Asset Calendars

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Transaction Description

Use this form to set up as many calendars as needed. Each book requires calendars for depreciation and proration to determine the number of accounting periods per year. Once defined, a calendar may be used by several sets of books. For example, several corporate books could share the same calendar and tax books could used different calendars.

The prorate calendar is used by the depreciation program to determine the depreciation rate. The depreciation calendar is used to determine the fractional share of the annual depreciation expense to each period (i.e. a quarterly calendar would cause the depreciation program to calculate 25% per period).

The oldest date placed in service of all assets in the system determines the beginning of the calendar. If assets were placed in service in 1910, then you will have a 100 year calendar.

If the calendar will be used by a book that will make journal entries to the General Ledger (GL), the period name should be identical to the period names in the GL. If names need to be changed only future periods can be changed. Follow this procedure:

• Use the asset calendars window to query the calendar to be changed.
• Scroll to the last period and delete the periods to be renamed.
• Reenter the periods with the correct name.

Header Fields

• Calendar
• Description
• Fiscal Year Name
• Periods Per Year
• Descriptive Flexfield
• Period Suffix Fiscal/Calendar/None

Periods

List of Fields

• Period Number
• Period Name
• From Date
• To Date

Comments

Links

• Related: OracleAssets, AssetSetUp, FA12SetupAssetSystemSystemControls, FA12SetupAssetSystemCalendars

This Topic Is Referenced By These Topics:
Related Links: FA12SetupAssetSystemAssetFiscalYears, FA12SetupAssetSystemBookControls, FA12SetupAssetSystemCalendars, FA12SetupAssetSystemProrateConventions

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Collaborating Authors and Reviewers: JimCrum - 07 Oct 2007