New features added, version 7.5.3, 8.1
Program GLFM, Fiscal Period Maintenance, is used to enter and maintain fiscal periods. Use program GLFL, Fiscal Period Listing, to print a listing of data for fiscal periods.
* During initial load of your system, you should create top-level parent calendars first, with their parents equal to themselves.
* When querying years, the current year is displayed first. Any future years are displayed next, colored red. Past years are displayed after the future years, colored black.
* If you delete a period, you must select Ok when prompted to run program GLBAL on exit of this program or it may result in corrupted data.
A calendar with at least one period must be created for the year before the first year for which entries will be posted to the general ledger.
* For example, if the first year for which you are posting to the general ledger is 1998, you must have a calendar created with at least one fiscal period for 1997.
* This applies for all calendar types for which you will be posting to the general ledger.
The system is supplied with two calendar type codes, Domestic and Foreign.
Fiscal calendar types control the consolidation of subordinate accounts into the appropriate parent account when the accounts use varying fiscal years.
* A calendar must be established for each type of calendar roll-up for every period.
* Any calendar that has a different fiscal year or that consolidates to a different parent calendar requires a separate calendar type.
* For example, consider the following chart:
* The previous example nodes represent calendar types in your chart of accounts. In program GLFM, Fiscal Period Maintenance, you must establish calendars for A with parent A, B with parent A, and C, D & E with parent B in order to consolidate. Although calendar A and Calendar C are the same dates they must have different parents, therefore, they must have a separate calendar type. The appropriate calendar type must be identified in program GMEM, Enterprise Maintenance, for each enterprise.
* If you have the same fiscal calendar in all enterprises, you can have the same calendar type in all enterprises. For example:
On the second page of the program, pressing the [Make Calendar Year] button will insert the starting and ending dates of the month in the period fields. You can then modify the dates, if desired.
Use program GLFE, Fiscal Calendar Verification, to verify that all criteria required for the calendar has been established. Program GLCU, GL Consolidation Processing, checks that the parent periods are identified as consolidating.
1. The program opens in query mode. Exit query mode.
2. Enter the year for which you are entering a calendar.
3. Enter the starting and ending dates of the fiscal calendar.
4. Enter the calendar type for which you are creating a calendar.
* Fiscal calendar types control the consolidation of subordinate accounts into the appropriate parent account when the accounts use varying fiscal years.
* A calendar must be established for each type of calendar roll-up for every period.
* Any calendar that has a different fiscal year or that consolidates to a different parent calendar requires a separate calendar type.
5. Go to the lower block.
6. Enter the starting and ending dates for each fiscal quarter. The program will calculate the number of weeks and days for each quarter.
* Although the program permits you to leave chronological gaps and overlaps between end dates and the following start date when you are defining quarters, this should not be done.
* To help maintain date integrity, the program supplies the fiscal year start date as the default for the first quarter start date. For subsequent quarters, the default is the next date after the last date of the previous quarter.
7. Press [Commit]. Go to page two.
8. Press the [Make Calendar Year] button. The program will enter information for each period. This information is a starting point and should be reviewed and changed as appropriate.
* You can enter up to 99 periods here.
9. Press the [Validate Calendar] button. The program will check the entered periods and display any problems. For example, if one period ended with 4-01-99 and the next period began with 4-03-99, the program would inform you that a day was missing.
10. Press [Commit]. The calendar is complete.
Press this button to validate the entered periods. For example, if one period ended with 3-31-99, and the next period began with 3-30-99, then the program would inform you that there were overlapping dates.
Press this button to generate a fiscal calendar. The calendar generated is a starting point, and starting and ending dates for the period should be changed as appropriate.