Setting Up Monthly Accounting Calendars

Monthly accounting calendars are required for journal generation.

Each accounting transaction contains an accounting date that determines the monthly accounting period to which the application posts the transaction. To generate a journal for an accounting transaction, you must first open the associated monthly accounting period.

You create and open accounting periods on the Monthly Accounting Calendar page.

Creating Accounting Periods

1. Select Accounting Setup > Monthly Calendar.

2. On the Monthly Accounting Calendar page, click Create Periods.

3. On the Create Periods modal page, enter the calendar year for which you want to create accounting periods.

4. Click Create Periods to create an accounting period for each month of the calendar year you entered. The grid on the Monthly Accounting Calendar page displays all of the created accounting periods.

   Note: All newly created accounting periods are closed until you open them.

Opening Accounting Periods

1. Select Accounting Setup > Monthly Calendar.

2. On the Monthly Accounting Calendar page, click Open Periods.

3. In the From Period and To Period fields, enter the range of accounting periods that you want to open.

4. Click Open Periods to change the status of the selected range of accounting periods from Closed to Open. The grid on the Monthly Accounting Calendar page displays the status for accounting periods.