Understanding Accounting Calendars Based on Open and Close Periods

You can establish an accounting period configuration based on the beginning and ending period dates that you normally use, and combine these periods to create calendars. These accounting calendars define the time periods to which you post transactions for different transaction types, ledger groups, ledger codes, and business units. Set up calendars along with ledger codes, ledger groups, and business units according to your accounting environment.

PeopleSoft General Ledger supports multiple calendars, so you can keep separate calendars for actuals, for budget and forecast activity, and for special reporting or transitional needs. Only one calendar can be active for a ledger at a given time.

The PeopleSoft system uses the following calendar definition options:

Term	Definition
Calendar Builder	Use to create a base calendar that is the starting point for creating other calendars such as the detail calendar.
Detail Calendar	Define detail calendars to include the number and duration of accounting periods in your fiscal year and the beginning and ending dates for each period. This option also identifies the adjustment periods for the calendar. Posting is directly tied to the ledger group's calendar. Transactions are posted to the open period that corresponds to the journal date and to the adjustment period that you specify on the journal header. You can have any number of periods or years open at any time. If you use Asset Management, you can set up your depreciation allocations based on the detail calendars that you define.
Summary Calendar	(Optional) Use summary calendars to group detail calendar periods for inquiries and reporting, such as quarterly reports and semiannual reviews. While you must use detail calendars to control the posting of journals to a detail ledger, you use summary calendars with a summary ledger to further collapse your data across detail calendar periods. The accounting period on your summary ledger data corresponds to the summary calendar periods that you define. While you can associate a detail calendar with your summary ledger, you cannot use a summary calendar with your detail ledger.
Business Calendar	(Optional) Use to create the business (or working) calendar that identifies holidays and nonworking days. Once you define one or more of these calendars, link it to the business unit in the Holiday List ID field on the General Ledger Definition - Definition page. The only ledgers that recognize the business calendar are those with a default ledger type of Standard ledger template set up on the Ledger Template - Record Definitions page. When you enter journals on the journal entry pages or run the Journal Generator process (FS_JGEN), the system edits the journal date to ensure that it falls on a working day. The Journal Edit process (GL_JEDIT) checks the journal date to verify that it falls on a working day in that business calendar. If the process finds that the journal date is not a working day, it marks the journal as an error. Because you cannot change the journal date, copy the journal to another date using the Copy Journal function, and delete the original journal (the one marked as in error). For reversals, the Journal Edit process, not the Journal Post process (GL_JP), populates the reversal date. If you selected either End of Next Period or Beginning of Next Period for the reversal date on the journal header, the Journal Edit process changes the date if the date is not a working date. If you selected Beginning of Next Period, it uses the first valid working day in the next period. If you selected End of Next Period, it uses the last valid working day in the next period. You can enter a specific journal date for reversals only when you enter journals using the Journal Entry pages. If you specify a date, the system edits the date at that time and requires you to enter a valid working date. Used to manually define fiscal and nonfiscal detail budget period calendars for use with Commitment Control budgets.
Budget Period Calendar	Use to manually define fiscal and nonfiscal detail budget period calendars for use with Commitment Control budgets.
Budget Period Calendar Builder	Use to automatically define budget period calendars for use with Commitment Control budgets.
Summary BP Calendar (summary budget period calendar)	Use to create a summary budget period calendar, based on a predefined detail budget period calendar, for use with Commitment Control budgets.
Scheduling Options	Use to define scheduling options for various activities.