As the name implies it should be configured to match your client’s accounting year.

The Fiscal Year Variant is very flexible and can be configured to match any organization’s fiscal calendar.

SAP allows a maximum of 16 postings within a fiscal year. The 16 posting periods normally comprise of 12
regular posting periods and 4 special periods, which can be used for such things as posting audits or tax adjustments to a closed fiscal period.

Having four special posting periods gives you a lot of flexibility. You may want to use one special period for each quarter and year-end audit and/or tax adjustments.

When you close a period or year in SAP you define which regular and which special posting periods are allowed for posting. Because the default period for each posting is one of the 12 regular posting periods you can be safe by keeping open one or more special posting periods for posting.

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For every company code, you must specify which fiscal year variant is to be used.

IMG Path: Financial Accounting > Financial Accounting Global Settings > Fiscal Year > Assign Company Code to a Fiscal Year Variant

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IMG Path: Financial Accounting>Financial Accounting Global Settings>Fiscal Year>Maintain Fiscal Year Variant

The important field in configuration are as below:

Fiscal year variants year-dependent Indicator:

Indicator that the allocation of posting periods to calendar days must be made individually for each year. This is necessary if the end of the period is not linked to a fixed calendar day.

Determine periods like calendar year Indicator:

Indicator that the posting periods match the months of the calendar year.

Number of posting periods field

The fiscal year in SAP can be subdivided into up to 16 periods. These are divided into normal posting periods and special periods for closing purposes. This field contains the number of normal posting periods.

Number of special periods

Special periods in SAP represent an extension of the last normal posting period. When the posting date falls within the last normal posting period, then during document entry you can specify that the transaction figures be updated separately in one of the special periods.

In this case, you can select as many special periods as you have specified here.

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You can define how many posting periods a fiscal year has in SAP, how many SAP special periods you need, and how the system is to determine the posting periods when posting for a fiscal year variant.

Fiscal year

Fiscal year variant shows impacts how data is reported to regulatory, authorities and shareholders. The fiscal year can be configured as a calendar year or user defined. For example, some company’s fiscal year begins at 1st May. However, a fiscal period can also be calendar months or user defined.

SAP provides 4 special posting periods. These are for use during year end close. Each time the year end figures are reviewed, the adjustments can be posted into a new special period. The use of them is optional in SAP. They can only be posted to if the posting date falls in the last fiscal period.

Periods are then closed in the system to prevent documents from being posted to an incorrect posting period after the period end closing.

We need to do the following step are:

1. Maintain Fiscal Year Variant (transaction code:OB29)
2. Assign Company Code to a Fiscal Year Variant (transaction code:OB37)

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