In Dynamics Ax 2012, Fiscal year is common all the legal entities. They usually define in initial step of implementation. The length of Fiscal years is up to user how long he defines the length according to requirement.
They are essential for financial reporting for particular company. Define the account period or begin and end date for one financial cycle.
In Some countries, Fiscal year usually starts from Diff.-Diff. dates.
You can define the fiscal year from following link
General Ledger-> Setup-> Fiscal Years
By clicking on above link all Fiscal years appears as follow
We can add Fiscal year as follow by clicking on new fiscal year in Dynamics Ax 2012
You need to enter required fields information and the time duration then you need to give length of period in Months, Days or Years. Then click on Create button.
Ledger Calendar : Are based on fiscal year calendar. Every ledger transaction is mapped in open period of fiscal year selected as ledger calendar. You can find ledger calendar form following link
General Ledger-> Setup-> Ledger
From Fiscal calendar dropdown, you can change the fiscal year calendar in Dynamics Ax 2012.
And from above menu button, we can see the detail of selected fiscal year calendar
I changed the fiscal year in ledger I got following message
“The fiscal calendar has been updated. We recommend that you run the recalculate ledger period process.”
To Recalculate ledger period click on top menu.
Following dialog box which run the batch process, You can set it re occurrence. Click ok to recalculate the ledger period process.
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