Changing GL Fiscal Year to Calendar Year - Has Problem and Need Help

Dear all,

We are to adjust for the new fiscal year to calendar according to NOTE ID 102460.1. We have deleted the future periods that does not follow the new fiscal year.
However we have stalled in setting up the current fiscal year due to the encumbrance period is already open for the period.

Following is our current and future state:

1) Current State fiscal year is defined as Jun to Jul .i.e Jun 2011 to Jul 2012.
2) New fiscal (Future State) year is to be defined as Jan to Dec .i.e Jan 2012 to Dec 2012.
Our Board of directors has instucted the company new fiscal/calendar year to begin EFFECTIVE JAN 2012 (just around the corner).