---
title: "Creating and Configuring Fiscal Years"
description: "If one or more reporting entities of your enterprise have a different fiscal year, then you can define the different fiscal year(s) in Lucanet."
source_url: https://support.lucanet.com/en/documentation/consolidation-financial-planning/platform-dimensions/fiscal-years/create-configure-fiscal-years
language: en
last_updated: 2023-08-16
---
# Creating and Configuring Fiscal Years

## Overview

If one or more reporting entities of your enterprise have a different fiscal year, then you can define the different fiscal year(s) in Lucanet.

The **default fiscal year** with the first month January is preconfigured as the element **Calendar year** in every Lucanet database.

## Creating Fiscal Years

To create a fiscal year:

{% stepper %}
{% stepper-step %}
Right-click the **Fiscal years** root folder.
{% /stepper-step %}
{% stepper-step %}
Choose **Create | Fiscal year** from the context menu **.** The **Create Fiscal Year** dialog is displayed:

Creating a fiscal year

{% /stepper-step %}
{% stepper-step %}
Enter the **name** and the **fiscal year abbreviation**. The abbreviation is displayed when you specify the period in the dimension bar.
{% /stepper-step %}
{% stepper-step %}
Choose the **first month of the fiscal year** from the drop-down list. If there is already a fiscal year that starts with this month, an error message is displayed.
{% /stepper-step %}
{% stepper-step %}
Click **Save**.

{% /stepper-step %}
{% /stepper %}
## Configuring Fiscal Years

To configure a fiscal year:

{% stepper %}
{% stepper-step %}
Click the name of the fiscal year in the tree view.
{% /stepper-step %}
{% stepper-step %}
Click **Edit** at the top right to open the editing mode.

Editing a fiscal year

{% /stepper-step %}
{% stepper-step %}
If needed, change the **name, abbreviation** and the **first month** of the fiscal year.
{% /stepper-step %}
{% stepper-step %}
On the **Periodicities** tab, specify which time views will be available in the dimension bar of account hierarchies and schedules. By default, the periodicities **monthly**, **quarterly**, and **annual** are preselected.
{% /stepper-step %}
{% stepper-step %}
Click **Save**.

{% /stepper-step %}
{% /stepper %}