fiscal calender or fiscal year in AX 2012?

Hi, I currently have fiscal calender set up with fiscal year set as 2012. I haven’t entered any transactions for the year 2012 as we are planning on using AX in the year 2013. However, we may enter some transactions in Dec 2012 and close.

Now, the question is whether to clear a new fiscal year under the same fiscal calender or create a new fiscal calender all togather for the year 2013? what is the difference between the two? Why would we create a fiscal calender as supposed to new fiscal year. ]

appreciate your answers. Thank you

Hi Patrick,

You need to create Fiscal calendar once during initial setup. In the fiscal calendar we define fiscal years. In the Fiscal calendar we define the fiscal year and from that year itself we can post the transaction. In your case, you need to create fiscal calendar and define year 2012 in that. Later you can create 2013 in same fiscal calendar.

This issue has been discussed many times before also in the forum. Following links should help you:

http://dynamicsuser.net/forums/p/58760/316451.aspx

http://dynamicsuser.net/forums/p/59027/318569.aspx

Pranav…

Many thanks pranav for the answers. Appreciate it.