Fiscal calender doubts

Hi ,

I can understand about the fiscal year , but What is the use of the Fiscal calender in AX 2012 ?

Is it mandatory to create the calender ?

Do i need to create the calender every year ?

Thanks in advance.

In AX 2012, Fiscal year is now subset for fiscal calendar. This can be helpful when there are multiple companies and they are following different fiscal start and end date.

Assume there are 6 companies out of which every two companies has fiscal start from 1 Jan, 1 Apr and 1 July. In this case we can make 3 fiscal calendar and attach it as per company requirement. If AX had fiscal years only, we had to make 6 such calendars.

Pranav…

This post is useful to me also . I also have the same doubts .

Hi Pranav,

Calendar year is 1 Jan thru 31 Dec. Many governments / organizations start their fiscal year 1 Apr and close out 31 March.

Generally fiscal calender is same for the all the legal entities around the world , as per your statement fiscal year will change.

Do i need to create the 3 fiscal calender and what is the start date and end date of Fiscal calender ?

Do i need to create the fiscal calender every year ?

See fiscal year totally depends on how you are maintaining the financials. Calendar year has got nothing to do with Fiscal year.

As we define fiscal year in fiscal calendar, so the start date should always be the one of fiscal, whether it’s 1 Jan or 1 Apr.

During the initial configuration and setup, we define one fiscal calendar for a legal entity and in that calendar we define years. Once calendar is created, you can create fiscal years as and when required. You needn’t change fiscal calendar, only you have to create fiscal years in the attached calendar.

Pranav…

Hi Pranav ,

Thanks for the reply.

Assume that client using the AX 2012 first time from Apr 2013 , so first i need to create the Fiscal Calender like Jan 2013 - DEC 2013 and will create the fiscal year APR 13 - MAR14.

As per your suggestion , when it comes to next year user need not to create any new calender and but has to create the new fiscal year as APR 14 - MAR 15…

So in this process we will maintain only one calender as

FC - JAN 2013 - DEC 2013 ,

FY - > APR 13 - MAR14

FY - > APR 14 - MAR 15.

FY - > APR 15 - MAR 16

So we need to not create the Fiscal calender for each year .Am i right ?

Then what is the business use of the Fiscal Calender ? I request you please explain in the client point of view .