Fixed Asset Fiscal Calendar is Different from General Ledger Calendar

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Posted on by BarryR

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Hello All -

I have a client that uses a 4-4-5 calendar for all postings to the ledger except for Fixed Assets where they post depreciation each month based on a normal calendar year. Do I need to set up different fiscal calendars, one for Fixed Assets using normal start and end dates (i.e. 1/1/24..1/31/24) and

then one for the 4-4-5 period dates (i.e. 12/30/23..1/26/24)?

What is the difference between calendar year and fiscal on Depreciation year on the depreciation profile form?

Thanks in advance for any advice.

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Frank Hamelly | MVP... 46,627 Moderator on at

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Yes, you'll need two calendars. Fiscal refers to other than a Calendar year, as in your case, the 4-4-5 Fiscal calendar.

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BarryR 324 on at

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Frank - if I need to set up two calendars then how do I link them both to a Ledger?

Also, when I attempt to add the FA ledger fiscal periods via Excel publish I get this error.

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BillurSamdancioglu 20,713 Most Valuable Professional on at

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You can create multiple calendars. You can only select one in Ledger. On assets you can select the others.

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Frank Hamelly | MVP... 46,627 Moderator on at

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As Billur said, you set your 4-4-5 Calendar on the ledger and your Calendar year calendar on Fixed asset book:

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saurabh bharti 15,045 Moderator on at

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Hi,

Just to add to others point

On depreciation profile if you select calendar that means you can use different calendar on Books for depreciation (That can be same as fiscal or FA specific)

and if you select fiscal which means you would like to follwo the same one which you have in legder setup

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