Is it mandatory to create the New Fiscal Calendar

Finance and Operations/AX Developer Forum
1

Hi All ,

In AX 2012 , we have the Fiscal Calendar and Fiscal Year options .

Is it mandatory to create the New Fiscal Calendar in 2012

Thanks and Regards

2

Hi Ameen,

Yes fiscal calender is mandatory in 2012. It is a part of ledger setup which is the base setup for GL.

In fiscal calendar only we define fiscal year.

Pranav…

3

Hi Ameen,

Yes its Mandt setup, because what ever Business related transactions you do & every thing should be on paper (i mean in system). Every entry (Credits or Debits)

We need to create (setup) every year this fiscal year in order to work and make adjustment entries that reflect transactions from the previous year and maintain financial statements and check previous years transactions and transfer the closing balances to new fiscal year as opening balances…

This cycle is Mandatory in any business and this step is must & should.

Sarathy

4

Thanks Pranav ,

You mean to say that I need to create the Fiscal Calender for the year 2012-2013 and again under this I need to create the fiscal year 2012 -2013.

Am I right ?

5

Hi,

First new fiscal calendar and then new fiscal year.

Sarathy

6

Hi Sarathy,

In new company I have created the Fiscal calendar 2012- 13 , under this I am going to create the Fiscal year , when I click create new it is taking automatically 2013- 14 .

But it has to take 2012-13 ,why it is taking automatically 2013 – 14 as Fiscal year.

Thanks in advance.

7

Please reply.

8

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