A fiscal calendar in NetSuite (or any accounting system) is a structure that defines the start and end dates of your financial reporting periods. These periods are used to track and report financial activities over time, ensuring consistent accounting practices.
A fiscal calendar is made up of fiscal years, which are divided into accounting periods, such as months or quarters.
In NetSuite, you can define different fiscal calendars for each subsidiary, which is useful for global businesses that operate in multiple countries with different fiscal years.
Navigation
Setup>Accounting>Fiscal Calendars>New
It is possible to select First fiscal month to begin the fiscal year here. When a period is opened under one fiscal calendar, it impacts all fiscal calendars in the account.
While creating a subsidiary we can choose the fiscal calendar, other wise the default fiscal calendar will be selected.
