IntroductionThis article will describe how to setup a Fiscal Calendar. Fiscal Calendars can be set up well in advance of a new year.
Note: A Fiscal Calendar must be setup for the coming year before running Month End inventory for the last month of the year, fiscal or calendar. For example, if using a standard Calendar year, a Fiscal Calendar would need to be created before running Month End inventory for December.
If a Fiscal Calendar is not set up, the system will display an error when trying to run Start Period Inventory or Close Period functions, depending on whether the Advance on Start Inventory flag is enabled or not in Property>Administration>Property Preferences>Inventory.
Creating a New Fiscal Calendar
- Go to Property>Setup>Accounting>Fiscal Calendar.
- Click New, as per Fig 1.
Fig 1 - Creating New Calendar
- In the Fiscal Year box, type the year as a numerical value, such as 2014, as per Fig 2.
- In the Starting Date list, choose the starting date of Fiscal Period 1, as per Fig 2.
- In the Ending Date list, choose the ending date of Fiscal Period 1, as per Fig 2.
- Continue to enter the Starting Date and Ending Date for each Fiscal Period until fully completed.
Note: If using a Fiscal calendar (13 periods), please make sure dates are entered for all 13 periods, as opposed to 12 periods of a physical calendar. Also, please be aware that is using a 12 period calendar, the start and ending dates do not need to correspond to the regular calendar dates if the property so chooses.
- In the Inventory Cycle list, choose an Inventory Cycle for each period, as per Fig 2.
Note: If the property uses a single cycle, then there is only one to choose. Some properties use multiple cycles throughout the year (ie. Quarterly, Monthly, and so on). These cycles can be modified throughout the year in advance of Starting Inventory of the particular period(s).
Fig 2 - Entering New Calendar details
Note: The Period Closed check box is filled in automatically by the system when the period is closed, it is not selected manually by any user.
- Click Save, once all needed information is correct.