Fiscal calendars (form) [AX 2012]

Updated: November 20, 2012

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012

Click General ledger > Setup > Fiscal calendars.

Use this form to create, update, or delete fiscal calendars that can be used by any legal entities in your organization. For each fiscal calendar, you can create one or more fiscal years, and specify the starting and ending dates for the fiscal year. You can specify the number of periods, and the period units, such as days, months, or years. For more information about the tasks that you can complete by using this form, see Key tasks: Fiscal calendars, fiscal years, and periods.

The left pane in this form lists the fiscal calendars that are set up. When you expand a fiscal calendar, the fiscal years that are included in that fiscal calendar are displayed. The right pane displays the details of the selected fiscal calendar and fiscal year.

When fiscal calendars are created, they can be selected by any legal entity. A fiscal calendar must be selected in the Ledger form for each legal entity. You can then use the Ledger calendar form to view the status of the fiscal years and periods for that fiscal calendar. You can modify the status of the period, and select which users can post accounting transactions in each period for the modules that use the specified ledger and fiscal calendar. For more information, see Ledger (form) and Ledger calendar (form).

Before you delete a fiscal year, you must complete these steps in the specified order:

  1. Create a fiscal calendar in the Fiscal calendars form. (Click General ledger > Setup > Fiscal calendars.)

  2. Select the new fiscal calendar in the Ledger form. (Click General ledger > Setup > Ledger.)

  3. Recalculate the ledger periods in the Ledger form.

  4. Delete the previous fiscal calendar in the Fiscal calendars form.

The following tables provide descriptions for the controls in this form.

Button

Description

New fiscal calendar

Enter details for the new fiscal calendar. These include the name, description, and starting and ending dates. Click Create to create the fiscal calendar.

New fiscal year

Enter details for the new fiscal year. These include the starting and ending dates, name, and period information. Click Create to create the fiscal year.

Delete

Delete the fiscal calendar or fiscal year that is selected in the left pane.

Caution noteCaution

If you delete the fiscal year before you create a new fiscal year and recalculate the ledger periods, posted journal entries are not deleted, but you can no longer view the journal entries for the fiscal year.

Budget cycles

Open the Budget cycle time spans form, where you can create a budget cycle time span and specify the number of periods during which a budget is in effect for budget control. A budget cycle can differ from the accounting cycle. For more information, see Budget cycle time spans (form).

Button

Description

Delete

Delete the selected period. You can delete only periods that have a status of Open and that do not include financial transactions.

You can view the period status on the Periods FastTab in the Ledger calendar form. For more information, see Ledger calendar (form).

Create closing period

To create a closing period in a fiscal year, select a period that has a status of Open. Click Create closing period, enter a name for the closing period, and then click Create. The new period will have the same number as the selected period, but the selected period will still exist.

A closing period includes the general ledger transactions that are created when a fiscal year is closed. When you include the closing transactions in a separate fiscal period, it is easier to create financial statements that either include or exclude different types of closing entries. If a fiscal year is divided into 12 fiscal periods, the closing period is usually the thirteenth period. For more information about how to create a closing period, see Key tasks: Fiscal calendars, fiscal years, and periods. For more information about closing transactions and closing a fiscal year, see Close (form).

You can view the period status on the Periods FastTab in the Ledger calendar form. For more information, see Ledger calendar (form).

Divide period

Divide the selected period into two periods. Enter a period start date and a new period name, and then click Divide. You can divide only periods that have a status of Open. For more information, see Key tasks: Fiscal calendars, fiscal years, and periods.

You can view the period status on the Periods FastTab in the Ledger calendar form. For more information, see Ledger calendar (form).

Field

Description

Calendar

The name of the selected fiscal calendar.

Description

The description of the fiscal calendar. You can modify this description.

Fiscal year

The name of the selected fiscal year.

Start date

The date when the selected fiscal year starts.

End date 
(In the upper pane)

The date when the selected fiscal year ends.

Period name

The name of the period. Periods are automatically generated when a fiscal year is created and have sequential numbers. You can change the names.

Type

The period type:

  • Opening – The period can be used to record opening balances from the previous fiscal period.

  • Operating – The period can be used to record accounting transactions.

  • Closing – The period can be used to record general ledger transactions that are created when a fiscal year is closed.

Period start

The date when the period starts.

End date 
(In the lower pane)

The date when the period ends.

Short name

Enter an optional, shorter name for the period. This is used in number sequences when the number sequence scope is set to use the fiscal period. For more information, see Number sequences (list page).

Month

Select a sequential month number, starting with 1, to calculate depreciation or the available budget. For example, select 10 for the month of October.

Quarter

Select the quarter for the calculation of asset depreciation or for the available budget. For more information, see Depreciation books setup (form).

Comments

Enter an optional comment for the period.


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