Manage Accounting Calendar
The accounting calendar defines the accounting periods for the fiscal year. The accounting calendar consists of accounting years, and each accounting year consists of several accounting periods with defined start and end dates. Accounting periods can have custom dates to accommodate a variety of fiscal year models. Each accounting period has an open or closed status that can be used to prevent transactions from posting into a closed accounting period.
After creating an accounting year and its accounting periods, you can also edit or delete accounting years and accounting periods provided transactions have not been posted using the dates defined in the accounting periods.
The accounting calendar must have accounting periods with no date gaps. The AR ledger run will fail if it tries to create transactions for accounting periods that do not exist.
AR Ledger Diagram - Accounting Years