Maintain Fiscal Year Variant

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IMG -> Financial Accounting -> Financial Accounting Global Setting -> Fiscal Year -> Maintain Fiscal Year Variant (Maintain Fiscal Year)

Transaction Code is OB29

We can define the following characteristics for a fiscal year variant in SAP.

To separate business transactions into different periods, a fiscal year with posting periods has to be defined.

The fiscal year variant defines the number of posting periods a fiscal year can have, along with the special periods we need, this helps the system is to determine the posting periods when postings are done.

When defining the fiscal year, we can choose out of the following options.

Ø  The fiscal year is the calendar year in this case; we must only select the calendar year field.

Ø  The fiscal year is not the same as the calendar year and is not year dependent. In this case: we first enter the number of the posting periods in the number posting per. Field. To define the posting periods, select our fiscal year variant and select periods on the navigation screen. On this screen, enter the month and the day of the period end and the period in each case.

Ø  The fiscal year is not the same as the calendar year and is year-dependent. We can enter number of posting periods in the field number posting periods and select the field Year-dependent. To define our posting periods, select our fiscal year variant and select periods on the navigation screen. The system asks for which calendar year our year-dependent fiscal year variant is valid. We then enter the month and day of the period end for each of our periods, and the periods themselves. We can use the standard fiscal year variant K4 in SAP where the financial accounting year corresponds to January to December. In case the financial accounting year is April to March, We can use the standard fiscal year variant V3 in SAP.

We can copy and create new variants, but we should keep in mind that it should start with Z as the starting character.

In our example we will use the standard fiscal year variant K4.

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