Fiscal Year Variant in sap

Definition Fiscal year:-
A fiscal year is divided into a number of posting periods, and each posting period in an accounting period is defined by a start date and end date

The fiscal year in SAP can be defined as year-dependent or Year Independent

  • Year independent –  Same number and dates for the periods every year
  • year dependent – Periods can be different from year to year

 

Define Fiscal year Variant:- Fiscal year variant is used to define the fiscal year
A Fiscal year variant contains the 12 normal posting periods and 4 special periods. We can define a maximum of 16 posting periods for each year.  Special periods are used for Year-end activities

Fiscal Year Variant in SAP – Scenarios

  1. Standard SAP system delivers with server fiscal variant keys to meet business requirements.
  2. You can use the standard fiscal year variants as per your organisation’s needs.
  3. You can define FYV as – Calendar fiscal year variant, Shortened Fiscal year variant, Non-calendar fiscal year variant.

Steps for configuring the Fiscal year variant:-

  • Transaction code: OB29
  • IMG Path: SPRO > SAP Reference IMG > Financial Accounting > Fiscal year > Maintain Fiscal year Variant

Step 1:-  

      Enter SPRO Transaction Code in the SAP Command field and press enter

SPRO1

Step 2:-

 In the next screen, select SAP Reference IMG

sapri

Step 3:-

    In the next screen, Display IMF, follow the Menu path

SAP Reference IMG –> Financial Accounting –> Global Settings –> Fiscal Year –>Maintain Fiscal Year Variant

Create Fiscal Year Variant in sap

Step 4:- On change view “Fiscal Year Variants”, it displays the list of standard Fiscal year variants.

  • For country India, you can use the FV: V3
  • For Country US, you can use the FV: K3,

However, you can also define a new Fiscal variant by copying from the existing variant or using the new entries functions. In this scenario, we are going to define a new Variant by using the new Entries.

Click on the New Entries to create a New fiscal year variant

Create Fiscal Year Variant in sap

Step 5:–

 On the new entries of the fiscal year variant screen, update the following information.

Create Fiscal Year Variant in sap

1. In the field Fiscal year variant FV, enter the two digits unique code

2. In the description field, update the name of Fiscal year Variant

3. Select the year-Dependent option if the Periods  are different from year to year

4. Select the Calendar yr option  if the same number and dates for the periods of every year

5. Update 12 in the Number of Posting periods field

6. Update 4 in the No. of Special Periods Field.

After updating the required data and click on the save icon

Step 6:– Now update the periods for the fiscal year variant.

It is a mandatory step to update the periods for the Fiscal year variant; if you don’t update periods, when you are posting documents – you will get an error as “For the AD Fiscal year variant, no period is defined for.

    Block Fiscal Year Variant AD and Double Click on Periods folder

Create Fiscal Year Variant in sap

Step 7:-

          Select New Entries Button

Create Fiscal Year Variant in sap

Step 8:-  Maintain the Periods for the Fiscal Year

  1. First Column – Month
  2. Second Column – Day
  3. Third Column – Period
  4. Fourth column – Year Shift

Create Fiscal Year Variant in sap

After Maintain Fiscal Year Variant Periods, Click and Save icon.

Thus the Fiscal Year Variant Ad is created.