Version 10 - Using period 13 for adjustments at yearend

First question - I've been asked to look into using period 13 for adjustments at yearend this year. I'm not sure we can do this when we already have our companies setup for 12 periods. Are we able to use period 13 even though we are not setup for 13 periods? Has anyone been able to update their company setup after years of only using 12 periods?

Second question - If we are able to use period 13, how would we use it to manage adjustments at yearend?

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Infor Lawson Financials Group - Discussion

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unknown

Hi Sally, we actually have the opposite problem - we used period 13 many years ago, but no longer use it and desperately want to get rid of it. We have been told that you can't really update your fiscal period setup without a significant amount of cost and effort. How would you use period 13? Well, we used it years ago to do some reclasses in balance sheet accounts...sort of a parent/child thing, or maybe like sub-accounts but not using Lawson sub-accounts. We wanted the "child" to start the new year at $0, but we still needed to see the full amount for last year. So you do the reclasses in period 13, then you get the full year in periods 1-12, and you have your $0 balance starting in period 1. That was YEARS ago and we don't do that anymore. But now we are stuck with period 13, and we don't like it because any period 12 journal entries that are set up as reversing (i.e., accruals) will automatically go to period 13. Then it takes a lot of effort to get them either netted back out of period 13 and moved to period 1 of the next year, or just straight up moved (you can't unrelease/change post date/release in the new period because it is a system-generated entry!). We finally set up Smart Office to prevent that on GL40.2 for anyone doing manual journal entries - if it is period 12, the auto-reversing period field is required, and users put 1 in it. But if you interface journal entries into GLTRANSREL (GL65/165 process), it doesn't have the functionality to set a specific reversing period like you can with GL40. I tried convincing Lawson to add that, did ER requests, etc., but never could get them to fix it. That is a major thorn in our side every year-end. Just wanted to share that too in case that might be an issue for you.

lila-elizalde

Hello Sally

Normally Period 13 is used for other industries, not for healthcare as it has affectation on calculations . there are several KB articles that can provide you an idea of the implications. one of those KB is KB 1193939, for pros and cos you can look at KB1209956

Published KB

KB 1209956

for healthcare is better to remain in 12 periods. I would recommend you to close with limited status , to allow for adjustments at year end or audit adjustments ( allowing for opening the period for adjustments). having into consideration that when the new year is near to year end close you will have to close the prior year in final status. in other words if you close limited 2020 , when year 2021 is on the last period, it will give you a message that you must close 2020, in order for the system to close period 12 -2021 and be able to roll for 2022. this way later show that 2021 will remain in limited and you will be working on 2022. hope this make sense

sally-schlichter

Thanks Jason - this is helpful. It sounds like the kind of transactions we would want to use period 13 for also.

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