Adding Periods to a Calendar
Add accounting periods to your calendar to define the number of periods in the calendar year. You can add periods to a calendar at any time. Your calendar can contain both adjusting and non-adjusting accounting periods.
When you add periods, keep in mind these important rules:
- There can be no gaps between non-adjusting accounting periods. If you leave gaps between any accounting periods, General Ledger will report an error.
- Accounting periods cannot overlap, except for adjusting periods. If any of your non-adjusting accounting periods overlap, General Ledger will report an error.
- Adjusting periods must overlap non-adjusting periods.
- Period ordering must be based on the period starting dates.
Note: You cannot perform foreign currency translations for the first accounting period in a calendar. You must define at least one period preceding, as well as the period immediately following, the first period for which you will perform translations.
To add periods to your calendar:
1. Navigate to the Accounting Calendar window.
2. Enter or query the Name of the calendar.
3. Enter a period Prefix for each accounting period. General Ledger combines this prefix with the year to create the period name. For example, you can enter Jan, Feb, Mar, etc. or Period1, Period2, Period3, etc.
4. Enter the period Type.
When you define a set of books, you assign it a period type. When you assign a calendar to a set of books, only the periods with the corresponding period type apply. Thus, you can define an accounting calendar with periods of more than one period type; however, each set of books will only use periods of a single period type.
5. Enter the Year of the accounting period. This is the year in which your fiscal year ends. For example, if your fiscal year begins in 1994 and ends in 1995, enter 1995 for all periods in the fiscal year.
6. Enter a number to specify which Quarter of your fiscal year your accounting period is in. General Ledger uses this number to determine how your accounting periods roll up for quarter-to-date balances.
7. Enter the Number of the period within the fiscal year. Be sure to number your accounting periods sequentially, based on the period starting dates you specify in the From/To range.
8. Enter the range of dates (From and To) when the accounting period begins and ends. Use the date format DD-MON-YYYY (for example, 01-OCT-1994).
General Ledger automatically creates and displays a period Name for each accounting period. The name consists of your period prefix and the last two digits of either your calendar year or your fiscal year, depending on the year type you assigned in the period type definition. General Ledger displays the period name whenever you choose an accounting period.
9. If you choose to make an accounting period an Adjusting period, it can overlap the dates of other accounting periods. For example, you can define a period called DEC-94 that includes 01-DEC-1994 through 31-DEC-1994. You can also define an adjusting period called DEC31-94 that includes only one day: 31-DEC-1994 through 31-DEC-1994. Both your adjusting and non-adjusting periods should have the period type associated with your set of books.
Adjusting periods apply only to General Ledger. They are not used in Oracle feeder systems, such as Inventory, Payables, Purchasing, and Receivables. Note also that you can only import journals into non-adjusting periods. Finally, if you have average balance processing enabled for a set of books, General Ledger will ignore adjusting periods.
See Also
Defining Period Types
Defining Calendars
Changing a Calendar
