5-4-4 Fiscal Calendar Extra Weeks

Paul Bloem
Tera Expert

‎02-10-2017 08:40 AM

Bear with me, as I'm not an accountant, so fiscal years are a bit of a mystery to me yet...

We have a requirement to use the 5-4-4 fiscal year, and the year always needs to end on the final Friday in February, which in turn drives which years will need the extra 53rd week in the final period. When I've generated fiscal calendars using the out of box generation, it will occasionally add a 53rd year in certain years, which makes sense, but I'm not sure what logic it is using to determine which years should get that extra week. Is there some standard that is used, or is there a way for us to configure how that's being calculated?

I'm not sure whether that's the best explanation of what's going on, but hopefully it rings a bell for someone.

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Sunil B N
ServiceNow Employee
ServiceNow Employee

‎10-04-2019 08:58 PM

Hi,
Ideally it depends from which year you start generating the fiscal periods..
Usually a non leap year contains 365 days (52 Weeks + 1 day)
And a leap year contains 365 days (52 Weeks + 2 day). So when the total number of extra days exceed more than 3 days, we generate 53rd week.

Example: Lets say you started generating fiscal periods from 2015 (non leap year)

FY15 - 52 weeks (accumulated extra 1 day)
FY16 - 52 weeks (Total accumulated extra 3 days, as it is a leap year)
FY17 - 53 weeks will generated as total accumulated extra days are 4 (i.e., >3)

If you dont like this behaviour, you can readjust the weeks and fiscal_end_date_time of year/period..
Fiscal period labels usually depend upon the end year date.. You can modify accordingly to suit your business needs.

Hopefully this helps.
Best Regards,
Sunil B N

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