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 Pakistan, Fiscal year usually starts from 1 July and ends at 30 June.
You can define the fiscal year from following link
General Ledger-> Setup-> Fiscal Years
As I working on contoso demo data for my R & D. 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
Now I am going to create a fiscal year with what follow in Pakistan. In Pakistan companies follow the Fiscal year starting from 1 July and ends at 30 June every year.
As I select the length of period is 1 month the default calendar build with respect to as follow.
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.