Add New Fiscal Year

Use this window to add years to your fiscal calendar. This window defaults dates and period labels for the next future year, but you are able to edit the period labels. When you click the Continue button, the fiscal periods with start and end dates displays in this window. Once you have finished building the fiscal year, click OK and add any additional years if desired.

Note: When accessing this window for the first time, the period names will default as January-December, the number of periods will default to twelve, and the start date will be blank, but these may be changed.
Important: Run a backup before updating the fiscal calendar.

Fields

Descriptions

Fiscal periods

Fiscal year

The next sequential fiscal year defaults (based on the existing fiscal years). Changes may be made in this field if no calendar has been set up for this company yet.

# Periods

Enter the number of periods that you want to include in this fiscal year (the number defaults from then number of periods used in the existing fiscal years, but this number may be changed). Fiscal calendars can include anywhere from 1 to 13 periods; this allows companies to operate within a non-standard fiscal year.

Note: If fewer than 12 periods / 4 quarters comprise your fiscal calendar, then the end date of the current quarter is the last period that does exist in the calendar.

Start date

The starting dates of the periods in this fiscal year default (based on the starting dates used for established fiscal years).

Grid

#

The number of periods that comprise this fiscal year display. Fiscal calendars can include anywhere from 1 to 13 periods; this allows companies to operate within a non-standard fiscal year.

Period

The period labels display, and may be changed. Period labels are included on various reports and screens throughout Spectrum, and functions using these labels will be changed to reflect any changes made here.

Start date

The starting dates of the periods in this fiscal year default (based on the starting dates used for established fiscal years).

End date

The end dates of the periods in this fiscal year default (based on the end dates used for established fiscal years). End dates may be changed, but they must be later than the previous period end date and two days before the next end date. Each time a new end date is entered, the software automatically adjusts the start date of the next period accordingly.