Custom Fiscal Years: A Must-Know Topic for Lightning Experience Administrators

B.

The answer to the question is A. True.

Salesforce allows you to set up a fiscal year for your organization. A fiscal year is a period of 12 months that organizations use to calculate budgets, financial statements, and tax filings. By default, Salesforce uses the standard Gregorian calendar for its fiscal year, which starts on January 1st and ends on December 31st.

However, some organizations may have fiscal years that don't follow the Gregorian calendar. For example, a fiscal year may start on April 1st and end on March 31st of the following year. In such cases, Salesforce provides the Custom Fiscal Year feature, which allows organizations to set up their fiscal year according to their specific needs.

Therefore, if your company follows a fiscal year that does not align with the standard Gregorian calendar, you must use Custom Fiscal Years in Salesforce. Otherwise, you can use the default fiscal year settings in Salesforce.

To set up Custom Fiscal Years in Salesforce, an organization's administrator can navigate to Setup > Company Settings > Fiscal Year. From there, they can create a new fiscal year and set the start and end dates, the number of periods in the fiscal year, and other related settings.