fiscal year variant and posting period variant.

[Former Member]

What differentiates the fiscal year variant from posting period variant? In both the settings we use 12 posting periods (for e.g.) then why both need to be configured?

thanks,

aruna.

[Former Member]

Hello aruna,

Fiscal year variant and Posting period variant are differentiated based on their purpose. While fiscal year variant is to define no of posting a period allowed and is assigned to co code, posting period variant is to decide which periods can be opened at particular point of time for posting. Separate rules can be defined for each type of account. This is used for control purpose.

regards,

shashikanth.

[former_member601419]

Fiscal year variant determines if you are using calendar dependent year or year dependent ( where you can create your own periods) eg you want your period 1 to be April period 2 to be May and so on.

Posting period determines which period is open. Your company code is tied to a posting period variant. Each posting period variant is tied to an account type ( GL, vendor Asset etc)

Here you determine if period 1 should be open or period 2 etc.

Hope this helps

Points will be appreciated

Regards,

Zaid Azam