Creating a new company in SAP ECC 6.0 – Part 2

<< Part 1 | Main Menu | Part3 >>

Maintain Fiscal Year | Assign company code to Fiscal Year | Define Variants for posting periods | Open and close posting periods | Assign Posting period variant to company code

 

1.     Maintain fiscal year variant

 

We need to define/maintain a Fiscal year, financial year or an accounting year which is 12 months plus an additional 4 months for adjustment entries.

In SAP, the first 12 months are the Posting Periods and the additional 4 months that are reserved for yearend adjustment entries are known as Special Periods. However, Special Periods are optional. A Company Code can have up to 16 posting periods max.

SAP supports the following types:

  1. Calendar Year : Jan to Dec
  2. Non Calendar Year : Apr to Mar (Indian Financial Year)
  3. Shortened Fiscal Year: Books are maintained only for fewer months or lesser than the usual 12 months. This happens in case a company acquires another company during the yearend or mid of any FY. (FY = Financial Year)!

 

  • SPRO > IMG > Financial Accounting > Financial Accounting Global Settings > Fiscal Year > Maintain fiscal year variant (Or TC: OB29)

Steps;

  1. Click on New Entries
  2. Select 2 characters Fiscal year Variant. (Eg: FW) and enter a description (Eg: April to March Plus 4 special periods)
  3. Uncheck/un-tick ‘Year Dependent’ and ‘Calendar Dependent’ fields or leave them blank;
  4. No of posting periods = 12
  5. No of special periods = 4
  6. SELECT/Highlight this line (in our example: FW) and double click on PERIODS (on the side menu)
  7. Click on New Entries
  8. Months: Under ‘Months” column enter 1 to 12 (Jan to Dec)
  9. Day: Jan has 31 days, Feb has 28 days and so on
  10. Period:This is our Financial Year (Apr to Mar = 12 months). Since Apr is our first Financial Month against the ‘4th month’ we mention ‘1’; May is our second month and so ‘2’ and so on. Our 10th month falls in Jan next year and we don’t want SAP to get confused! That’s why we mention “-1” under “YEAR SHIFT” header.  This tells SAP that we are now in the next year!:)
Months Day Period Year Shift
1 31 10 -1
2 28 11 -1
3 31 12 -1
4 30 1 0
5 31 2 0
6 30 3 0
7 31 4 0
8 31 5 0
9 30 6 0
10 31 7 0
11 30 8 0
12 31 9 0

Note1: If the Financial Year is different from year to year we tick/check ‘Year Dependent’. Eg this year Apr-Mar and the next year Apr-Dec (for any reason). If the Financial Year is from Jan to Dec we tick/check ‘Calendar Dependent’.

Note2: if you are practicing at any institute, keep pressing Enter key to save. This is because once you have saved your work the cursor jumps to various other companies that have not assigned company code to fiscal year. Since this is not your problem keep pressing the enter-key and save your work.

2.     Assign Company code to Fiscal Year Variant.

 

  • SPRO > IMG > Financial Accounting > Financial Accounting Global Setting > Fiscal Year > Assign Company code to Financial Year variant:

Steps:

  1. Click on Position
  2. Enter Company code (in our eg: ADFW) and hit enter key
  3. Under ‘Fiscal Year Variant’ heading type the newly defined variant. (In our example: FW)
  4. SAVE

Note: One Fiscal Year Variant can be assigned to multiple Company Codes

 

3.     Define variants for posting periods

 

  • SPRO > IMG > Financial Accounting > Financial Accounting Global Settings > Document > Posting Periods > Define variants for open posting periods

Steps:

  1. Chose ‘New entries’
  2. Enter 4 character unique variant (In our example: FWPP)
  3. Enter a name for your variant. (In our example “Posting period for ADFW)
  4. Save

 

4.     Open and close posting periods

 

  • SPRO > IMG > Financial Accounting > Financial Accounting Global Settings > Document > Posting Periods > Open and close posting period

Steps:

  1. New entries
  2. In our example enter as mentioned below (This is self explanatory)
  3. Under heading ‘A’ (Account Type) chose the ‘+’ (Valid for all account type) sign. To know other options keep your cursor under heading ‘A’ and click on the F4 button. This will give you more options available for this field.
VAR A From a/c To A/c From period 1 Year To Period 1 Year From period 2 Year To period 2 Year AuGr
FWPP + Blank Blank 1 2016 12 2017 13 2017 16 2017 Blank

VAR = FWPP
A = +
From A/c = Blank
To A/c = Blank
From Period1 = 1
Year = 2016
To Period1 =12
Year = 2017
From Period2 = 13 (Special Period)
Year = 2017
To Period2 = 16 (Special Period)
Year = 2017
Augr = Blank (Authorized group id)

and SAVE

 

5.     Assign posting period variant to company code

  • SPRO > IMG > Financial Accounting > Financial Accounting Global Settings > Document > Posting Periods > Assign variants to company code

Steps:

  1. Click on Position
  2. Enter company code (in our example: ADFW)
  3. Enter variant. If you do not remember your variant keep your cursor on the field and click F4 button. (In our example FWPP)
  4. Save
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