NetClose - Work Calendars

Overview

When NetClose Tasks and Reconciliations are generated, due dates are assigned based on the close timing (relative/absolute due dates) and NetClose Work Calendar. Each work calendar lists workdays, work hours, and Non-Working Days like holidays.

End of Year Reminder

Keep in mind that work calendars do not roll over year to year automatically. At the end of the year, it's recommended to update work calendar(s) for the upcoming year. To ensure this is done, it's recommended to create an annual task in the Tasks module to remind the team to update this each year.

Work Calendars are applied at a subsidiary level and are additive with respect to non-working days.

If a subsidiary has 3 calendars assigned to it, a non-working day that exists on ANY of the 3 calendars will be a non-working day in that subsidiary for purposes of scheduling close tasks. For this reason, it is best to start with a base calendar that has non-working days that apply to the whole company, or to the broadest set of subsidiaries possible. From there, continue to add calendars with non-working days that apply to different cohorts. You can go as far as creating a calendar for each individual subsidiary if holidays are subsidiary-specific.

Close timing is set on the NetClose Task record. You can dictate due dates by business days (relative due date) or absolute dates. See our guide on setting up NetClose Tasks for more detail.

Example: For the month of February ending on a Wednesday, a task with a relative due date of 3 (meaning it needs to be completed 3 business days after the close), will be assigned a due date of the following Monday. If that Monday is a holiday, the system would assign the due date as Tuesday.

Absolute Due Dates

Keep in mind that absolute due dates are not subject to work calendars or holidays. If we change the example above to an absolute due date of 3, the task will be due on the 3rd day of the month, Saturday.

Step by Step Process

Navigate to NetClose > Setup > Work Calendar. Select New NetClose Work Calendar.

Out of the Box

By default, the work calendar "NetClose Template - All Subsidiaries" is included when the NetClose SuiteApp is downloaded. This calendar includes all subsidiaries and is set to a Monday - Friday work week. It does not include any holidays. This calendar can be left as is, edited, or deleted depending on your use case.

The following fields can be updated on the work calendar:

Name	Description	Example
Name	Enter the name of the calendar. If relevant, include the year.	Holidays 2023 USA
Subsidiaries	Either check the box for all subsidiaries or select the applicable subsidiaries for the calendar.	ACME U.S.A.
Working Days Subtab
Start At	Enter the workday start time.	8:00 am
Hours Per Day	Enter the number of hours per day the company typically works.	8
Work Days	Select the days of the week the company usually works.	Monday, Tuesday, Wednesday, Thursday, Friday

Then, navigate to the Non-Working Days subtab to add all non-working days including holidays.

Click Save.

Tip: At the end of each year, go to the previous year's work calendar(s) and select Actions > Make Copy. Be sure to update the name of the work calendar, as well as all non-working days and dates.

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