Current Fiscal Year
General Ledger activation uses this date (and the Oldest Fiscal Year Starting Date) to determine how many fiscal calendars it needs to create.
For example, if your year starts in April, and it is now June, 2001, your current fiscal year is 2002.
General Ledger will create calendars for prior fiscal years up to the current year, and it will also create a calendar for the current fiscal year if one doesn't already exist.
Note: This year is used only to create the correct fiscal calendars. When activation is finished, General Ledger sets the current fiscal year to the year before the oldest fiscal year you specified, so you can enter the opening balances for your ledger.
See also