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author's profile photo Former Member
Former Member

Fiscal year variant for Assets

Hi guys,

Please explain the importance of fiscal year variant for assets. Since the we were set up the different fiscal year variant for Fiance ( 12 normal periods) but we set up for different fiscal year variant ( 24 period ) for assets.

What is the purpose of maintaining the different fiscal year for finance & assets. How will these different year are adjusted for the finance & assets.

Please let me know your thoughts on this.

Thanks

Ram

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  • author's profile photo Former Member
    Former Member
    Posted on Dec 22, 2008 at 07:26 AM

    you specify a fiscal year version for Asset Accounting on depreciation area level that is different to the one for the FI General Ledger.

    Example

    You would like to work with 13 normal periods (plant calendar) for book depreciation, and 12 periods for tax depreciation, because you need half periods (see Using Half Periods). In this case, it is possible to use a different fiscal year version in the tax depreciation area than in the book depreciation area.

    Usually you do not need a different fiscal year version for Asset Accounting. If this is the case, you do not need to make any system settings here.

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