1. Accounting Foundation Cloud Service Core Functions
  2. Setting Up Your Service
  3. Fiscal Period
  4. Set Up Fiscal Periods

6.3.1 Set Up Fiscal Periods

You can add or edit a Fiscal Period.
To add or edit a Fiscal Period, perform the following steps:
  1. During deployment, a user with Administrator Privileges can set up Fiscal Periods using this procedure, or, after deployment, the Administrator can manage Fiscal Periods by navigating to the Fiscal Period settings. To navigate to the Fiscal Period settings, on the Home page, click Administration, and click Fiscal Period.
    The Fiscal Period Settings page is displayed. During deployment, the user with the Administrator privileges can set up Fiscal Periods using the same procedure.
  2. On the Setup tab, there are four built-in Fiscal Year Quarters. They are Quarter 1, Quarter 2, Quarter 3, and Quarter 4. Select the required quarter for a specific Entity and then proceed to add or edit a Fiscal Period.
  3. To create a new Fiscal Period, perform the following steps:
    • a. Click Add Fiscal Period. A new row is added to the Fiscal Periods list with a new Fiscal Period Name and other details. To edit the Fiscal Period Name, double-click the Fiscal Period Name Value and do the changes.
    • b. To select the starting month for the Fiscal Period, double-click the Start Month Value and select the required value in the list. By default, this field displays January.
    • c. To select the starting day of the selected Fiscal Period Start Month, double-click the Start Day Value and select the required value in the list.
    • d. Similarly, select the values for End Month and End Day for the selected Fiscal Period. You need to verify these values for all quarters.
  4. To edit an existing Fiscal Period, double-click the values of the Fiscal Period Name, Quarter Name, Start Month, Start Day, End Month, End Day, and then do the changes.
  5. Click Save.
  6. To delete an existing Fiscal Period, click the corresponding Delete option. A confirmation message is displayed. Acknowledge the message.

    Note:

    The Fiscal Periods set up in this Fiscal Period Module are associated with the Legal Entity. This Fiscal Period Attribute is sourced as a part of the Legal Entity.