[Question] Changing Periods in Partner 14

[wnsomba]

My apologies guys if this has been asked before, but I really need your assistance.

We are implementing a donor-funded project (we created a new company specifically for this project with Jan - Dec as our Financial Year). The donors now have directed to have the financial year starting Feb (and we have posted some transactions based on the setup which had Jan - Dec financial year).

How do we change this to satisfy the guys paying the piper as they have a different tune to the one we initially selected?

Thank you so much.

[Neville Bailey]

Just to clarify, you initially setup the financial year for the accounts to run from 1 January to 31 December, and now you need to change the financial year to run from 1 February to 31 January? And, in the meantime, you posted some transactions in January through to now?

If I am correct in my assumptions above, you have two options.

The first option, assuming you have not posted too many transactions to date, is to create a new database with the new financial year setup, and then recapture the transactions.

The second option, assuming there are a large number of transactions already posted, and it would be impractical to recapture them, is to do a datafix to correct the situation. I can assist you with this option.

Let me know if you would like to discuss the second option with me.

[wnsomba]

Just to clarify, you initially setup the financial year for the accounts to run from 1 January to 31 December, and now you need to change the financial year to run from 1 February to 31 January? And, in the meantime, you posted some transactions in January through to now?

If I am correct in my assumptions above, you have two options.

The first option, assuming you have not posted too many transactions to date, is to create a new database with the new financial year setup, and then recapture the transactions.

The second option, assuming there are a large number of transactions already posted, and it would be impractical to recapture them, is to do a datafix to correct the situation. I can assist you with this option.

Let me know if you would like to discuss the second option with me.

Hello Neville

I hope you saw my email. I am waiting to discuss the second option you offered me.

[Neville Bailey]

Hello Neville

I hope you saw my email. I am waiting to discuss the second option you offered me.

My apologies - I have just sent you an email.

[Kobie vd Walt]

Hi Neville –

I’ve experienced basically the same problem, as management just decided that one of the company’s affiliates year-end should change from February to June, but some transactions being posted up and until the 1st August’16.

Luckily for me, this company is not very active and only ± 3 transactions being posted.

Referring to your reply, option 1 seems to be the easiest, but as a newbie to Pastel I don’t know how to create a new database with the new financial year setup.

Could you please explain this to me in layman’s terms?

Thanking you in advance.

[Neville Bailey]

Hi Kobie,

Creating a new database in Pastel is quite straightforward if you follow the Setup Assistant. Go to File...New and then select "Use Setup Assistant" as the method.