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Anyoone any experience of changing dates of Financial year?

edited Jan 15, 2014 7:55AM in Accounting / ERP 5 comments

Hi,

We are about to change the start and end time of our financial year. So, previously we ran from Aug 1 to July 31 each year. But due to a change in circumstances we are going to extend the last financial year to run until Nov 30, then start from Dec 1 for each future year.

This means that FY2006-07 runs for 16 months !!!

I think it is as simple as just changing the Accounting Periods. We are not too worried about the long length of the 4th Quarter, and will of course be changing the adjust period.

But I wondered if anyone else had done this and if so, did you get any unexpected problems?? 

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