Create Federal-Specific Accounting Calendar
Create an accounting calendar that defines the start and end dates of the fiscal year.
Perform these steps to create an accounting calendar:
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In the Setup and Maintenance work area, go to the Manage Accounting Calendars task:
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Offering: Financials
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Functional Area: Financial Reporting Structures
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Task: Manage Accounting Calendars
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Click the Create icon.
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On the Create Accounting Calendar page, enter the calendar details.
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Enter the number of standard periods as 14.
Note: You should define at least 14 accounting periods to include 2 adjusting periods and 12 nonadjusting periods. For GTAS and DATA Act processing, you must define at least one beginning balance adjusting period. -
Set the adjusting period frequency as Twice at year end.
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Click Next.
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Enter the period details for the 14 accounting periods.
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Click Save and Close.