Core TSIs : Lease Accounting : 4-4-5 Lease Accounting
4-4-5 Lease Accounting
Planon allows for a period of 52/53 weeks as an accounting period as opposed to a proper year. This method is called the 4-4-5 calendar. By using this method, financial years always end on the same day (typically the end day of the week).
This calendar structure is common for some industries, such as retail, manufacturing, and parking.
In addition to using a monthly calendar, Planon also supports a 4-4-5 calendar. Based on this calendar Planon will generate weekly accounting commitments.
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In Planon, the monthly calendar and 4-4-5 calendar concepts are mutually exclusive. Once a choice is made, it is no longer possible to switch.