You maintain costs by defining the costing
calendars. A cost calendar can be shared across multiple cost types and legal
entities. A cost calendar can span multiple years. For each costing calendar,
you can define an unlimited number of costing periods. Each period is assigned
a period status to indicate costing activity that is permitted.
- Never
Opened -
the period was never opened. You cannot establish costs or run any cost
processes in a never opened period.
- Open - all activity is
allowed.
- Frozen - no updates can be made for
existing items (however, new item costs can be entered or calculated and
their costs updated).
- Closed - no activity is
performed in a closed period. Periods cannot be reopened for costing
activity once they are closed.
The
costing calendar is completely separate from the fiscal calendar and the
periods therein. Cost Calendars support multiple legal entities and cost
type. If you are using the Period Moving Average Cost, then use the same
start and end dates for the period as the fiscal financial calendar defined for
your Legal Entity’s Primary Ledger in GL
Defining Cost Calendar
To define a cost calendar:
Cost Calendar Details (Periods Region)
Cost Calendar - Additional Menu Features - Actions Menu
- Navigate to the Cost Calendars window.
OPM Financials: Setup > Cost Calendars
- Enter the name of the cost Calendar (for example, enter 2007). This is a required field.
- Enter a brief Description of the cost calendar. For example, enter Fiscal Year XXXX
- Enter the date on which this calendar becomes effective in Start Date. Required.
Cost Calendar Details (Periods Region)
- Enter a code to identify the Period which can be any code you wish. If the cost calendar represents a 12-period fiscal year, you might want to enter 1 through 12. Required.
- Enter a brief Description of this calendar period. For example, if this is the first period of a fiscal calendar, enter January. Required.
- Enter the Start Date of this calendar period.
- Enter the last date of this calendar period in End Date.
Cost Calendar - Additional Menu Features - Actions Menu
- Close Period - Select this option when you are sure that there are no more cost changes to be made. Select Close Period from the Actions menu to close a costing period and assign it Closed status. Close all the previous periods before closing the current period.
No comments:
Post a Comment