Set up a Fiscal Year

You will use the GL Fiscal Years form to set up fiscal years.

You must set up a fiscal year before you can post transactions to any month within that year. Fiscal years cannot overlap and cannot contain more than 12 months; however, you can set up a fiscal year with fewer than 12 months.

To set up a fiscal year:

  1. Open GL Fiscal Years. In the Fiscal Year Ending field, specify the month on which the fiscal year ends.
  2. In the Beginning Month field, specify the month in which this fiscal year begins.
  3. If you are using Management Reporter, in the Fiscal Year for Management Reporter field, enter the year to use as the fiscal year for Management Reporter.

    You will typically enter a fiscal year equal to the Fiscal Year Ending month. However, if you have multiple fiscal periods in the same year (split years), you will need to enter a different Management Reporter fiscal year for each fiscal period. For more information, see About Fiscal Year for Management Reporter.