12 Setting Up 52 Period Accounting

This chapter contains the following topics:

12.1 Setting Up 52 Period Fiscal Date Patterns

This section provides an overview of fiscal date patterns and discusses how to define fiscal data patterns for 52 period accounting.

12.1.1 Understanding 52 Period Fiscal Date Patterns

You set up your system for 52 period accounting using fiscal date patterns with weekly period-ending dates. You can use periods 53 and 54 for audit adjustments.

If you have multiple companies that use the same fiscal date pattern, set up the fiscal date pattern one time for all of the companies.

The system stores 52 period dates in the F0008B table.

Add a date pattern for the current, prior, and future year. When you set up the date pattern for the future year, the system accepts transactions for dates within that pattern and warns you if they are PACO (Post After Cutoff) or WACO (Way After Cutoff).

Each period must have at least one day on which to post. You cannot set up periods with the same ending dates or overlapping dates.

Dates must be in the proper format. For example, 09/01/07 is the proper format for September 1, 2007. Each date must correspond to a standard date pattern with the same pattern name.

You must set a fiscal date pattern with:

  • Dates for each period.

    If you receive an error message when you enter a date, verify the date pattern. The system considers any date that is not set up to be invalid during data entry.

  • Periods in sequential order and with the same beginning and ending dates as the standard fiscal year pattern.

    If you do not do this, the system uses the standard fiscal year pattern to determine the correct fiscal year.

  • Fiscal years in sequential order.

    Gaps in the date pattern for period and fiscal years prevent the system from posting properly.

12.1.2 Forms Used to Set Up 52 Period Fiscal Date Patterns

Form Name Form ID Navigation Usage
Work With 52 Periods W0008BG 52 Period Accounting (G09313), Set 52 Period Dates Review a list of 52 period fiscal date patterns.
Set Up 52 Periods W0008BF On Work With 52 Periods, click Add.

Select Print 52 Periods from the Reports menu.

Set up a fiscal date pattern.

Print a report of the fiscal date patterns that you have set up


12.1.3 Defining 52 Period Fiscal Date Patterns

Access the Set Up 52 Periods form.

Fiscal Date Pattern

Enter a code to identify the date pattern. You can use one of 15 codes. You must set up a special code (letters A through N) for 52 period accounting or any other date pattern unique to your environment. The default code R, identifies a regular calendar pattern.

Date Fiscal Year Begins

Enter the first day of the fiscal year.

Period End Date

Enter the period end date for 52-period accounting.

12.2 Setting Up 52 Period Reporting Dates

This section provides an overview of financial reporting dates for a company with 52 period accounting and discusses how to assign 52 period reporting dates to a company.

12.2.1 Understanding 52 Period Reporting Dates

The system does not supply the current period as the default for a company. Therefore, you must set up the current 52 period accounting period and year for each company. This information is used by your financial reports. If the period is incorrect on your financial reports, verify the reporting period and year, and correct them.

12.2.2 Forms Used to Set Up 52 Period Reporting Dates

Form Name Form ID Navigation Usage
Work With Companies W0010C Organization & Account Setup (G09411), Company Names & Numbers Review a list of companies.
Company Setup W0010B Select a company on the Work With Companies form. Assign 52 period reporting dates to a company.

12.2.3 Assigning 52 Period Reporting Dates to a Company

Access the Company Setup form.

12.2.3.1 52 Period Accounting

Select the 52 Period Accounting tab.

52 Period Normal Number of Periods

Enter the actual number of accounting periods, not including adjustment periods.

52 Period Financial Reporting Period

Enter a period number to specify a 52-period financial reporting date. This reporting period is used by several EnterpriseOne financial reports.

The period number is not the same as the current period that you specify as the accounting period for a company.

52 Period Financial Reporting Year

Enter the year in which financial statements are to be prepared.

Note:

A fiscal year spanning 2006–2007 would be expressed as 06.

12.3 Changing to 52 Period Accounting

This section provides an overview of the Repost for 52 Period program (R0902B), lists a prerequisite, and discusses how to:

  • Run the Repost for 52 Period program.

  • Set data selection for the Repost for 52 Period program.

12.3.1 Understanding the Repost for 52 Period Program (R0902B)

You can change amounts in the account balances for periods 12–14 to account balances for 52 period accounting. To do this, first post the transactions to the F0902 table and then run the Repost for 52 Period program (R0902B).

The Repost for 52 Period program reposts the F0911 table to the F0902B table. This program uses the F0008B table with 54 period ending dates to determine the period number. After you run this program, you can design a report to verify the balances using Report Design Aid (RDA).

If the general ledger date or fiscal date do not exist in the F0008B table, the system does not update the F0902 table with transactions from the F0911 table.

The system reposts only posted, non-summarized records.

12.3.2 Prerequisite

Post transactions to the F0902 table, Set the processing option in the General Ledger Post program (R09801) to submit the post for 52 periods. The system updates the F0902 and F0902B tables.

See "Posting Financial Transactions and Posting Financial Batches" in the JD Edwards EnterpriseOne Applications Financial Management Fundamentals Implemenation Guide.

12.3.3 Running the Repost for 52 Period Program

Select 52 Period Accounting (G09313), Repost for 52 Period.

12.3.4 Setting Data Selection for the Repost for 52 Period Program

Do not enter a fiscal period in the data selection. Instead, enter the fiscal year.