Create a calendar to define an accounting year and the periods it contains. You should set up one year at a time, specifying the types of accounting periods to include in each year. Defining one year at a time helps you be more accurate and reduces the amount of period maintenance you must do at the start of each accounting period. You should define your calendar at least one year before your current fiscal year.
You can define multiple calendars and assign a different calendar to each set of books. For example, you can use a monthly calendar for one set of books, and a quarterly calendar for another.
Carefully consider the type of calendar you need for your organization, since it can be difficult to change your calendar (e.g., from a fiscal year to a calendar year) once you've used it to enter accounting data. Changing your calendar may require assistance from an Oracle consultant.
Define your accounting period types
To define a new calendar:
1. Navigate to the Accounting Calendar window.
2. Enter a Name and Description for the calendar.
3. Add the periods that make up the calendar year.
Defining Period Types
Adding Periods to a Calendar
Changing a Calendar
Defining Transaction Calendars