Do you have to manually add another year to the Accounting Calendar each year?

Hi there,

The accounting calendar I am working with has monthly periods starting January and ending December. It is currently 2023, I have clicked the 'Add Year' button in 'Manage Accounting Calendars' task, so that the calendar is created for 2024. When December 2024 comes around, will someone have to go into FSM and click 'Add Year' again, or will the system automatically create the calendar for 2025 once the December 2024 period is closed?

Thank you for your help.