Sample Calendar:
Prefix Type Year Quarter Num From To Name
Jan Month 2003 1 1 01-JAN-2003 31-JAN-2003 Jan-03
Feb Month 2003 1 2 01-FEB-2003 28-FEB-2003 Feb-03
Points to Remember
-Foreign currency translations cannot be performed in the initial period opened for your ledger.
-Choose the earliest period carefully. Once you open your first accounting period, Oracle General Ledger does not allow you to open prior accounting periods.
-Set up the number of periods you want to budget for, up to a maximum of 60 periods.
-You can create your own Period Types(Month, Quarter, Year are predefined type by Oracle)
What is Adjusting Period?
Typically, the last day of the fiscal year is used as an adjusting period to perform adjusting and closing journal entries. Once you begin using your accounting calendar, you cannot change its structure to remove or add an adjusting period. Choosing whether to include an adjusting period or not in your calendar is a very important decision. You can have an unlimited number of adjusting periods.
