This screen is used to define the Accounting Periods for each Fiscal Year:
Fiscal Year: Enter a 4-digit Year.
# of G/L Periods: Enter the number of Accounting Periods (01-13).
Accounting 'Periods' is used in lieu of Accounting 'Months' -- since the Fiscal Periods need not necessary be calendar months.
The typical Installation has 12 Accounting Periods (albeit that the Fiscal Year may be skewed from the Calendar Year).
The situation of 13 (4-week) periods is sometimes convenient in Restaurant situation to evenly reflect the spread of Business analysis over same-length Periods (thus avoiding the disparities that 28, 29, 30, 31 day Months engender).
Adjustment Period: Check this box if there is to be an additional 'Adjustment Period' .
For each of the activated Accounting Periods 01-13:
Period End Date: Enter the End-Date of the Period (MM/DD/YY).
Period Short Description: Enter a Short Description for the Period.
Period Description: Enter a (longer) Description for the Period.