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Retail Calendar and 13th Period
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Financial Management
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Retail Calendar and 13th Period
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Adam
Basic Member
Posts: 4
3/16/2012 2:47 PM
We are trying to deal with this 53rd week and we know GL can handle a 13th period, but when we contacted Lawson and they advised us not to turn on the 13th period, but offered no other suggestions to deal with it. I was wondering if there were any retail clients dealing with a 13th period or a 53rd week in Lawson?
Bill Ianni
Veteran Member
Posts: 111
3/21/2012 4:15 PM
Split
The 13th period is typically used as an adjustment period (i.e. adjustments of an annual nature that you do not want reflected in period 12 results). I'm not sure why Lawson advised you to avoid it as this would work perfectly for your needs. I can tell you that that this functionality has been around for quite a long time and has been thoroughly field tested. I suggest you prove out your requirement in a test environment. Make sure your test scenario includes both a limited and final close of the year, and that you validate your P1 beginning balances.
Joseph Carfagno
Basic Member
Posts: 10
4/5/2012 3:43 PM
Split
My understanding is that once you create a 13th period, you'll continue to have the 13th period for every year after that. So unless you want to have 13 periods every year, I'd proceed cautiously.
Adam
Basic Member
Posts: 4
4/5/2012 4:36 PM
Split
Thanks for the advice Bill and Joseph, I really appreciate taking time for this. A lot of our problems mainly have to do with reporting. Since we are on a 4-4-5 Calender the 13th adjustment period we would have to designate at least one day or week out of the year for that period, so that would solve how we store the data but then comparing year over year or Quarters would be nightmare do to calendar shifts. Plus like Joseph said once you turn it on you have to go back a year too...so we would have to "re-close" the previous year.
Once we realized that the biggest problem is reporting, I came up with idea of using budget versions to store the different cuts of the 13 period or 53rd week. So we can store actuals and the budgets in these budget versions. So all we just need to do is to keep track what budget version stores what information.
I know I can't be the only one out there dealing with this, so I hope this thread helps somebody out there.
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