Fiscal Year and Posting Period Variants

Fiscal Year Variant


Financial Accounting (New) > Ledgers >Fiscal Year and Posting Periods >Maintain Fiscal Year Variant (OB29)

Fiscal Year variant contains the characteristics of the Financial Year for Accounting. This contains

a)      no. of posting periods in the Fiscal Year

b)      no. of special period at the end of Fiscal Year

c)       Weather the fiscal year follows a calendar year (Jan-Dec) or some other (Apr-Mar etc.)

d)      In case the posting period should be separately for each year.

Ex 1. Jan-Dec with 4 special period

In the above example, we have created N9 Fiscal year variant ;

a)      With 12 posting periods  and

b)       4 special periods for closing operations

c)       This variant follows Calendar year ie. 1^st period will by Jan, 2^nd Feb etc.

d)      Finally posting periods will not change year on year i.e. 1^st period of each financial year will be Jan and 12^th period will always be December.

 Ex 2. Apr-Mar 4 special periods (ex- year 2010-11)

In the above example, we have created A9 Fiscal year variant ;

e)       With 12 posting periods  and

f)         4 special periods for closing operations

g)       In this example Calendar year check box is not checked. So, this variant does not follows Calendar year ie. 1^st period will not be by Jan or 12th period as Dec etc.

In this case we need to maintain periods i.e. which calendar month will be first  month of the Financial year. In this example the first month is Apr. So the periods will be maintained as shown below

In the Periods section,

a.      first column Month represents the calendar month i.e. 1 represents Jan, 2- Feb and so on.

b.      Second column Day represents no. of days in the month

c.       Third column Periods represent the month in the financial year. Now this is important, here 1^st period in the financial year is April so we have maintained 1 representing the first period of financial year against 4^th period in column Month. Similarly Month 5 – period 2, Month 6 – period 3 and so on, finally Month 3(March) will be the 12^th period.

d.      In this example the financial year comes in two calendar years. For example Apr 2010 to March 2011, in this case 1^st period to 9^th period will fall in 2010 and 10^th to 12^th periods in 2011.

Now the 1^st month represents 10^th period of the financial year, to make sap understand that 10^th period represents financial year started in 2010 we need to maintain year shift.

For current year we maintain 0 and for the months falling in next calendar year as -1.

h)      posting periods will not change year on year i.e. 1^st period of each financial year will be Jan and 12^th period will always be December.

Period Text

Here we can maintain the text for the periods as shown below.

Shortened Fiscal Year and Posting Period Variant will be discussed in next blog...