| Fiscal Year Varient & Posting
Periods Varient
What's the relation between between fiscal year varient & posting periods varient. --- Fiscal year variant determines if you are using calendar dependent year or year dependent (where you can create your own periods) eg you want your period 1 to be April period 2 to be May and so on. Posting period determines which period is open. Your company code is tied to a posting period variant. Each posting period variant is tied to an account type (GL, vendor Asset etc) Here you determine if period 1 should be open or period 2 etc. Fiscal year variant and Posting period variant are differentiated based on their purpose. While fiscal year variant is to define no of posting a period allowed and is assigned to co code, posting period variant is to decide which periods can be opened at particular point of time for posting. Separate rules can be defined for each type of account. This is used for control purpose. There isn't relation between Fiscal year variant and Posting period variant. But there is relation between Fical year and Posting Periods. Fiscal year structure contains posting periods. For each posting period we have specified day end. To process business transactions these posting periods must be in open status. You can open all the posting periods (or) you can restrict the posting periods by Account Type wise and Account No wise and Authorization group wise. To restrict the posting periods by Account Types wise first you need to open the posting periods for all Account Types (“+” symbol). Whether fiscal year is defined only at once or it is defined for each year. This depends upon the client requirement. Generally Fiscal year will be defined once. But in some cases (where business will run for certain period means business will run for 6 months or 8 months) evry year they will define fiscal year. Independent Fiscal Year: In any year the starting period and ending period will be same and same posting periods for continues years. It is called as INDEPENDANT F.Y. Dependant Fiscal Year: In any year the starting period and ending period may be different (or) if you have less than 12months, that fiscal year must be define as a DEPENDANT FISCAL YEAR (or) SHORT END FISCAL YEAR.
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