What is a Financial Month?

The Financial Month marks one period in a twelve month accounting period.  Fiscal months are normally defined as either four or five full seven-day weeks.  Because of this, it is usual that a Financial Month does not coincide with a Calendar Month.  


In iSite, a Financial Month is denoted as YYYYMM, where YYYY is the calendar year in which the Financial Month occurs and MM is the calendar month in which the greatest portion of the Financial Month occurs.


Examples of Financial Months

The following is a series of Financial Months that make up a "4-4-5" Financial Calendar, which means each quarter in the Financial Calendar will consist of a month of 4 weeks, followed by another month of 4 weeks, and completed by a month of 5 weeks.


  • 201301 would be defined as January 1 through January 28, 2013.
  • 201302 would be defined as January 29 through February 25, 2013.
  • 201303 would be defined as February 26 through April 1, 2013.


How is a Financial Month Defined?

A Financial Month has a set of properties that are used throughout iSite to control functionality.  The following is a list of properties that are available for a Financial Month:


  • Financial Month Code - Numeric value in "YYYYMM" format, that names the Financial Month, where YYYY is the calendar year in which the Financial Month occurs and MM is the calendar month in which the greatest portion of the Financial Month occurs.
  • Start Date
  • End Date
  • Contract Year - Numeric value, usually starting with "1", that denotes the Contract Year that the Financial Month belongs to.
  • Contractor Fiscal Year - Numeric value that represents the Fiscal Year of the Prime Contractor that the Financial Month belongs to.
  • Contractor Financial Month Code - Numeric value in "YYYYMM" format that represents the FInancial Month Code of the Prime Contractor.
  • Agency Fiscal Year - Numeric value that represents the Fiscal Year of the Government Agency that the Financial Month belongs to.
  • Working Days - The number of non-weekend days during the Financial Month.
  • Working Hours - The number of non-weekend hours business hours during the Financial Month.  Normally based on a 40-hour work week.
  • Productive Days - The number of non-weekend, non-holiday days during the Financial Month.
  • Productive Hours - The number of non-weekend, non-holiday hours business hours during the Financial Month.  Normally based on a 40-hour work week.
  • Financial Month Group 1 - The code used to identify the Financial Month as part of the Financial Month Group.  For instance, if Financial Month Group 1 was designated to represent an "Award Fee Period", you would put the Award Fee Period Code that corresponds to the Financial Month.
  • Financial Month Group 2 - The code used to identify the Financial Month as part of the Financial Month Group.
  • Financial Month Group 3 - The code used to identify the Financial Month as part of the Financial Month Group.
  • Financial Month Group 4 - The code used to identify the Financial Month as part of the Financial Month Group.
  • Financial Month Group 5 - The code used to identify the Financial Month as part of the Financial Month Group.


How do I create a Financial Month?

To create a Financial Month in iSite, review the Financial Months topic in the Help for Administrators > Datawarehouse > Table Management and Utilities section.


How iSite Uses Financial Months

iSite uses Financial Months to represent costs or plan information for specified period of time, which is consistent with contract accounting and financial reporting requirements.


Where are Financial Months used?

The Financial Month is used within the following iSite Modules:



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