How to arrangement GL Accounting Calendar?

  Characterize Accounting Calendar to characterize a bookkeeping year and the periods it contains.

Arrangement for characterizing Accounting Calendar:

Step1: Define Period Type

Route: General Ledger Super User > Setup > Financials > Calendars > Types

Note: There are 2 sorts of Year Type

1.            Calendar

2.            Fiscal

Question: What is the contrast between Calendar Year Type and Fiscal Year Type?

Reply: The Year Type (Fiscal or Calendar), is utilized exclusively to figure out which two digits to affix to the framework-produced period name.

   On the off chance that Year Type = Calendar

       The last 2 digits of the 'From' date for the period are utilized.

   Assuming Year Type = Fiscal

       The last 2 digits of the worth in the 'Year' segment are utilized.

 

=> Cautiously consider the kind of schedule you want for your association, since it tends to be challenging to change your schedule (e.g., from a monetary year to a schedule year) whenever you've utilized it to enter bookkeeping information.

 

Question: Why 13 periods in the above Calendar when we have just a year?

Reply: This thirteenth period is for the Adjustment Period in which we put change sections.

The change Period is just apparent in GL. You might NOT see a change period in sub-ledgers at any point like AR, AP.

 

Question: In which table this Period Type data is put away?

Reply:

select * from gl_period_types

where user_period_type = 'Goodbye PT';

 

Note: You can characterize quite a few periods. For instance, you could characterize a Week time span type and indicate 52 periods each year.

Step2: Define Accounting Calendar

Route: General Ledger Super User > Setup > Financials > Calendars > Accounting

Note:

1. Despite which Year Type is utilized, the 'Year' entered on the Calendar structure should be no different for all periods whether it is a schedule year or a monetary year.

Eg. For the above Calendar Year=2012 for the 'Jan-13' period.

The rationale is basic, If we need to work out the YTD equilibrium of the Jan period, in the event that we give 2013, it will be ascertained from 01-JAN-2013. However, assuming we give 2012, as per the above schedule YTD gets determined from 01-APR-2012, which is right.

2. For changing period Adj, we have empowered the 'Changing' checkbox.

 

Question: In which table this Accounting Calendar data is put away?

Reply:

select *FROM gl_periods

where period_set_name = 'Goodbye Calendar';

 

Save and Close the above schedule. Following Decision window springs up.

Click on "Current" to just approve this Calendar.

It dispatches Concurrent Program Other - Calendar Validation Report

 

Question: What Validation does this Program check?

Reply: It actually looks at the following Validations.

1.            Do Periods have date holes?

2.            Periods cross-over?

3.            Period numbers are more prominent than the most extreme time frame number for this period type?

4.            Period numbers are absent?

5.            Periods are not in that frame of mind by date?

6.            Quarters are absent?

7.            Quarters are not in that frame of mind by period?

8.            Period's beginning or end dates over one year prior to or after its financial year?

Extra Info:

1. You can characterize various schedules and relegate an alternate schedule to every Ledger.

Eg. You can involve a month-to-month schedule for one Ledger and a quarterly schedule for another.

 

2. We truly do have one more sort of Calendar. Which is the Transaction Calendar.

(General Ledger Super User > Setup > Financials > Calendars > Transaction)

In the event that strategy to utilize 'Normal BalanceProcessing' characterize a Transaction Calendar and legitimate work days for that schedule. This schedule is utilized to control exchange posting.