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2/22/2013 5:01:53 PM
Access Fiscal Year Seminar
By Richard Rost   Richard Rost on Facebook Richard Rost on Twitter Richard Rost on Google Plus Richard Rost on LinkedIn Email Richard Rost
 
Well, I wasn't planning on making this a seminar, but at least three different customers asked me about this over the past two weeks, and one of them really needed to learn how to do it, and he submitted it as a PAID TechHelp question. So... I decided to turn it into a short seminar.

This Fiscal Year Seminar will teach you how to perform calculations in your Access databases based on a company's fiscal year. You will...

1. Learn how to calculate a simple fiscal year (starting 6/1, for example)
2. Create sales totals with an aggregate query or report grouping
3. Calculate fiscal year not based on the 1st of a month
4. Determine fiscal year for multiple companies in the same database

You can watch the free introductory and review lessons, and learn more about this seminar here: Microsoft Access Fiscal Year Seminar

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Course Link: Access Fiscal Year Seminar
Keywords: access fiscal year seminar
Page Tag: whatsnew
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When your fiscal year starts Comment from Bruce Reynolds @ 3/21/2013
The VBA function as defined in 06:26 of this video may not be taking the valid approach. I think the function should be redefined as follows:

Public Function MyFiscalYear(DateIn As Date) As Integer

    MyFiscalYear = Year(DateIn)
    
    If Month(DateIn) > 5 Then
       MyFiscalYear = MyFiscalYear + 1
    End If

End Function

This way, if the fiscal year BEGINS on June 1st, 2012, then you are STARTING fiscal year 2013.


Reply from Richard Rost:

Bruce, that is a perfectly valid argument. It all depends on your needs and when your fiscal year starts. I've had clients who had their fiscal year 2012 run from 6/1/11 to 5/31/12, and I've had others that defined FY 2012 as 6/1/12 to 5/31/13. It's all up to you and how you want to define it for your business.

The Federal Government, for example uses a FY that ENDS in the current year, so FY 2013 is from October 1 2012 through September 30 2013. It runs from October 1 of the PRIOR year through Sept 30 of the current year.
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This VBA function works Comment from Bruce Reynolds @ 3/21/2013
This VBA function works EXACTLY the same way in Excel. I got two for the price of one!!!


Reply from Richard Rost:

You mean the PMT function? Yeah, it's the same function. Excel does have some additional financial functions that Access doesn't have (for the real financial nerds) but the important ones are included in Access.

Oops... ignore my last comment. I've been working on another seminar dealing with loan amortizations and I was thinking that you were talking about the PMT function... not this FY function we created in class... and YES, it works in Excel too. :)
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search in list box Comment from soorajsen foolell @ 3/4/2013
what would happen if an accountant has only 2 clients but with different fiscal years and he has to search a company by name in a list box.


Reply from Richard Rost:

Searching for a client using a COMBO box is a whole different tutorial. I cover that in my Access Beginner 8 class. If you want even MORE options for searching, take a look at my SEARCH SEMINAR.
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Fiscal year should have begin with opening day and Comment from soorajsen foolell @ 3/4/2013
Fiscal year should have begin with opening day and closing day .
Like #1/1/2012# (opening day) and #31/12/12# ( closing day)  also.

How would you navigate  the opening and closing day with Date Time Picker.


Reply from Richard Rost:

Well, you wouldn't need to specify the closing day. You can infer it as one day less than the start of the next fiscal year. No need to store both values.
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Better way to design table Comment from Soorajsen Foolell @ 3/4/2013
CREATE TABLE  Order

(OrderId AUTOINCREMENT (1,1)  PRIMARY KEY ,
OrderDate DateTime NOT NULL,
,
Amount  CURRENCY
)
Here i have created an order table with query and tested with access 2010 , it works!


Reply from Richard Rost:

Oh, sure. This is definitely possible. In fact, I cover this in part 3 of my SQL SEMINAR. However, I wouldn't say it's a "better" way to create a table. It's a good option if you need to create temporary tables, or want to allow the user to add a table on the fly without having to know anything about Access design. However, for the average Access user I would still recommend sticking with the good-old table designer.
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Comment from soorajsen foolell @ 3/4/2013
Each company name should be unique for each fiscal year.
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Better way to design table Comment from soorajsen foolell @ 3/3/2013
Better way to design table is with the use of query , it gives you more power and control over your table.


Reply from Richard Rost:

I don't understand what you mean. How do you design a table with the use of a query? Can you please explain in more detail?
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Fiscal Periods Comment from Jerry @ 2/26/2013
Perhaps you know it as 4-4-5_Calendar?
See the following reference:
http://en.wikipedia.org/wiki/4-4-5_Calendar



Reply from Richard Rost:

Ah, yes. This is another perfectly valid method of calculating a fiscal year. It's not as commonly used as a simple fiscal year, but if enough people are interested in seeing this method, I can certainly put something together as an addendum to the seminar. It's a lot more difficult to calculate, but it's certainly doable.
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Fiscal Periods Comment from Jerry Parkinson @ 2/26/2013
Access Fiscal Year:
Why does this not calculate fiscal periods first and then calculate other fiscal data from that?



Reply from Richard Rost:

I don't understand the question. Can you elaborate?
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