Defining a calendar

Calendars are processing schedules and posting periods that asset books use to report on periods and date ranges and to calculate depreciation, replacement costs, and insurance values.

A calendar associates a book with a company, so you must define a calendar for each book and for each company that will use that book. This procedure outlines the process for defining calendars.

Before you can define a calendar, ensure the General Ledger company and book associated with the calendar are already defined.

Define a calendar

Access Current Calendar (AM01.1).

Note: To clone an existing calendar, you can change the company or book name (or company and book name) on one record and use the Add form action to add a new record with the same calendar.
Define the calendar. Specify this information:

Required Book

If you want the book to be used for all new and existing assets that are added to the application, select Y (Yes) in this field.

Note: This is not a fixed, one-time decision. During conversions, or at any other time, you can change a book's required or not-required status.

Posting Book

If you want the book to be a posting book that is used to post journal entries to the General Ledger application, select Y (Yes) in this field. A company can have only one posting book.

What does a posting book do?

Periods Closed

This field identifies the number of periods that have already been closed in this fiscal year, and enables processing of the calendar to begin in mid-year.

To interface an asset or add an asset in mid-year, this field is important. The number of periods closed in the fiscal year must be accurate to get accurate depreciation calculations.

Per (Depreciation Period)

Use this field to specify the number of depreciation periods included in each calendar period. Typically, this value is 1, but you can have calendars that require more than one depreciation period per calendar period.

The total number of periods specified in all the Per fields must equal the number of periods specified in the Total Periods field.

For Part 32 books, the depreciation period is 1 for each calendar period.

Period End Date

This field identifies the ending date for a calendar period. You must define at least one period ending date.

If you plan to use system control, the period end dates for the posting book must match those in the General Ledger application. System control For Part 32 books, the periods and period end dates must match the General Ledger calendar dates.