# Timings

## Overview

Each **Model** performs its calculations over a period of time that you define, whether that be 5 days, or 20 years. Every [**Variable**](https://help.taglo.io/variables) in the Model will have a value for each separate time interval in the model.

You can choose:

1. The [**Interval Type**](#interval-type) of the model (Days, Months, Years...)
2. The [**Start/End/Duration**](#start-end-duration) of the model
3. The [**Fiscal Year End**](#fiscal-year-end)

## Interval Type

Models offers 5 interval types: Day; Week; Month; Quarter; Year

This determines the length of an individual period of the Model. 

{% hint style="info" %}
Individual Model periods are always consecutive, and of the length of 1 interval. e.g. if the first period of a Model is a Week, ending on Friday 6th January 2023, the second period will be the week ending Friday 13th January 2023.
{% endhint %}

## Start/End/Duration

You must define the beginning and end of your Model Timings, which you can do by setting **any 2** of:

1. Start date
2. Duration (in number of intervals)
3. End date 

Setting any 2 of these will automatically update the third.

{% hint style="info" %}
There is no defined limit to the number of intervals to use in your Model, but be aware using a large number of intervals (e.g. >100) may cause performance issues, depending on Model complexity.
{% endhint %}

Start/End dates are entered as text, with the format determined by the selected Interval Type, as shown in the example image and table below.

<figure><img src="https://2847533834-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FVy65sax6FVoNo2UTlJ0x%2Fuploads%2FkYVbTzq7XtxTr3ZDNL8E%2Fimage.png?alt=media&#x26;token=91f7471c-32e1-4b47-b5f5-36909a57ba4e" alt=""><figcaption><p>Start/End date entry</p></figcaption></figure>

### Start/End Date text formats

<table><thead><tr><th width="221.33333333333331">Interval Type</th><th width="153">Text Format</th><th>Notes</th></tr></thead><tbody><tr><td>Day</td><td>yyyyMMdd</td><td>Year/Month/Day</td></tr><tr><td>Week</td><td>yyyyMMdd</td><td>Refers to the 7-day period ending at the entered date</td></tr><tr><td>Month</td><td>yyyyMM</td><td>Year/Month. Precise date will depend on <a href="#fiscal-year-end"><strong>Fiscal Year End</strong></a> settings.</td></tr><tr><td>Quarter (Option 1)</td><td>yyyyQ[1-4]</td><td>Precise date will depend on Fiscal Year End settings. <br><br>e.g. <strong>2020Q4</strong> refers to the last quarter of the 2020 fiscal year. If Fiscal Year End is set to March (End of Month), the precise date will be <strong>31st March 2020</strong>.</td></tr><tr><td>Quarter (Option 2)</td><td>yyyyMM</td><td>Precise date will depend on Fiscal Year End settings. <br><br>e.g. <strong>202003</strong> refers to March 2020. If Fiscal Year End is set to March (End of Month), this will be equivalent to <strong>2020Q4</strong> (31st March 2020).<br><br>A quarter entered in this format must be a valid quarter end month.</td></tr><tr><td>Year</td><td>yyyy</td><td>Precise date will depend on Fiscal Year End settings. </td></tr></tbody></table>

## Fiscal Year End

The Fiscal Year End (FYE) is how a business defines the end of its operating year, for accounting purposes.

e.g. a company's FYE might be 31st March, meaning that its company accounts will cover the period from 1st April one year to 31st March the next.

In the vast majority of instances, the FYE is at the end of the month (e.g. 31st Dec, 28th/29th February, 31st March). However, Models allows you to define an FYE at a specific day in a month (from 1-31). If a quarter ends in a month that has fewer days than the day specified, the end of that month will be used.

{% hint style="info" %}
Not all Models will be financial in nature, but you can still use the FYE to define when your intervals end.

e.g. if you want a yearly model that starts on March 5th every year, you would set the FYE as shown in the image below.&#x20;
{% endhint %}

<figure><img src="https://2847533834-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FVy65sax6FVoNo2UTlJ0x%2Fuploads%2FHXVxQJhb0RaSmTNlvJhP%2Fimage.png?alt=media&#x26;token=8d995a35-af41-4b2e-a765-4198632683cf" alt="Shows Fiscal Year End month entered as 3 (March), End of Month option selected as &#x22;Day in month&#x22;, and day of month entered as 4"><figcaption><p>Fiscal Year End entry</p></figcaption></figure>