and selecting the date on the calendar that displaysUse Calendars to define the fiscal calendar for your company.
Setting Up a New Calendar
Open Calendars under Administration | Setup.
Click New to create a new fiscal year. Notice that the Fiscal Year box defaults to the next fiscal year. For example, if fiscal year 2011 is already set up, the fiscal year that defaults is 2012.
In Description, specify a description for this fiscal year.
Fiscal Year Begin Date defaults to the first day of the year defined. You may override if your fiscal period does not start on this day by typing the new date or by clicking Calendar and selecting the date on the calendar that displays
Click Calculate Period Dates to have the system determine the beginning and ending dates for the periods at the bottom of the screen.
In Number of Periods per Year, specify the number of periods you want to use in your fiscal year.
Select the Adjustment Period check box if you want to dedicate the last period of the fiscal year as an adjustment period.
Select the Closed check box if the fiscal year being set up has previously been closed.
The Quarter End check boxes are automatically selected for those periods that represent the end of each quarter. You can clear the default periods and select other periods, if you need to.
In Financial Report Caption, specify the caption that you want to appear on the financial reports for the respective periods; such as January, February, March, and so on.
Click Save and New, or click Save and then click New, to save the current fiscal year and start adding the next.
Changing an Existing Calendar
Open Calendars under Administration | Setup.
Use the pointer to put the focus on the fiscal year that you want to change, and then click Properties 
.
Edit the existing values as needed, and then click Save.