Financial Calendar Generation: Process Activity

In this activity, you will learn how to perform operations required to generate a financial calendar for a new month-based financial year.

Video Tutorial

This video shows you the common process but may contain less detail than the activity has. If you want to repeat the activity on your own or you are preparing to take the certification exam, we recommend that you follow the instructions in the steps of the activity.

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Story

Suppose that at the end of 2024, acting as the accountant of the SweetLife Fruits & Jams company, you must generate a financial calendar for the 2025 year in the system.

Process Overview

In this activity, you will generate periods for a new year on the Master Financial Calendar (GL201000) form. You will then review and change the period statuses for this year on the Company Financial Calendar (GL201100) form.

System Preparation

To prepare the system, do the following:

1. Launch the MYOB Acumatica website with the U100 dataset. Sign in as an accountant by using the following credentials:
   • Username: johnson
   • Password: 123
2. On the Company and Branch Selection menu, also on the top pane of the MYOB Acumatica screen, make sure that the SweetLife Head Office and Wholesale Center branch is selected. If it is not selected, click the Company and Branch Selection menu to view the list of branches that you have access to, and then click SweetLife Head Office and Wholesale Center.

Step 1: Generating a Calendar for a New Financial Year

To generate a calendar for a new financial year, do the following:

1. Open the Master Financial Calendar (GL201000) form.
2. On the form toolbar, click Generate Calendar.
3. In the Generate GL Calendar dialog box, which opens, verify that 2025 is displayed in the From Year and To Year boxes and click OK.
4. In the Summary area, select 2025 in the Financial Year box and review the generated periods displayed in the table.

Step 2: Reviewing the Periods for 2025

To review the financial periods generated for 2025 in the SWEETLIFE company, do the following:

1. Open the Company Financial Calendar (GL201100) form.
2. In the Selection area, specify the following settings:
   • Company: SWEETLIFE (inserted by default)
   • Financial Year: 2025
3. In the table, review the periods generated for 2025.

   Note that all the periods in the new 2025 financial year have the Inactive status, as shown in the following screenshot.