The MIS makes extensive use of annual and monthly time cycles to stabilise reporting.  These are similar to a calendar year or month except that the last day of a MIS cycle does not have to be the last day of the year or month.  The last day of the March cycle may for instance be the 10^th of April.  This allows certain actions to be completed beyond the end of the calendar month that will still for reporting purposes reflect against the March cycle.

Annual cycles apply primarily to Allocations and Payment Schedules in the Funding Administration application.

Monthly cycles apply primarily to:

1.   Cash flow projections provided in MIG 4, 5, 6 and 8 forms.

2.   Manipulation of cash flows in the Cash flow Tab of the Project overview module.

3.   Updating schedules in the Payment Schedules module.

The implication of the above is that if the monthly cycle is set for the March cycle to end on the 10^th of April, cash flows updated before midnight on the 10^th of April will reflect under the March cycle.  Once the cycle has closed, you will no longer be able to the update cash flow for that month, only future months.