The 12 Steps of Fiscal Year Period Accuracy

‘Tis the season for 12 steps of fiscal year planning for the 12 periods in the fiscal year, to

‘Tis the season for 12 steps of fiscal year planning for the 12 periods in the fiscal year, to ensure you enjoy the 12 days of Christmas.

Fiscal Year Planning

A proper fiscal year planning for all your departments is imperative to ensure your organization’s success in the coming year. You can start by defining your priorities and implementing them in a go-to-market strategy. However, the number of moving parts needed to accomplish this is massive. Tasks include evaluating your projected revenue goals, defining target markets and how to segment them, as well as determining your resource availability. Accomplishing these tasks will ensure you have a good roadmap to achieve your fiscal year planning goals. Below you’ll find the twelve steps to generate financial reports for your annual planning periods. This will help you to identify resource availability, as well as other data, to ensure you have good visibility into your finances.

an image of the 12 steps of fiscal year planning



at (Financial Management/General Ledger/ Setup/Fiscal Calendar/ Selected Calendar) Latest FY = Current FY+1


Go to the Twelfth Step of Fiscal Year planning


  1. Add a New Fiscal year
  2. Enter End Date
  3. Save
  4. Check Number of periods and closing periods for accuracy (check for period 13 requirements)
  5. Go to Actions. If a Calendar period THEN Generate Periods
  6. Check data accuracy
  7. Generate Periods
  8. Save and Exit ELSE
  9. at (Fiscal Year/Fiscal Period/List tab)
  10. Enter period date ranges needed
  11. Save and Exit
  12. Have a Happy New Year!

About Encompass Solutions

Encompass Solutions, Inc. is an ERP consulting firm and Epicor Gold Partner that offers professional services in business consulting, project management, and software implementation. Whether undertaking full-scale implementation, integration, and renovation of existing systems or addressing the emerging challenges in corporate and operational growth, Encompass provides a specialized approach to every client’s needs. As experts in identifying customer requirements and addressing them with the right solutions, we ensure our clients are equipped to match the pace of Industry.

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