A Holiday Period Schedule allows you to have more than one holiday period running concurrently at a time, and is used when different groups of employees have holiday years that end at different times. For example, when your standard holiday year runs from January to December but some employees have holiday years that match the tax year, you would use two different Holiday Period Schedules.
To create a new schedule, go to the Administration section in the system and select "Holiday Periods". On the page shown, use the "Add A New Holiday Period Schedule" link at the top of the page and, when the dialog box appears, enter the name for the new schedule and the date the periods within the schedule end. Finally, click "Add Schedule" to create the new schedule.