New release: First Steps in SAP FI Configuration Excerpt

Posting periods
Posting period represents the accounting period in which the transaction will be recorded. A detailed discussion on posting period configuration is beyond the scope of this text; however, because the posting dates for accounting entries must fall within the posting period definitions, some discussion is warranted.

Posting periods are defined in “fiscal year variants.” SAP FI delivers several fiscal year variants, the most common of which is “K4” which specifies a calendar year of 12 posting periods that match calendar months and 4 special periods that can be used for adjustments. You may recall (Figure 1.19) that variant “K4” was configured in the global parameters for our new company code.

Transaction code OB29 can be used to view or change fiscal year variants and the number of posting periods.

Figure 1.58: OB29 – Fiscal year variants

Posting period variants
A posting period variant controls which fiscal periods are open for transaction processing. After a period is closed, for example, you can lock it down so that no additional entries are made in that period. Because different company codes may have different requirements, the lock down is done by posting period variant. A company code can only be assigned one posting period variant; however several company codes can be assigned to one posting period variant.

Transaction code OB52 is used to open or close posting periods to activity for specific posting period variants. As shown in Figure 1.59, SAP FI provides a lot of flexibility with the control of open posting periods.

Figure 1.59: OB52, open or close posting periods

Keep reading in  First Steps in SAP FI Configuration by Ann Cacciottoli.

This book offers a comprehensive introduction to the fundamentals of SAP ERP Financials (FI) configuration. Dive into configuration details for general ledger (FI-GL), accounts receivable (FI-AR), and accounts payable (FI-AP) transactions. You›ll learn about the primary features and functions of SAP FI configuration including how to create company codes and chart of accounts, assign a controlling area, and define number ranges. Get tips for automatic posting rules and posting periods. Gain proficiency navigating in SAP FI, including how to access configuration transactions. Walk through step-by-step instructions for executing transport request configuration. Get exposure to advanced SAP FI configuration topics including SAP tables, SE11, SE16N, and SQVI. This introductory guide to SAP FI configuration covers:

– Get an overview of SAP Financials configuration
– Explore fundamental aspects of FI-GL, FI-AR, and FI-AP configuration
– Learn how to create, define, and assign company codes and chart of accounts
– Obtain hands-on instruction based on examples and screenshots

Author Ann Cacciottoli is a Specialist Senior with Deloitte, the world’s largest professional services firm. She has extensive experience delivering SAP solutions, with a focus on SAP Financials and Reporting. Her client-service work has taken her to Europe, Asia, and throughout the United States. Ann is passionate about sharing her knowledge and experience with those new to SAP. She is also the author of First Steps in SAP Financial Accounting (FI).