How to change the fiscal year in Logos
The only way in Logos to change fiscal years is to create a new data set and export your Chart of Accounts and Vendors from the old and import them into the new. This Help Article will walk you through these steps.
In this document, the Old Fiscal Year is referred to as Fiscal Year A (FYA) and the new data set with the new fiscal year as Fiscal Year B (FYB)
- Create a new Data Set name for the data which is defined by the old fiscal year dates (FYA). Example: ARCHIVE-DATA-FY1-12 (see Appendix A ); backup your current data from your live database (Data) and restore it to this newly created data set which clearly shows the fiscal year. (see Appendix B).
- Create a new Data Set for the New Fiscal Year (FYB) giving it a name which clearly illustrates the New Fiscal Year. Example: DATA-FY7-6: (see Appendix A); Make sure before doing anything else, you log into this new data set and update the fiscal year through File, Preferences, Settings.
- In the data set for the Old Fiscal Year (FYA), go into the logins and change access from the original data set (Data) to the new one: in our example: DATA-FY7-6. At the same time, create a new login for the ARCHIVE-DATA-FY1-12 data set (perhaps username: Archive, password: OFY (old fiscal year). The key here is you do not want anyone to log into the Old Data Set to update records once you have moved into the new data set. Updating these logins is also shown in Appendix A.
- In the FYA data set, export the Chart of Accounts (Appendix C) and Vendors (Appendix D) and then import them into FYB data set.
- You may update the monthly summary totals by exporting each month of your trial balance and importing each month of the trial balance. See Appendix E.
Create New Data Set
Log in using an administrative profile. Click on the System & Users Tab.
In the ribbon, select the Users icon. Then, click Maintain Users. Find the User profile you would like to use to access the new database, and double-click. Select ‘New Data Directory’ and enter the name in the field. There can be no spaces in the name. You cannot see them, but this data set I entered is actually named new_data_set_name.
After you enter the new data set name and click ‘OK,’ click on the ‘Data Sets’ button. This will list all of the data sets the User Profile you are in has access to. You may create a new User Profile that only accesses this data set, or you may add it to an existing user profile. This is where you would do so, by marking or un-marking the box next to the new data set.
Update Logins for the correct data set
Make sure you save the record before exiting.
When you are creating this database to define a new fiscal year: Log into the data set and go directly to File/Preferences/Settings and update your Fiscal Year. NOTE: This must be done before anything else. Here you may also choose if you want the Fiscal Year to be named for the first year in the series or the second year in the series.
Backup Files / Restore Files
- Click on the [System & Users] Tab and [Backup] in the Ribbon.
- Follow the prompts: Please note—this must be done once for the data files and once for the Security files. (see the box which says ‘Backup which files’ in the screen displayed below. There are two options: Data Files, Security Files)
- Let the backup go to the default directory; simply note the path so you can find it later.
Restore Files (this example is from LII but it is the same for all Logos Software)
- Log into Logos on the new computer. Click on the [System & Users] tab and on [Restore] in the Ribbon.
- Follow the prompts
- Browse to the folder where your backup is stored and click on the file then click Next then process.
To export your current Chart of Accounts from your live data set (FYA), in the General Ledger Tab, select Other Reports, the Chart of Accounts List
Export it to Excel 5.0.
Then, import it to your new data set (FYB) by logging into that.
Export/Import Vendor Master List
Export/Import Vendors doesn’t include any current or historic payment detail. It will just populate your vendors.
Export Vendor Master List from the old data set (FYA)
Import Vendor Records into the new data set (FYB)
Export/Import Trial Balance Total Summary
Export data from original database and import it into New Fiscal Year database
- Run the Trial Balance Summary for each month.
- Here you may choose to print a hard copy of the Trial Balance Summary (so you can manually enter each amount for each month for each account)
- Or Export the Trial Balance Summary to a CSV file for later import into the NEW DATA SET (FYB). If you choose to do this, you will have some manipulation to do before import:
- Add a column for the last date of the exported fiscal month and copy that date for every entry
- Sum together the Debits and Credits (column I (period_debit_...) + column L (period_credit…) and call this column fcheck_amount
- Reformat the fgl_num column as a number with 0 decimals
- If you go with b above, in the NEW DATA SET (FYB), set the active date to the date you put into the above transactions. Then, import the data.