moving subsidiaries to a new fiscal year

AI generated answer (using internal Slack threads):

Based on the conversations, moving subsidiaries to a new fiscal year in NetSuite involves creating a stump year. This is a short fiscal year that is created when a company changes its fiscal year-end. The stump year serves as a transitional period between the old and new fiscal year-end dates. Here is the process: 1. Create a new fiscal calendar with the desired fiscal year-end date. 2. Assign this new fiscal calendar to the subsidiary. Please note that changing the fiscal calendar will impact the subsidiary's reports and the date when Retained Earnings roll. The reports for that subsidiary will show the new fiscal year-end date, and Retained Earnings will roll based on that date too. When moving from one accounting period to another, for example from Jan-Dec to Feb-Jan, it's important to manage the Retained Earnings roll. You should have three fiscal years - Jan-Dec, Jan, and Feb-Jan. For more detailed information, you can refer to this NetSuite Help Center article: https://netsuite.custhelp.com/app/answers/detail/a_id/64431/kw/change%20fiscal%20year ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******