We have from time to time run into organizations that are using custom fiscal calendars to manage their businesses. One of the most common is the 4-4-5 calendar that organizations in the Manufacturing sector in particular will use.
Why do organizations not use the traditional Months, Quarters and Annual Calendar?
Here is a good summary from Wikipedia:
- The 4–4–5 calendar is a method of managing accounting periods. It is a common calendar structure for some industries such as retail, manufacturing and parking industry.
- The 4–4–5 calendar divides a year into 4 quarters. Each quarter has 13 weeks, which are grouped into two 4-week "months" and one 5-week "month".
- When a 4–4–5 calendar is in use, you can still compare a period to the same period in the prior year, or use week by week data comparisons.
- Its major advantages over a regular calendar are that the end date of the period is always the same day of the week, which is useful for shift or manufacturing planning, and that every period is the same length.
In Microsoft Dynamics CRM, we now wanted to support these different custom fiscal periods so that key processes like Pipeline Management can now be reported using the same periods that the company manages the rest of their business with. In order to do this, we developed the Custom Fiscal Period Solution. Watch this quick 2-minute demonstration video for more detail:
The Custom Fiscal Period solution allows you to:
- Easily allows the implementation of a 4-4-5 calendar: The solution is fast to set up and allows you to set up your calendar periods and then associate any date field in CRM to be associated to your Custom Calendar.
Go here to get a short 2 minute overview demonstration of the solution: Custom Fiscal Period Solution Overview.