About custom accounting periods

If your company is using custom accounting periods, you can view and manage them by going to Company > Setup > Settings > Accounting periods. If your company does not use custom accounting periods, you will not see that menu option.

Whether your company uses Standard or Custom accounting periods is determined during the initial company setup.

If you have the required permissions, you can check to see which type of accounting periods are in use.

  1. Go to Company > Setup > Company.

  2. Go to the Accounting tab.

  3. Check the Accounting periods field. You'll see either Custom or Standard.

This setting applies to all entities in a multi-entity company. You cannot have one entity with a standard calendar and another entity with a custom calendar. Nor can you have different custom calendars for different entities.

After a transaction has been posted in the company, you cannot change from Standard to Custom or from Custom to Standard.

If you're using custom accounting periods, a best practice is to create reporting periods in advance because some reports need the periods to exist to run correctly.