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Dear all,
I now have 12 periods in a fiscal year. But i need to create a financial report for Q2/2014. That means i made a wrong decision setting up the administration. Can i change from months to quarters or is there another way of creating tax views for quarters when you have set up months as periods?
Thank you very much for your replies!
Kind regards,
Jeroen Hermans
Hello Jeroen Hermans,
My 1st question would be "did you made any transactions yet, like paying invoices etc etc"? If yes then my solution wont be useful. As per my understanding we cannot convert montly to quarterly periods .If try to do so it will throw constrain error.
So Following steps should be useful to build quarterly periods-
1. Go to accounting->configuration->periods->periods->Delete all your periods of particular Fiscal year i.e 12months in your case.
2. Now Go to accounting->configuration->periods->fiscal year->for same Fiscal year click on 3months period button
3. Now quarterly periods successfully created.
You may have monthly periods to post journal entries, and quarterly periods to financial report, chart taxe, etc.
Accounting - Configuration - Fiscal Years
Click in 2014
[Edit]
In column "Period Name" click in "Add an Item"
Complete:
- Period Name: Q1/2014
- Code: Q1/2014
- Star of Period: 01/01/2014
- End of Period: 03/31/2014
- Opening/Closing Period: TRUE <----!!!
[Save & Close]
This solution wont work. Eediting period wont transfer your balance from monthly to quarterly period. example- Initially my Fiscal year look like- 1. Opening Period 2014- starting period :01/01/2014 , ending period:01/30/2014 which is a monthly period *Now i create a invoice for period 03/2014 (invoice date 3/30/2014) * I go to journal entries and open records for period 3/2014 *it shows me the records Now when i will follow your steps: 1.I edited Opening Period 2014 starting period :01/01/2014 , ending period: 03/30/2014 2. Now i go back to journal items and tried to view records for period 01/2014(edited one) But i couldn't see any record for my invoiced date 03/30/2014 3.Now if i open journal items for period 3/2014 then i can see my invoiced records. 4. same thing happen when i check the charts of accounts. Hence modifying the periods date wont move your transactions.
Ok, i figured this out and i wanted to document this for future reference.
I am still using months as periods for posting entries in the journals, but when i go to Accounting ‣ Reporting ‣ Generic Reporting ‣ Taxes ‣ Taxes Report i can select the months (periods) that need to be in that report. That totally solves my specific problem. Thank you for your support!
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Hello Shashank, Indeed i have already booked half a year of invoices. I propose the following for my solution: - for Q2, Q3 and Q4 2014 i add the three months together with a handcalculator (5 minutes extra work) - when i create 2015, i add the 3 month periods, so that this goes well in 2015 Is that a good solution? I then donnot have to recreate this year and fill out everything again. Kind regards, Jeroen Hermans
Hello Sebastián Cuesta, i can indeed create a Q1/2014, but when i generate a report, nothing is in it (as all journals are booked in the periods 1/2014, 2/2014, etc). Am i missing maybe an option here? Thank you for your reply.
@Jeroen: Another solution could be transfer all your amount of 2014 as opening balance for year 2015. And then for 2015 you can create periods quaterly