This video provides a comprehensive understanding of the fiscal year and posting period variant in SAP S/4HANA Financial Accounting (FI). Here are the key points:

  1. Fiscal Year Variant: The video explains that the fiscal year is a company’s financial year used to maintain balance sheets, profit and loss, and all external reports like the statement of cash flows and statement of changes in equity. The fiscal year has multiple periods, including normal periods and special periods. Normal periods are the regular months, while special periods are used to post adjustment entries.
  2. Defining Fiscal Year Variant: The video demonstrates how to define a fiscal year variant in the system. For the presenter’s company, they use a fiscal year from July to June. The presenter defines this in the system using the maintain fiscal year variant path.
  3. Posting Period Variant: The video explains that the posting period variant is used to close the month’s transactions in any specific period. For example, if the month of June is closed, the postings in June are restricted by using the posting period variant.
  4. Defining and Assigning Posting Period Variant: The video shows how to define a posting period variant and assign it to a company code.

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