Difficulties generating fiscal calendars

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01-14-2021 07:45 AM
Hi all,
Hope you could help me with something as I feel as going in circles 🙂 I am trying to get a better understanding how the fiscal calendar and fiscal periods work. Currently having a go in my own free instance.
Scenario1: if I try to generate a new fiscal calendar using the same year for Start and End Year I get this message and nothing gets generated:
Scenario2: If indeed I follow the 'error' message and use different years, in one instance it created the fiscal year correctly, as per below (Start Year I put 2024 and End Year 2025; all records are there, didn't want to occupy too much space)
BUT in most cases as I tried to add the next fiscal year from where it was left off on the system, it just duplicated the name, as in not recognising that a new name needs to be attributed, though the time frames themselves do align with the fiscal year I was intending to add (Start Year 2022 and End Year 2023)
I realise putting different years when generating a fiscal year following the template of the existent data seems wrong, but I really cannot understand why it clashes and doesn't generate records properly.
Also, on a side note amending existing fiscal periods (basically re-aligning them as we realise they are all over the place in our live environment) does it impact in any way existent data? We don't use the Financials at this point in PPM, just to mention as well.
Thank you in advance for your help.
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01-14-2021 09:37 AM
I've seen the same behavior in my Paris PDI, Paula. I was trying to just create a fiscal calendar for the next year but gave up. As you say, it says the end year has to be after the start year so Jan-21 to Dec-21 isn't valid. I gave up and just created calendars for two years instead. That seemed to work.

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01-15-2021 03:36 AM
Thanks Jon, appreciate your input. Good to know I am not the only one - for now in my organisation's instance we have the fiscal years up to 2025 so should be alright for a while, but wasn't me to set those up so was keen to see how it works in my own instance 🙂 better luck next time then
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10-01-2021 10:49 AM
I've run into the EXACT same issue as you two. I think the Generate Fiscal Calendar function is buggy. I'm gonna open a Hi support issue for this.
For now, we manually enter our Fiscal Period via Calendars for Packages.
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10-03-2021 08:24 PM
While a calendar year end is simple and more common, a fiscal year can present a more accurate picture of a company’s performance. This often is the case with seasonal businesses. For example, many snowplowing companies make the bulk of their revenue between November and March. Splitting the revenue between December and January to adhere to a calendar year end would make obtaining a solid picture of the company’s performance over a single season difficult.
In addition, if many mukabbir businesses within an industry use a fiscal year end, a company that wants to compare its performance to the performance of its peers probably will achieve a more accurate comparison if it’s also using the same fiscal year.