Clarification on Updating Model Calendar for New Financial Year

Baskar

Hi Team,

Could you please let me know the impact on model data when updating the time setting (model calendar) at the start of a new financial year? Additionally, I would appreciate it if you could share the precautions I should take before updating the "Current Fiscal Period" field to reflect the new financial year.

Thanks for your support.

Best regards,
Baskar

devrathahuja

Hi @Baskar ,
If you change the fiscal year where you exclude a year currently in the model then you'd lose that data.

E.g - Current - Model calendar starts at FY20 with 1 year past & 1 year future data so FY19-FY21
If you just move it forward to start at FY21 now with the same settings then your calendar will be FY20-FY22 & you'd lose any data in FY19

In this case if you wanted FY19 as well you could change it by adding 1 more year to the past so your calendar becomes FY19-FY22 OR, if it is just for a few data modules, you can create a time range & use that in these modules.

Some precautions you should definitely take is copy the model first & try it in that, validate the figures with your original model & ensure everything looks okay & then replicate it in the original model.

Also save a copy of the model as archived version.

Hope this helps! :)