The Fiscal Calendar frame is used to set up your organization’s financial calendars. This is a crucial part of the system as it defines the periods within the fiscal year used for billing, usage, and reporting information.
You must define a fiscal calendar before you can account for revenue and expenses, run end-of-period and billing, creating budgets or enter company holidays on the Holiday Calendar frame. The fiscal calendar must be set for each year prior to the first fiscal period.
To create a fiscal calendar:
Enter the Fiscal Year.
Enter the Quarter, Period and Period start date.
System Flag 1012 will define the number of periods in the fiscal year (12 or 13).
The Period Start Date MUST be the first day of the month or fiscal period.
The Period Closed On date field will be displayed once the End of Period process is run.
The Billing run date, Billing Run by and Billing Closed on fields will be displayed once the billing process is run.
Click the Save button at the top of the frame.
Periods
The Periods tab is a customer specific tab used for calculating vehicle lease rates. The fields on this tab are the (Fiscal) Year, Inflation Rate (%), Interest Rate (%), Fleet Overhead, Return on Equity, Total Fleet Value.
System Flags
1012 – Define the Number of Fiscal Periods – Default Value is 12 – The system allows a fiscal year of either 12 or 13 periods. The Number of fiscal periods flag controls whether your fiscal calendar has 12 or 13 periods. It is recommended that the number of periods coincide with your financial systems.
Note: A twelve period fiscal calendar usually coincides with the twelve months of the calendar. A thirteen period fiscal calendar is usually divided into thirteen four week periods.
Last Update: 06/06/2016
NOTE: To view a list of System Flags and Role Privileges that may impact this screen, hover over the screen title in M5 to display the bubble help/tooltip. At the bottom of the bubble help/tool tip, there is a Settings hyperlink. Click that hyperlink to display the list of flags and privileges.
Additional training and technical documents on this subject may be available in the Resource Files area.