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:

1. In the Setup and Maintenance work area, go to the Manage Accounting Calendars task:

   • Offering: Financials

   • Functional Area: Financial Reporting Structures

   • Task: Manage Accounting Calendars

2. Click the Create icon.

3. On the Create Accounting Calendar page, enter the calendar details.

4. 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 adjustment period and one ending balance adjustment period.

5. Set the adjusting period frequency as Twice at year end.

   Note: For year-end close, set the adjusting period frequency as Other and then define these adjustment periods:

   • Beginning of the year adjustment period
   • End of the year adjustment periods:
     • Preclosing adjustment period. This is optional and is only required if the agencies create preclosing journal entries for year-end close.
     • Closing adjustment period

6. Click Next.

7. Enter the period details for the 14 accounting periods.

8. Click Save and Close.