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.