Two accounting periods in one company

Business Central/NAV Technical Forum
1

Hi,

My one of the client wants to maintain two accounting periods in single company.

for example Indian fiscal year is from 01 Apr 2014’’ to 31 Mar 2015’’ and US fiscal year is from ‘‘01 Jan 2014’’ to '‘31 Dec 2014’.

He wants Balance sheet for both Account periods. Is it possible to develop ? and is it right to develop such requirement in Navision 2009 ?

Pls give suggestions.

Regards,

Ajit.

2

Hi Ajit,

There is only one accounting period in Dynamics NAV .

ITs a clear development task or sounds like rather a reporting effort.

g.

3

It it not possible as logically every company has one accounting period and its reporting can be done in two different currency.

It is better you can create another company and setup it according to US accounting period

If you are trying to maintain two different accounting period in one company then it will be huge task for development as lot of parameters need to take care specially transactions,reporting and How user will select accounting period while data entry and posting.

4

In fact, standard Navision accounting periods functionality is next to nothing [:P]

The design is based on Posting Date of each transaction, plus closing entries are marked with so-called ClosingDate (“C” in front of date value in Native DB, which is not possible in SQL, there it is solved in a weird way - time part for “normal” dates is 00:00:00:000, but “closing” dates have 23:59:59:999)

Many other ERP systems have additional field Accounting Period (e.g. 2014-01, 2014-02 and so on) for each ledger entry, such approach allows:

  1. to separate Posting Date from the period to which the transaction belongs
  2. more important - special periods can be added.

Usually 2 additional special “periods” are added - one for all FY closing operations, another for posting possible corrections made AFTER the FY is closed and balances prepared, but auditors request some changes to be made.

I had a potential client who requested such functionality, when we evaluated the amount of mods to be made we ourselves advised them not to choose Navision, but instead go for Oracle or JDEdwards or whatever else where this is in standard, as Navision modification cost was likely to exceed standard pricing several times…

Of course, TWO accounting periods no system supports out of box, but adding second where the main one already exists is much less time and cost consuming.

5

Thanks to all of you for your guide lines…

I will try to prepare balance sheet on the base of date filter from ‘‘01 Jan to 31 Dec’’ through the report.