Creating current calendars

  1. Select Financials > Asset Accounting > Asset System Setup > Calendars.
  2. Click Create.
  3. Specify this information:
    Book
    Select a book name.
    Company
    Select the Global Ledger company that is associated with the calendar.
    Begin Date
    Select the first day of the year to define a depreciation schedule.
    End Date
    Select the last day of the year to define a depreciation calendar. The date must match the last period end date that is specified for the processing calendar.
    Total Periods
    Specify the total number of depreciation periods for the current fiscal year. The number must match the total number of periods that is specified in the Number of Periods field for all the calendar periods. Valid periods are from 001 to 375.
    Periods Closed
    Specify the number of periods that are already closed in the calendar. The number affects the depreciation calculations for the rest of the year. When the calendar is in effect, the Periods Closed value is updated every time you close a period.
    Required Book
    If you select this check box, then the book is automatically displayed on Books when you create a new asset.
    Posting Book
    Select this check box if the book is a posting book that is used by all assets to post journal entries to the Global Ledger. You can assign only one posting book to a company.
    Close Book
    Select Yes to validate all books that must be closed before updating the Company System Close Control. Use this option to ensure that the closed books have the same number of periods and year-end dates as the accounting entity close calendar.
    Mid Quarter Amounts
    Select this option to view the mid quarter amount projection for the current book calendar.
    Tax Detail
    Select this option to view the Tax ID and the Tax ID Type.
  4. In the Period End Dates section, specify this information:
    Number of Periods
    Specify the number of depreciation periods that occur in this calendar period. The total number of periods you specify for the entire calendar must match the value of the Total Periods.
    Period End Dates
    For each period that is defined, select an end date that represents the date on which the depreciation is calculated and processed. The last period end date must match the calendar year end that is specified in the calendar header.
  5. Click OK.