Multiple Calendars feature must be enabled. For more information, see Enabling Multiple Calendars.
A fiscal calendar identifies the month that begins a fiscal year. When assigned to a subsidiary, the fiscal calendar determines the accounting period rollup structure used to build fiscal years for reporting purposes.
When you create a fiscal calendar, you identify the first month for the fiscal years created for this calendar. New fiscal years generated using Set Up Full Year always begin on the first day of the month selected in the Fiscal Calendar record, as do the quarters and months created.
When you set up individual accounting periods using the New Year Only, New Quarter Only, or Base Period button instead of Set Up Full Year, you can begin a fiscal year on any day of first month of the fiscal calendar, if needed.
To create a fiscal calendar:
Go to Setup > Accounting > Manage G/L > Fiscal Calendars > New.
Click New Fiscal Calendar.
Enter a name for the fiscal calendar.
In the First Fiscal Month field, enter the month the fiscal year begins.
This month determines when to begin fiscal years created using this fiscal calendar.
Check Default Fiscal Calendar to assign this fiscal calendar to any new subsidiaries you create.
The fiscal calendar for existing subsidiaries assigned the Standard Fiscal Calendar or other default fiscal calendar does not change.
Other information about working with fiscal calendars is included in the following topics:
- Fiscal Calendars
- Enabling Multiple Calendars
- Setting Up Accounting Periods for a Full Year for Subsidiaries
- Setting Up Single Accounting Periods for Subsidiaries
- Adjustment Periods
- Restriction and Automation Rules Governing Accounting Period Changes
- Multiple Calendars with Other NetSuite Features
- Searching Fiscal Calendars