Question on Period Name on Asset Calendar to Match GL Calendar Period Name
We are in the process of Setting up Asset Calendars in Oracle Assets and have the following question:
We are required to Setup our Asset Calendars from the earliest Date Placed In Service which is 01-JAN-1936. However as per Fixed Assets documentation (i.e. User Guide) we need to ensure that the Asset Calendar Period Names (i.e. the Depreciation Calendar) need to be named exactly the same as the GL Accounting Calendar Period Names.
However this is posing a problem as follows:
GL Accounting Calendar follows the Period Naming Convention 'MMM-YY' and hence we also followed the same Period Naming Convention for the Depreciation Calendar to name our Periods in the same manner e.g. "JAN-36" (From Date: 01-JAN-1936 To Date: 31-JAN-1936.) However when we extend our Depreciation Calendar beyond the Period 'DEC-35' i.e. when we try to Setup the Depreciation Calendar Period Name for JANUARY of 2036, as 'JAN-36' the system prompts with a Message saying that this is a Duplicate Value and hence Not Allowed to be Saved, which is quite justifiable and reasonable.