Select a fiscal calendar
Select fiscal calendars for ledgers, fixed assets, and budget cycles
Fiscal calendars are used with fixed asset depreciation, financial transactions, and budget cycles. When you create a fiscal calendar, you can use it for multiple purposes. You can select a fiscal calendar for a book to make it a fixed asset calendar. You can select a fiscal calendar for a ledger to make it a ledger calendar. You can also select a fiscal calendar for a budget cycle to make it a budget calendar. You can use the same fiscal calendar for all of these.
Select a fiscal calendar for your legal entity
Select the fiscal calendar that you want to use for the ledger for your legal entity on the Ledger calendars page. A fiscal calendar must be selected on the Ledger calendars page for every legal entity. After a fiscal calendar is selected, you can set up period statuses and permissions on the Ledger calendar page in General ledger > Calendars > Ledger setup for any of the periods that are part of a fiscal year.
Select a fiscal calendar for fixed assets
You can select a fiscal calendar for the fixed asset book, and that fiscal calendar will be used by the fixed assets that use the selected book. You can select from any fiscal calendar that is defined on the Fiscal calendars page in General Ledger > Calendars > Fiscal calendars.
When setting up a Fixed asset, the Depreciation profile that is selected in the Books tab is connected to one of the fiscal calendars that is set up within the system. The depreciation is run based on the fiscal calendar that is selected. See the screenshot for how those books are set up in Fixed assets > Setup > Books.
