This is the area where you define the time division of a school day, known as periods. Fill in all the period names with the start & end times that are used in your school. To create periods go to School setup >> Periods. There are two checkboxes here - Used for attendance and Ignore for scheduling.
Used for Attendance
Checking this option will allow the teachers to take attendance on that particular period when that period is associated in a course period.
Ignore for scheduling
It is used to avoid period time clash while scheduling a student into 2 clashing course periods.
To delete a period, click on the red cross sign beside the period names. You can edit the period names with a click.