Moving from Fiscal year end to Calendar year end

  • 25 May 2023
  • 2 replies



Does anyone have any experience in shifting from a fiscal year end to a calendar year end?  Right now our Fiscal year is from May 1-April 30, and we started the new fiscal year in May.  So we need to do a year end close for May and then open a new calendar year for June-December.  Not sure how we do it seeing as we just closed 2023, and will be closing for 2024,and the going back and being open for June-December of 2023?

Any help would be appreciated!!!

2 replies

Userlevel 2


  • you adjust your fiscal calendar (you may need to delete some fiscal years and/or periods first).
  • After the calendar is updated, then you run the program called “Verify Balances”, which looks at the “apply date” on GL transactions and your now updated Fiscal Calendar to update what fiscal period/year the transactions are in, and recalcs the balances for the relevant fiscal periods.
  • As always, do in a test database first.

From Help:

Verify Balance Records Process

Use the Verify Balance Records Process to verify that your balance records are accurate. This is done by recalculating the balance from the transaction details and comparing them to the existing balance records.

You can also use the Verify Balance Records Process to rebuild balance records if they become inaccurate, or if the balance setup changes. After determining your selection criteria and executing the program, a report is created that records the results.

We did this several years ago and we created a short year for the period to get us to 12/31. So for example, since you are doing it for 2023, you would create another Fiscal year 2023 with the suffix of A for the months for the remainder of the calendar year. This was how Epicor recommended we do it.