Basic configuration in SAP FI to create GL accounts

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Financial accounting Global Settings:

The Variant Principle:

The Variant Principle is a Three Step Method used in the SAP system to assign particular properties to one or more objects, the steps are;

1.     Define The Variant.

2.     Determine Values For The Variant.

3.     Assign The Variant To The Object.

Maintain Fiscal Year Variant:

A Fiscal Year or the Financial Year is usually a period of twelve months for which a company regularly creates an inventory and financial statements. The screen shot explains the navigation and the creation of Fiscal Year Variant. The Fiscal year variant is categorized into three types namely

1.     Year Independent FYV.

2.     Year dependent FYV.

3.     Shortened FYV.

Year Independent:

The starting date and the ending date of the Fiscal doesn’t change according to the year, this type of FYV is called year independent. For e.g. FY of INDIA, irrespective of the year the FYV is from APRIL 1^ST to MARCH 31^st. Creation of this type of FYV is explained below with screen shorts.

Year Dependent:

The starting date and the ending date change every year, this type of FYV which is dependent on the year is called year dependent FYV. The FYV must be changed every year to carry out transaction. For e.g. FY of USA, changes every year.

Shortened FYV:

This type of FYV is used to compensate the difference or the gap which occurs between FY usually this FYV will have less than 12 periods. Usage of SFYV is shown below with business scenarios as examples.

Scenario 1: Say the FY of USA is from JAN 1^ST to NOV 31^st this year (2011), and next year they use FY from MARCH 1^ST TO DEC 31^ST (2012), For this type of scenario Shortened FYV is incorporated to fill the GAP between DEC 1^ST (2011) TO FEB 28^TH (2012).  

Scenario 2: Suppose the business of an Company starts in between there FYV say OCT 1^ST and ends at MAR 31^st  so to do posting SFYV is created and used for the first year of their business.                            

Fiscal Year Variant ‘LO-YEAR INDEPENDENT’ is defined in the screen above, The periods of the FYV is determined below which is a 12period & 4special posting period variant. The Fiscal year followed in India is Year Independent which is from APRIL 1^ST to MARCH 31^ST irrespective of the year.

The year shift which indicates ‘-1’ is the months of last year and the year shift ‘0’ indicates the months of the present years.

Thus the FYV is assigned to Company Code 1000 & 2000.

Note: The fiscal year variant doesn’t specify whether a period is open or closed, it only defines the number of periods and their start & finish days.

Special Posting Period:

In order to ensure that you can compare the closing months with the other periods of the fiscal year, we make closing posting in the special periods for e.g. 12 posting periods & 4 special posting periods. These special posting periods could be

1.     Accruals & deferrals.

2.     Audit posting.

3.     General meeting of share holders.

4.     Adjustment Postings. Etc .

Posting Period variant:

It is responsible for the opening & closing of periods in a Fiscal year for posting to take place. You can specify which company codes are open for posting in a posting period variant. Posting period variants are cross-company code and you have to assign them to your company codes. The posting periods are then opened and closed simultaneously for all company codes via the posting period variants.

Working with posting period variants is recommended if you are responsible for a large number of company codes. Since you only have to open and close the posting period once for the variant, your work is considerably reduced. Posting Period Variant can control posting according to the account type also. The configuration of Posting Period variant is explained below

The Posting Period Variant is defined for the company 4623. According to the variant principle the next step is to determine values for the variant,

Navigation is shown.

As the Screen shot explains the posting period can be maintained per account type and the year which is to be open & closed can be easily managed. ‘+’ determines the Masked account type applicable for all the account type, the posting is possible from 2011 to 2020 for periods 1 to 12 and the for periods 13 to 16 it is open from 2011 to 2021.

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