Our current model has been setup with a fiscal year end of 30 June in the model and the current budget cycle runs from 1 July 2011 to 30 June 2012. However, we now need to have a fiscal year end of 31 Dec and to plan for the budget period 1 Jan 2012 to 31 Dec 2012.
Due to the differing fiscal year ends this has created a complication in the modeling and we would like to change the fiscal year end of the model to 31 Dec.
- Will the change effect any of the data or modeling that has been setup currently?
- How long will it take to change the fiscal year end?
Once the change has been done we will still want to report on the data from 1 July 2011 to 31 Dec 2011, by ensuring that there is a version available that will report on these numbers.
We can change the fiscal year in the model, but the change is global in nature meaning that the fiscal year updates for all versions in your instance.
When we change the fiscal year, you do not lose any data, but additional months will be included in some of your fiscal years to ensure there is no data loss. Once the change has been completed, clients will need to confirm that the dates in the version administration screen correspond to the periods that should appear in the versions.
The change does not take long to complete. It is something that can occur in our 4 hour window, and it really only takes a few minutes for us to update.
If you still want to report on your old fiscal year, you will have to customize the time periods in your report to do this. You would have to customize time ranges with the months only (quarter and FY rollups would be in alignment with your new fiscal year) and subtotals.
If you decide that you want us to update your fiscal year, just send the request to support and we can make the update. If for any reason you don't like it, we can always change it back.