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Free and Open Source ERP - ERP next

  Introduction What is an ERP system? And why should businesses use it? Today, small and medium-sized businesses (SMEs) also face some of the problems that large enterprises do. One of them being planning and managing their resources. SMEs face similar complexities but have limited resources to deal with them. Small businesses (like their bigger counterparts) have to: Do accounts to track their sales/purchases. Do their taxes. Pay their employees. Manage deliveries within promised timelines. Deliver quality goods and services. Communicate with customers, answer their queries. Large enterprises invest millions of dollars in highly sophisticated systems like SAP. SAP and similar systems are able to handle requirements from these large enterprises to bring their  multi-country ,  multi-company ,  multi-currency , global businesses into a single platform. This has helped them achieve consolidation of data/records in the fundamental processes such as accounting, taxation,...
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SAP FI FISCAL YEAR VARIANT




Fiscal year variant contains the number of posting periods in a fiscal year and the number of special periods. You can define up to 16 posting periods in a fiscal year in the controlling component CO.

You need to specify the fiscal year variant for each company code. When you create a controlling area, you also need to specify the fiscal year variant.

The fiscal year variants of the company code and controlling area may only differ in the number of special periods used. You need to ensure that the fiscal year variants match. In other words, they may not have a time conflict.

How to create a Fiscal year variant?

Go to SPRO → SAP Reference IMG → Financial Accounting → Financial Accounting Global Setting → Fiscal Years → Maintain Fiscal year variant → Execute.

Create Fiscal Year Variant

It will open the following window.

Fiscal Year Variant

Click New Entries and it will open a new window as shown below.

New Entries Fiscal Year Variant

Provide the following details −

  • FV − Enter 2-digit Fiscal year.

  • Description − Enter a description of the Fiscal year variant.

  • Year Dependent − If the start and the end date of the fiscal year changes between year, then check this box.

  • Calendar Year − If the fiscal year is same as the calendar year Jan-Dec, then check this option.

  • Number of Postings − Enter the number of posting periods for a Fiscal year.

  • Number of special postings − Enter the number of special posting periods for a fiscal year.

The next step is to save the details. Enter the customizing request number that a new fiscal year variant is created.

Enter Customizing Number

You can maintain the posting period by using the Period option under the Fiscal year variant.

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