What is Fiscal Year And Fiscal Year Variant?
Fiscal Year is nothing but the accounting period which normally spreads over 12 months. The financial statements are drawn for a fiscal year in SAP. In SAP Fiscal year is defined as Fiscal Year Variant. Customizing Tr. Code – OB29.
Fiscal Year Variant
Fiscal Year Variant in SAP is a fiscal year which can be defined as a time period used to make the financial statements within an organization. This Fiscal Year Variant holds the total 16 numbers of posting periods in which 12 normal posting periods and 4 special periods. For fiscal year one can only define 16 posting periods in every one year within CO (Controlling Component) by a start date and end date. Special periods are special so one can use them for year end activities. And one can define it by following the below mentioned steps:
For this go to Customizing for Financial Accounting (FI), Financial Accounting Global Settings Fiscal Year.
In SAP Fiscal year can be defined as year independent and year dependent.
- Year Dependent: In this periods can vary from year to year.
- Year Independent: In this one can made same number and dates for periods each year.
All Calendar Year Fiscal Year Variant in SAP are denoted usually as K1, K2, K3, and K4. All Non-Calendar Year Fiscal Year variants - Fiscal year may or may not correspond to the calendar year are denoted by V3, V6 and V9.