Setting Fiscal Year End

In a 53-week year, you must define the last day of the fiscal year, and the month and year in which the day occurs. This is used to calculate the leap year. Every year has 364 days, but the leap-week year has 371 days.

To set fiscal year end:

1. In Day of the Week, select the day of the week of the last day of the first fiscal year.
2. Indicate if the first fiscal year ends on the last day of the week (in a specific month) or on a day closest to the end of that month:

   • Last occurring in the month of—The first year ends on the last day of a month and year you choose. For example, if the year ends on Tuesday December 26, 2008, select Tuesday, Last occurring in the month of December for 2008.

   • Closest to the end of—The first year ends of the day of the month closest to its end. For example, selecting Tuesday, Closest to the end of: December 2007, ends the year January 2, 2008.

     Required: Indicate a time:

     • In Month, select the month in which the first fiscal year ends or the month closest to the end.

     • In Year, select the first fiscal year.

3. Perform one of the following:

   • Click Next, and see Assigning Weeks to Months if you selected 12 Months.

   • Click Next, and see Assigning Months to Quarters if you selected 13 Months.