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Fiscal Period

Mon, 2017-02-13 07:22 — ppatnaik

Overview

The Fiscal Period information is another key component of Human Capital to determine and calculate appropriate forecast information.
 
The Fiscal Period values are used across the application to determine the adequate amount for month-end accruals when performing the accruals generation and export functionality, or when running HC reports on the last day of a specific fiscal period.
 
These values are also used in the exporting functionality to ensure that expense transactions are exported to the financial system based on this concept to ensure and facilitate constant reconciliation between the General Ledger (the financial system) and the salary expenses Sub- Ledger (HC).
 
The Fiscal Period may be segregated quarterly, monthly or every six months. Fiscal period goes from the beginning of each Fiscal year (e.g. April 1st.) to the end of the fiscal year, e.g. March 31th).
 
The fiscal period values must be created on a fiscal year basis by the HC System Administrator.

 

Navigation

Human Capital ► Budgeting and forecasting ► Support Entities ► Fiscal Period

 

Fiscal Period screen Fields

Fields

Description

Period Number

Unique identification code, manually entered by user. The Period Number must be unique for the active fiscal year, e.g. you can have period number 1 in fiscal year 2017, and period number 1 in fiscal year 2018.

Start Date Period

Start Date of the Fiscal Period.

End Date Period

End Date of the Fiscal Period.

StatusCurrent status of the period. The Status is Open by default. The available options are: Open, Closed and Restricted (Closed with Exceptions).

Language

Select the language used  to register the description and name

Description

Description of Fiscal Period.

Note: Before creating a Fiscal Period in the new fiscal year, click on the Find icon to identify if any Fiscal Period already exists for that Fiscal year.

Note: Before creating a fiscal period, verify that you are in the appropriate fiscal year and scenario. If not, position yourself in the appropriate fiscal year and scenario for which the new fiscal period information needs to be created.

Note: The Fiscal Period number must be unique within the fiscal year, e.g. 1 for April; 2 for May, etc..

Note: The System Administrator can select one of the available status by clicking on the drop-down menu. To re-open a fiscal period, simply reselect the open status and to save the changes. The System Administrator can select one of the available status by clicking on the drop-down menu. To re-open a fiscal period, simply reselect the open status and to save the changes.

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