Multiple Fiscal Years For OneWorld


In OneWorld accounts, the new Multiple Calendars feature enables you to set up and use different accounting period rollups for your subsidiaries. This capability enables you to report transaction activity using different fiscal year start and end dates, as needed to meet statutory and organizational reporting requirements.

With the Multiple Calendars feature, you set up accounting and tax periods in the context of a Fiscal Calendar.

A fiscal calendar determines the start date for a fiscal year and determines how to roll up the aggregate and base accounting periods. The base accounting periods that make up a fiscal year are shared across all fiscal calendars. Aggregate periods, such as quarters and years, are unique to a fiscal calendar.

The accounting period hierarchy is visible on the Manage Accounting Periods page. Change the calendar selected in the Fiscal Calendar filter at the bottom of the page to view a different accounting period rollup. By selecting a fiscal calendar, you see the accounting period structure for all subsidiaries that are assigned that fiscal calendar.

Feature Enablement

Navigate to Setup > Company > Enable Features > Accounting > Multiple Calendars

When you enable the feature, NetSuite creates a default calendar called Standard Fiscal Calendar. Your existing fiscal year hierarchy determines the start date and period rollup structure for the Standard Fiscal Calendar.

Note: before you can enable this feature, all adjustment periods must overlap base accounting periods.

Fiscal Calendars

Fiscal calendars are also reflected in Quotas, Forecasts, Commissions, and Budgets.