Is it possible to change the accounting period during the
financial year? For eg change it from 12 to 13 months ?
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Answer / vidhya m. chandra
No, Once Calander is set for 12 months we cannot change it.
If you change one "C" you will have problem in SOB.
| Is This Answer Correct ? | 11 Yes | 1 No |
Answer / naveeng1309
No.once you create calendar with 12 periods and assigned it to your ledger, it is not possible to change. But if you want to use 13 periods calendar in the middle of the financial year, you have a flexibility to go with SECONDARY LEDGER in R12.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / mstapps
ok
in this adjestment period
what type of adjustment we will do
pls any explaine me
this quation asked in HCL
advance thanks
mst
mstapps@gmail.com
| Is This Answer Correct ? | 3 Yes | 3 No |
Answer / adam
I am a current ACCA student and doing lots of reading and
practises. Base ont what I know it possible to change priod
of accounts. They could be set for any time long according
to businesses preference provided that there is strong
ground for change and responsible authorities are informed,
e.g FSA- Financial Stadard Authority in the UK. When it
comes to Accounts periods, it is first crucial to elaborate
that it can not be set for more than 12 months period. It
is possible to have accounting period less than 12 months
but not more. For this reason I would say it is not
possible to change 12 months accounting period to 13
months. Accounting period is a period where profits get
ready to be charged for taxes.
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / deepthi.cheers@gmail.com
No it is not possible, once you define 12 accounting periods you cannot change it, but if you want you can add periods to accounting calender for next year.
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / apps student
Yes. Accounting Period can be changed from 12 to 13. It is
done only when you have adjusting entries at the end of the
financial year. In 13th Month of Financial Year. period
Start date and end date both will be 31st Dec & 31st Dec.
| Is This Answer Correct ? | 6 Yes | 8 No |
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