Fiscal year variant and its use in SAP

Fiscal year variant (FYV) contains the definition of posting periods and special posting periods. When a business transaction is entered, it needs to be posted to a particular period. Determination of such period of posting is defined in FYV. In the process you have to first define a FYV based on your requirements and then … Read More » "Fiscal year variant and its use in SAP"

Posting Period Variant Creation, Use and Effect in SAP FI

Posting periods are defined in fiscal year variant. You can open and close such periods in a posting period variant. To prevent wrong posting to a particular month you need to periodically close these periods which as per the business process need to be closed in financial accounting. The best business practice is to always … Read More » "Posting Period Variant Creation, Use and Effect in SAP FI"