Connected Business has allowed for the event that the company would change the length of the fiscal year e.g. shorten or lengthen the fiscal year when they have come to a point when they need to change their fiscal year. Note ‘Closed and Current Periods’ cannot be amended or deleted.
1. From the Accounting module, go to Setup > Account Period. The Accounting Period setup form will display.
2. By default, the current fiscal year is displayed.
3. Delete the period you do not want to be part of that fiscal year. Start deleting a period from the last open period
Note: The system will only allow you to do this if the period that you want to delete is not yet closed nor current period. If the period is already closed or current, you can no longer edit it. When you delete a period, it will automatically move to the next fiscal year. A period can be deleted as long as it is a future period. Journals in the unposted file will be updated with the new period or the next available period.
4. Click on the Delete Period option. Choose Yes in the prompt to delete.
5. Once done deleting all needed open periods. Save the changes.
All Interprise Suite and Connected Business Versions