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A fiscal year displayed on the grid is the entire fiscal year (period) for which transactions can be posted. You may have more than one fiscal year opened simultaneously but only one fiscal year can be current. An open fiscal year allows you to post transactions that contain dates within that year. The current year can be an open or closed fiscal year (you do not need to re-open a fiscal year to make it current).
If migrating When you migrated from Classic, Classic's current fiscal year and capitalization criteria will be imported and will appear was used during import and appeared on the Fiscal Years grid. For example, if my your 'last year closed' in Classic EIS is 2020 was 2021 (which means Iyou'm re currently in FY2021FY2022), upon import after migrating to RedesignInventory, the current and open year displayed on the grid will be 2021Fiscal Years grid is 2022. It will also import imported the dollar and life limit from Classic's EISMNT>DATSCN and display displays them on the grid. Any period prior to the Classic current fiscal year is considered an archived period and is not be displayed in the Fiscal Years grid upon migration.
Creating a Fiscal Year/Open Period
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Please do not create or open fiscal year periods prior to the year you migrated from Classic. Any year prior to the year you migrated is considered an archived period and should not be created in Inventory. If archived periods were inadvertently created and/or open prior to the year you migrated, please do not close the archived fiscal years since it will affect beginning balances and depreciation values. INV-397 is scheduled for the 1.36.0 release which will prevent the creation and opening of archived periods and will automatically mark the archived periods created as closed. |
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