Mainly for retail focussed businesses, a reporting calendar is often structured into 52 weeks, comprising seven days each, totalling 364 days. This arrangement results in an additional day each year that must be addressed.
Consequently, every five to six years, an extra week is incorporated into the fiscal calendar. This adjustment was made in fiscal years 2012, 2017 and 2023.
Enabling custom and specialized calendars, as AssetAccountant does, offers those businesses requiring calendar flexibility comparison of sales across different years by structuring the year into months that follow a non-standard x12 monthly arrangement.
This calendar design aligns holidays appropriately and guarantees an equal number of Saturdays and Sundays in corresponding months. Also better management of inventory and sales is allowed by ensuring consistent comparisons between similar periods across different years, as each period has the same day-of-the-week pattern. Similar days are matched with similar days mainly for the purpose of sales reporting.
AssetAccountant not only allows the most common 4-4-5 calendar arrangement, but also allows you to choose other options in Register Settings. You have these following setting options:
- 4-4-5 calendar
- 4-5-4 calendar
- 5-4-4 calendar
- 13x4 period calendar
I.e. Each quarter of the year is divided into three periods, with two periods lasting four weeks and one period lasting five weeks, with the variations representing the different possible orders of those periods within a quarter; while "13x4" means the year is split into 13 equal periods, each lasting four weeks.
IMPORTANT NOTE: If you change these settings in an existing register, your reporting will immediately change from your prior reporting. Be careful to extract prior reporting or make journals up to the date of the change. Also, you will need to refresh your browser, maybe a few times for the changes to take effect.