Changing the Fiscal Calendar

Although it’s rare, some businesses decide to change their fiscal calendar.To change the fiscal calendar, you need to receive permission from the Internal Revenue Service.

To implement changes to the fiscal calendar, you need to create a short tax year. A short tax year is a fiscal year that’s less than 12 months.

When you change the fiscal calendar, TireMaster uses a fiscal number to distinguish the short fiscal year from the new fiscal year. Typically, the number 1 identifies the short year and number 2 identifies the new fiscal year. TireMaster resets the number to 1, once both the short year and the new fiscal year of 12 periods are completed.

Note: To implement a short fiscal year, you need to get a security code from TireMaster Support.

To change the fiscal year

1. On the General Ledger menu, select Fiscal Calendar. The Fiscal Calendar screen appears.

2. In the Fiscal Year field, type the year that you want to turn into a short year.

Tip: You can also select the year by putting the cursor in the Fiscal Year field and pressing .

3. Select the last period for the year, and click Delete Period. The period is removed from the Fiscal Calendar screen.

Note: If you cannot delete the selected period, make sure no periods follow it. For example, if you cannot delete Period 12 of the year 2009 you first need to delete Period 1 of 2010.

4. Repeat step 3 to delete remaining periods that are not part of the short year.

5. To create the first period of the new fiscal year, do the following:

a. Click Add Period. The Date Range screen appears.

b. If you need to change the ending date, click and select a date from the pop-up calendar.

c. To change the fiscal number for the new fiscal year, click . The Security Pass Code screen appears.

Note: The value in the Number column distinguishes the short fiscal year from the new fiscal year on the Fiscal Calendar screen. When both the short year and the new fiscal year of 12 periods are completed, TireMaster resets the number to 1.

d. Type the security code provided by TireMaster Support and click OK.

e. To save your changes and exit the Date Range screen, click OK.

6. To add the remaining periods of the new fiscal year, do the following:

a. Click Add Period. The Date Range screen appears.

b. Verify the ending date is correct, and click OK.

c. Repeat steps a and b until the new fiscal year has 12 periods.

7. Close the Fiscal Calendar screen.