What Happens When I Change a Fiscal Year or Period?

You can change the current accounting period, fiscal year, or both for a general ledger company. You change a fiscal year or period by running Fiscal Year Change (GL500). Running this program:

  • adjusts all account balances, transaction history, and budget information to correspond to the new accounting period and fiscal year

  • updates company information that displays on the Calendar form tab on Company (GL10.1)

  • recalculates retained earnings for the new fiscal year beginning balance

  • recalculates beginning balances for the new fiscal year

Fiscal Year Change (GL500) does not perform any of the following items:

  • calculate beginning balances for budgets

  • recalculate any period data stored in Project Accounting

  • adjust for a thirteenth period, consisting of a single day, used for audit adjustments

  • update currency translation rates defined in Currency Table Translation Rates (CU20.1) for a currency table that is assigned to a company

Files Updated by Fiscal Year Change (GL500)

The following table lists the database files that Fiscal Year Change (GL500) updates.

File File name
Allocation Header CAHEADER (for UNIX/Windows) DBGLCAH (for IBMi)
Allocation Transactions CATRANS (for UNIX/Windows) DBGLCAT (for IBMi)
Checkpoint Restart CKPOINT (for UNIX/Windows) DBLACKP (for IBMi)
Currency Amount CUAMOUNT (for UNIX/Windows) DBGLCAM (for IBMi)
Budgeting Detail FBDETAIL (for UNIX/Windows) DBGLFBD (for IBMi)
Budgeting Header FBHEADER (for UNIX/Windows) DBGLFBH (for IBMi)
General Ledger Amounts GLAMOUNTS (for UNIX/Windows) DBGLGAM (for IBMi)
General Ledger Control GLCONTROL (for UNIX/Windows) DBGLGLC (for IBMi)
General Ledger Account Master GLMASTER (for UNIX/Windows) DBIFGLM (for IBMi)
General Ledger Company Journal Entry GLSYSJE (for UNIX/Windows) DBIFGSJ (for IBMi)
General Ledger Company GLSYSTEM (for UNIX/Windows) DBIFGLS (for IBMi)
General Ledger Transactions GLTRANS (for UNIX/Windows) DBGLGLT (for IBMi)
General Ledger Units GLUNITS (for UNIX/Windows) DBGLGLU (for IBMi)
Recurring Journal Control RJCONTROL (for UNIX/Windows) DBGLRJC (for IBMi)