Change Literature and section "How to
create Sage Short/Long Year" for additional information.
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