How are calendars used?

The calendar associates a book with a company, so you must define a calendar for each book and each company that will use that book. Calendars are defined by book, company, and year-end date. You must define at least one current calendar. If you try to assign an asset to a company and book that you do not have a calendar defined for, you will receive an error message, and you must create the calendar before you can continue with the asset addition.

Part 32 book

The calendar periods and period end dates do not have to match the General Ledger calendar. 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