Navigation Path: OPM Financials>>Cost Management>>Setup>>Calendars
Steps:
1.
Enter the name of the cost calendar. Cost calendars can
extend over to multiple years (in the same manner as general ledger calendars)
as long as the same cost method is used.
2.
Enter a brief
description of the cost calendar.
3.
Specify the company for which costing data for the cost
calendar will eventually be updated. The default is the company linked to the
User on the User Codes window (Apps System Administration application).
4.
Enter the cost method code to be used as a default for
this cost calendar.
5.
Fiscal Indicator is not used.
6.
Enter the Start date on which this calendar becomes
effective.
7.
Enter a code to identify the periods.
8.
Enter a brief description of this calendar periods.
9.
Enter a last date of this calendar periods to remain
effective.
10. Default
Period Status is Open. Valid calendar status are Open, Frozen, and Closed.
11. Navigate to
the Action menu. Select Close Period from the Actions menu when you are sure that there are no more cost changes
to be made and assign it Closed status.
12. Save
the screen.
Note: Transactions (regardless of cost method) can
be made to Open calendar periods.
OPM gives you the flexibilty to Freeze existing costs
from further modifications (such as cost rollups, actual cost processing, and
cost updates) in a specific calendar period. A new item cost transactions may
be added to frozen periods, however you cannot delete a frozen cost periods.
You can also Close a period, which prevents any further costing changes to be
made within the specified period.
