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Saturday, January 31, 2009

Fiscal year Variant – OB29


FICO Configuration Series – Part 3


Fiscal year variant


The fiscal year variant determines the posting periods to be used by the client's company. SAP allows a maximum of 16 posting periods each fiscal year - normally 12 regular posting periods and 4 special posting periods are used. The special posting periods are used for posting audit or tax adjustments to a closed fiscal year.


Financial Accounting >> Financial Accounting Global settings >> Fiscal Year >> maintain Fiscal year variant (maintain shortened fiscal year)


Transaction Code: OB29


You can copy existing values or create ones from scratch.


Financial Year Variant: Enter the two-digit alphanumeric identifier of your fiscal year variant. Avoid using K or V as the first character as SAP delivered financial year variants use them.


Calendar Year: Set this indicator if the fiscal year is also the calendar year.


Year-Dependent: Set indicator if fiscal year is changing from year to year.


Number of Posting Periods: Enter the Number of normal posting periods (maximum is 12) [correction based on comment - can be more than 12, thanks to Singh]


Number of Special Periods: Enter the Number of special posting periods


Annual Displacement: Enter values as -1, 0 or +1. For years which have the fiscal year same as the calendar year, always use 0. For -1 and +1 are used to offset whenever calendar year is different from the fiscal year.


Assignment: Saks Apparel operates on an April-March calendar month fiscal year. (So, copy any existing year variant that uses April-March year). Create a Financial year variant SA. We also setup 12 regular posting periods and 4 special posting periods.


Some more details on fiscal year variants configuration


4 comments:

  1. Hi
    My client want to change the fiscal year variant from 12 posting periods with 4 special periods to 18 posting periods with 4 specail periods in February month as decided by the management. As 18 months accounts are need to be finalised and P&L and B/s to be prepared.
    So how to suggest the client?
    Pls urgently asking to suggest what method can be advise to follow the by the client.

    ReplyDelete
  2. it's good to see this information in your post, i was looking the same but there was not any proper resource, thanx now i have the link which i was looking for my research.

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    ReplyDelete
  3. Just want to clarify that we can have more than 12 normal posting periods in a fiscal year.

    ReplyDelete