Yes. Click File>Committee Info>C4 reporting periods. Choose which ballot your candidate’s name will be on or that your committee will be participating in. If you choose “Unknown Ballot” you will not have reporting periods past June.
A continuing PAC that is not participating in a specific election may need to create additional reporting periods. You can create custom reporting periods in ORCA. Click File>Committee Information>C4 Reporting Periods. Select “Unknown Ballot”. Click Create Custom Reporting Periods>Edit Custom Periods. You will see a button “Append” with the number 6 next to it. Click “Append” and then click OK.