Accounting Calendar
Accounting Calendar is a schedule of anticipated dates for financial activities . FoundryBean Global Work System is totally flexible for your business needs and allows you to define as many calendars you want in the system .You can only assign one calendar in each ledger. Accounting calendar can be fiscal calendar or yearly calendar.
Accounting calendar consists of accounting periods , quarter and year . You can define as many Accounting periods as needed including adjustment periods. Adjusting periods can be added to enter adjusting and accrual entries . Adjusting periods can overlap with regular periods whereas regular periods cannot overlap with each other. Each accounting period is defined with accounting year and quarter for reporting purposes.
Accounting periods are unique across the accounting calendar though the same name can be used in other calendars. Since Subledgers do not have separate calendar , they use the same calendar as in ledger.
