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What is the "Set Current Period and Year" Options?

Summary:

What is the "Set Current Period and Year" option in the Period dimension of the Classic Dimension Editor?

Content (please ensure you mask any confidential information):

The Period dimension of the Classic Dimension Editor has a "Set Current Period and Year" option.
The Period dimension in the Simplified Dimension Editor does not have this option.
I cannot find an explanation in the product documentation.

Version (include the version you are using, if applicable):

PBCS
Version: 24.06.86

Code Snippet (add any code snippets that support your topic, if applicable):

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