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How to: Set Up System Calendars and Accounting Periods

How to: Set Up System Calendars and Accounting Periods

For many companies, the fiscal year does not coincide with the calendar year. Fiscal periods can be measured in other units of time, such as months or quarters. For more information, see Calendar Setup, System Calendar, and Accounting Period GB.

You can set up system calendars and accounting periods to allow you to do the following:

  • Extend accounting periods to allow for different weeks, months, quarters, and years.

  • Switch between accounting periods and calendar periods.

  • Filter data that uses the following criteria:

    • Work date

    • Week

    • Month

    • Quarter

    • Year

  • Calculate formulas for account schedules based on related calendars.

  • Access an overview of accounting periods.

  • Access and print a report for accounting periods that do not follow the system calendar.

The following procedure describes how to set up accounting periods, but the same steps also apply to setting up system calendars. The difference in these procedures is that the Closed check box is not available in the System Calendar window for system dates.

To set up accounting periods

  1. In the Search box, enter Calendar Setup, and then choose the related link.

  2. On the General FastTab, in the Default Source Calendar field, select Acc. Period.

    Hh935804.note(en-us,NAV.70).gifNote
    For system calendars, you must select System in the Default Source Calendar field.

  3. Clear the check boxes described in the following table.

    Field Description

    Use System For Day Period

    Specifies if the day period information is retrieved from the accounting period calendar, instead of from the system calendar.

    Use System For Week Period

    Specifies if the week period information is retrieved from the accounting period calendar, instead of from the system calendar.

    Use System For Month Period

    Specifies if the month period information is retrieved from the accounting period calendar, instead of from the system calendar.

    Use System For Quarter Period

    Specifies if the quarter period information is retrieved from the accounting period calendar, instead of from the system calendar.

    Hh935804.note(en-us,NAV.70).gifNote
    If the check boxes are selected, these time periods are retrieved from the system calendar.

  4. On the Formatting FastTab, in the Acc. Period Calendar section, fill in the fields as described in the following table.

    Field Description

    Day Format

    Specifies the custom format property for period type Day when displaying dates using the accounting period calendar.

    Week Format

    Specifies the custom format property for period type Week when displaying dates using the accounting period calendar.

    Month Format

    Specifies the custom format property for period type Month when displaying dates using the accounting period calendar.

    Quarter Format

    Specifies the custom format property for period type Quarter when displaying dates using the accounting period calendar.

    Year Format

    Specifies the custom format property for period type Year when displaying dates using the accounting period calendar.

    Hh935804.note(en-us,NAV.70).gifNote
    For system calendars, enter information for the display format in the System Calendar section.

  5. On the Navigate tab, in the Acc. Period group, choose the time period for the corresponding Accounting Period GB window.

  6. Fill in the fields as described in the following table.

    Field Description

    Period Type

    Specifies the period type for the accounting period.

    Period Start

    Specifies the starting date for the accounting period.

    Period End

    Specifies the ending date for the accounting period.

    Period No.

    Specifies the number for the accounting period.

    Period Name

    Specifies the name for the accounting period.

    Closed

    Specifies if the accounting period belongs to a closed fiscal year.

    Hh935804.note(en-us,NAV.70).gifNote
    You cannot modify the period information for the system calendar.

  7. Choose the OK button to return to the Calendar Setup window.

  8. Choose the OK button.

See Also

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