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Fiscal Calendars

Your organization’s fiscal calendar affects how Lucernex handles lease accounting. Lucernex supports 13-period years, 4-4-5 quarters, 4-5-4 quarters, and English/Scottish quarters. Administrators configure calendars using the Admin tool.

ClosedEnglish / Scottish / Irish quarters

Choose from several quarterly payment frequency options for expenses. The following table shows the default quarter start dates for each option.

Frequency Q1 begins Q2 begins Q3 begins Q4 begins
Quarterly January 1st April 1st July 1st October 1st
Quarterly (England) March 25th June 24th September 29th December 25th
Quarterly (Irish) February 1st May 1st August 1st November 1st
Quarterly (Scottish Old) February 2nd May 15th August 1st November 11th
Quarterly (Scottish New) February 28th May 28th August 28th November 28th

Create a custom payment frequency.

Quarterly payment frequency calculation

When you select the standard Quarterly payment frequency, Lucernex uses the default quarter start dates shown in the table if the contract’s Expense Schedule start date matches one of those dates. If payments start on a different date, Lucernex calculates quarters based on the Expense Schedule start date for the contract (not fixed calendar dates). For example, if the schedule starts on February 15, the quarterly periods are February 15 to May 14, May 15 to August 14, and so on.

To align quarterly payments to fixed calendar quarter dates (such as January 1, April 1, July 1, and October 1), set the contract’s Expense Schedule start date to the quarter start date you want.

Example:

If the contract’s expense schedule starts on February 10, the quarterly periods are:

  • Q1: February 10 – May 9
  • Q2: May 10 – August 9
  • Q3: August 10 – November 9
  • Q4: November 10 – February 9 (the following year)

ClosedSet the end of the fiscal year

Set the fiscal year end date, using the Manage Company page:

  1. Select Admin in the toolbar in the upper-right corner of the window.

    The System Administrator Dashboard page opens.

  2. Select Manage Company in the Company Administration column.

  3. On the Manage Company page, select the month and day in Fiscal Year End.

    This date changes if you use anything other than monthly accounting for your fiscal calendar. For example, 4-5-4 periods.

  4. Select Update at the bottom-center of the page.

    Lucernex updates your fiscal year end date.

ClosedConfigure your fiscal calendar

Lucernex calculates dates for subsequent years based on the initial record you enter. Calendar years can include extra days and later years may be offset as a result. Verify that your fiscal year dates match what you expect.

Actual quarterly periods can vary based on the contract’s expense schedule start date.

  1. Select Admin in the toolbar in the upper-right corner of the window.

    The System Administrator Dashboard page opens.

  2. Select Manage Fiscal Calendar in the Portfolio / Capital Program Administration column.

  3. In the Manage Fiscal Calendar page, do one of the following:

    • Set your global fiscal calendar, by selecting <SELECT> from the field.

    • Create a fiscal calendar for a specific portfolio, by selecting the portfolio from the Portfolio at the top of the page.

      If required, set both a global fiscal calendar and calendars for specific portfolios.

Use a 13-period calendar

  1. Enter the year you are beginning your accounting in the Year of the Multi-Period Add (Equal Period Length) row.

  2. Enter 13 in the Total Periods of the Multi-Period Add (Equal Period Length) row.

  3. Enter the begin date of your fiscal year in the Fiscal Year Start field.

    Select Calendar A small button with a picture of a calendar on it. to open the date picker.

  4. Enter the end date of your fiscal year in the Fiscal Year End field.

    Select Calendar A small button with a picture of a calendar on it. to open the date picker.

  5. Select Create Periods for Year.

    The year you created appears in the Year Summary (non-computed years) table.

  6. To view the details of the year, select the year in the Year Summary (non-computed years) table.

    The details of the year appear in the Year Details table.

Use a 4-4-5 quarter or 4-5-4 quarter calendar

  1. Enter the year you are beginning your accounting in the Year of the Multi-Period Add (by weeks) row.

  2. Select either 4-4-5 or 4-5-4 from the Weeks in Quarter field.

  3. Enter the begin date of your fiscal year in the Fiscal Year Start field.

    Select Calendar A small button with a picture of a calendar on it. to open the date picker.

  4. Select Create Periods for Year.

    The year you created appears in the Year Summary (non-computed years) table.

  5. To view the details of the year, select the year in the Year Summary (non-computed years) table.

    The details of the year appear in the Year Details table.

Use English / Scottish / Irish quarters

  1. Enter the year you are beginning your accounting in the Year in the row below the Multi-Period Add (by weeks) row.

  2. Enter the begin date of your fiscal year in the Fiscal Year Start field.

    Select Calendar A small button with a picture of a calendar on it. to open the date picker.

  3. Enter the number of weeks in each period in the fields provided.

  4. Select Create Periods for Year.

    The year you created appears in the Year Summary (non-computed years) table.

  5. To view the details of the year, select the year in the Year Summary (non-computed years) table.

    The details of the year appear in the Year Details table.