You have been given a task to update a calendar by adding a new period to it. What is the
quickest way to perform this task?
A.
Manually add the periods.
B.
Use the Add Year button.
C.
Run the Other – Calendar Validation Report.
D.
The application automatically populates the next period.
Explanation:
Define the Calendar Periods
Use the Accounting Calendar form to define your calendar (navigation =
Setup..Financials..Calendar..Accounting).
You associate a calendar and period type with each set of books. Oracle General Ledger lets you
maintain multiple calendars.
For each calendar, you should set up one complete year at a time, specifying which types of
accounting periods you will include in each year. Oracle General Ledger lets you add periods to
your calendar at any time. When you define new accounting periods, remember to use the same
period type that you originally assigned to your set of books. These are the only periods that
General Ledger will recognize for your set of books.
Note: Define your calendar to fit your business. You can define a calendar for any fiscal year, and
have up to 366 accounting periods for use with actuals and 60 periods for use with budgets. The
periods can be of different lengths, but they all must be of the same period type for one set of
books, in order for General Ledger to recognize them.