Dealing with different financial calendars in companies
Created by Pavel Kabir, Modified on Thu, 05 Oct 2023 at 05:50 PM by Gabriel Michaud
Velixo Classic version 7.0.874 and newer adds proper support for reporting on companies with different financial calendars, and building consolidated reports for such companies.
Using the new function arguments (UseMasterFinancialCalendar in GL/PM functions and the Company argument in FINANCIALPERIOD... functions) requires publishing the new Generic Inquiries that supporting the new functionality:
These inquiries are available as part of our updated ERP Customization Package. To add these inquiries, contact your ERP administrator.
If you try to use the new functionality without having the inquiries published, you will see an error message that guides you towards the current help page:
Master financial calendar support is not set up on your ERP instance. Please leave the argument blank. To learn more, go to velixo.com/help/calendar
|❗ Velixo NX does not support this functionality at the moment. It will be added in the upcoming release.|
Velixo behaviour prior to the update
GL / PM balance formulas
Historically, when you requested e.g. an ACCOUNTENDINGBALANCE, it used the company's own calendar to retrieve the balance value. For example, if you specified the financial period argument as "12-2024", and that financial period corresponded to August in the company's calendar, you would receive the value for August.
Unfortunately, that also meant that if different companies had different financial calendars (for example, some started their financial year in September, some in January, and some in October) - when you used an ACCOUNTENDINGBALANCE formula for 12-2024 and omitted the branch/company parameter, it would aggregate different calendar months together, which makes no business sense.
Prior to the update, the only workaround to build consolidated reports for companies with different financial year structure was to write separate balance formulas while specifying the financial period argument in such a way that for all those formulas, it corresponds to the same calendar month.
For example, if you had two companies, COMPANY1 starting its financial year in January, and COMPANY2 starting in September, you would have to write the following consolidating formula for August:
=ACCOUNTENDINGBALANCE(..., "COMPANY1", ..., "08-2024", ...) +ACCOUNTENDINGBALANCE(..., "COMPANY2", ..., "12-2023", ...)
On the other hand, and perhaps a somewhat counter-intuitively, FINANCIALPERIOD... formulas were always working with the master financial calendar of the Acumatica tenant and were not aware of any shifts in the company's financial calendar.
For example, if you used FINANCIALPERIODENDDATE("12-2024"), you would always receive "12-31-2024" and would have no way of requesting the end date as per the company's calendar. In the example above for COMPANY2, the end date of "12-2024" should be "31 August 2025", but you had no way of retrieving that value through Velixo.
New functionality brought by the update
Easier consolidating GL / PM balance formulas
First of all, GL/PM balance functions such as ACCOUNT...BALANCE, ACCOUNTTURNOVER, ACCOUNTS...HISTORY, PROJECT...QUANTITY, PROJECT...AMOUNT now support an additional optional argument: UseMasterFinancialCalendar that significantly eases consolidated reporting on companies with different financial calendars.
💡 The new argument's default value is FALSE, and it is completely optional, so all your reports will continue working as previously.
However, by setting it to TRUE, the two-company example above can be simplified to just:
=ACCOUNTENDINGBALANCE(..., "COMPANY1;COMPANY2", ..., "08-2024", ..., TRUE)
This would retrieve the balance value using the master financial calendar, where 08-2024 means "August 2024" regardless of the company.
Easier financial period arithmetic using FINANCIALPERIOD... formulas
On the other hand, formulas like FINANCIALPERIODENDDATE have obtained a new optional Company argument, which allow you to do period arithmetic using a specific company's calendar. In our hypothetical setup, the following formula:
will now return "08-31-2025".
Velixo Classic version 7.0.874 and newer is proud to finally bridge a long-standing gap between GL/PM formulas, which historically used the company's financial calendar, and FINANCIALPERIOD... functions, which historically used the master one. That produced inconveniences in multi-calendar environments.
With the new "UseMasterFinancialCalendar" and "Company" arguments you can finally build both consolidated and per-company reports with ease!
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