Calendars
Use a company calendar to define the cycle dates and billing frequency. These are used for invoice processing for each franchise billing company. Create at least three fiscal year calendars for each company: previous year, current year, and next year.
Calendar ID
A calendar ID is assigned to a set of calendar dates when you set up your company calendar. It is used to create a calendar template that is stored on the customer file. Each customer's sales entry and billing dates can be controlled by the customer. When you create a calendar ID, you have contract-specific control for sales reporting and billing dates.
Cycle Dates
A cycle is a period of time during the fiscal year that you associate with a specific cycle date when routine contract invoicing, posting, and reporting can occur. A cycle date represents either the beginning or end of a cycle. Cycle dates are used to control general ledger posting dates and transaction dates.
Frequency
In a calendar, frequency represents an interval of time between cycle dates or how often to post or invoice a charge. Interval examples are weekly, monthly, quarterly, or annually.
Next cycle dates
The next cycle date is a system-calculated date associated with contract charges. A next cycle date is assigned automatically to each contract charge when you create the contract charge.
This table shows the options for defining frequency and cycle dates:
| Frequency | Cycle dates |
|---|---|
| Yearly | 1 |
| Quarterly | 4 |
| Monthly | 12 |
| Weekly | 52 |