Cost Calendar

 OPM Financial : Setup : Cost calendar  

You maintain costs by defining the costing calendars. A cost calendar can be shared across multiple cost types and legal entities. A cost calendar can span multiple years.   

 For each costing calendar, you can define an unlimited number of costing periods. Each period is assigned a period status to indicate costing activity that is permitted.

• Never Opened - the period was never opened, you cannot establish costs or run any cost processes in a never opened period.

• Open - all activity is allowed.

• Frozen - no updates can be made for existing items (however, new item costs can be entered or calculated and their costs updated).

• Closed - no activity is performed in a closed period. Periods cannot be reopened for costing activity once they are closed.

The costing calendar is completely separate from the fiscal calendar and the periods therein. Cost Calendars support multiple legal entities and cost type. You cannot assign two calendars to the same legal entity and cost type combination for the same time period. For example, if you define a cost calendar called FY06 - monthly calendar for the year 2006 and assign to a Legal Entity and cost type, you cannot assign another cost calendar, Q06 - quarterly calendar for year 2006, to the same Legal Entity and cost type combination.

If you are using the Period Moving Average Cost, then use the same start and end dates for the period as the fiscal financial calendar defined for your Legal Entity's Primary Ledger in GL.

The Cost Calendars window supports multiple languages (MLS enabled). When you call this window, the Globe icon is enabled. If you have multiple languages installed, then use the option to add the calendar description in any of the installed languages.

Attach the Cost Type and Legal Entity to OPM Calendar