Fiscal Year Maintenance

Fiscal Year Maintenance - Fields

Fiscal Year

Enter the fiscal year for maintaining period-end information. Current fiscal year period information initially displays when you access Fiscal Year Maintenance. Click the Lookup button to list all years.

The current fiscal year is initially set up during new company setup using the General Ledger Setup Wizard. It is only necessary to set up period information if the ending dates change each year or if future years need to be maintained. For more information, see Change Fiscal Year Periods and Create a Fiscal Year. Year-end processing automatically creates the next fiscal year using the current fiscal year as the default, if the next fiscal year has not already been manually created.

Click Recalculate to recalculate the general ledger, sales order recap, item balance, and history information for any changes made to the fiscal year record. For more information, see Recalculate Item Balance and History.

Number of Accounting Periods

Enter the number of periods for the fiscal year. The number entered cannot exceed 13.

Period

This field displays the available periods based on the number of accounting periods defined and can only be viewed.

Starting Date

This field displays the starting date for each period automatically based on the number of periods, the fiscal year, and the first day of the month for the current year. When a period's ending date is changed, the next period's starting date is automatically recalculated based on that value. This field can only be viewed.

Note The starting date can be changed only if the current fiscal year is the only fiscal year in the Fiscal Year file. If you attempt to change the default starting date and there are transactions prior to that date, the change is not allowed.

Ending Date

Enter the appropriate ending date for each general ledger accounting period. The ending date for each period displays automatically based on the number of periods, the fiscal year, and the last day of the month for the current year but can be changed. If you change an ending date for Period 1, you can click the Calculate Dates button to recalculate the remaining period ending dates automatically.

Note If the number of accounting periods defined in the Number of Accounting Periods field is changed, the period numbers and the starting and ending dates are adjusted automatically. Be sure to enter the correct period-ending date for each accounting period.