Specify the start and end dates of each fiscal year for a fiscal year name. Create fiscal years from the oldest date placed in service through at least one fiscal year beyond the current fiscal year. Depreciation will fail if the current fiscal year is the last fiscal year.

You can set up multiple fiscal years in this window. You can assign different fiscal years to your different corporate books. The calendar for a tax book must use the same fiscal year name as the calendar for the associated tax book.

Prerequisite

• Specify the Oldest Date Placed in Service. See: Specifying System Controls.

To create a fiscal year:

1. Open the Asset Fiscal Years window.

2. Enter a Fiscal Year Name and Description. You can set up multiple fiscal years with different names.

   Suggestion: The name you enter appears in List of Values windows which allow no more than 30 spaces. You may want to limit your name to 30 characters.

3. Enter the start and end date of each fiscal year.

4. Enter the Fiscal Year you are defining.

5. Save your work.