Definition of Fiscal Calendar - what is the purpose of Fiscal Unit

[petrb]

Hi there,

can anyone explain me a purpose of the Fiscal Unit field. I cannot see any purpose of this field.

I have tried generating of FY19 with Fiscal Unit defined in Quarters and after that FY20 with Fiscal Unit in Months and looking at generated Fiscal period I could not see any difference.

FY19 with Fiscal Unit defined in Quarters

FY20 with Fiscal Unit in Months

There is no much in official documentation either> https://docs.servicenow.com/bundle/madrid-platform-administration/page/product/it-finance/task/t_Gen...

Fiscal Unit

Select the base unit for the calendar. Month: Generate fiscal calendar with monthly periods. Quarter: Generate fiscal calendar with quarterly periods.

Could anyone please explain me if there is any impact on eg. Resource & Benefit plans or other functions or modules? eg. Portfolio planning, Budgetting etc.

Thank you very much in advance.

Kind regards,

Petr

[Sheila Llewelly]

The purpose of the fiscal calendar is to align with how your organization budgets and forecasts. This field feeds portfolio management, resource management and several other financial apps within the ITBM module

https://docs.servicenow.com/bundle/madrid-it-business-management/page/product/project-portfolio-suit...

[yogesh41]

The "Fiscal Unit" doesn't have much significance in Madrid , it is there just for backward compatibility.  It can be ignored.

FYI, it was being referred in Financial Management ( Cost Transparency ) module in earlier releases. But recently the same attribute is being moved to Cost Model entity.

- Yogesh

[petrb]

Thank you for your answers. I have also found out that there is some system property called "com.glide.fiscal_calendar.fiscal_unit" but I could not find any decent documentation to explain how the property exactly works and what is the impact.

Anyone any hint on this?

Thank you very much.

k.r. Petr

[Noah Drew]

Hi @petrb !

The "Fiscal Unit" field set during the generation of Fiscal Periods will drive the frequency of metric generation in Financial Management and actuals generation in Financial Planning.
You can also set this property using the "com.glide.fiscal_calendar.fiscal_unit" property.

Here's the documentation for metric generation in Financial Management:
https://docs.servicenow.com/bundle/newyork-it-business-management/page/product/it-finance/concept/metric-weight-maps.html

It will NOT impact Resource Plans, Benefit Plan, Cost Plans.

Hope that helps!

If it did, please mark as Helpful and consider setting the reply as the Answer to the question, thanks!