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Maintain Fiscal
Year Variant (Maintain Shortened Fisc. Year)
You can define the following characteristics
for a fiscal year variant:
- how the system is to determine the posting
periods when posting
When defining your fiscal year, you have the
following options:
- Your fiscal year is the calendar
year
In this case, you
must only select the Calendar year
field.
- Your fiscal year is not the same as
the calendar year and is not year-dependent
In this case, you
first enter the number of your posting periods in the Number
posting per. field. To define your posting periods, select your
fiscal year variant and select Periods on the
navigation screen. On this screen, enter the month and the day of the period
end and the period in each case.
- Your fiscal year is not the same as
the calendar year and is year-dependent
Enter the number of
your posting periods in the field Number posting
periods and select the field
Year-dependent. To define your posting periods, select your
fiscal year variant and select Periods on the
navigation screen. The system asks for which calendar year your year-dependent
fiscal year variant is valid. You then enter the month and day of the period
end for each of your periods, and the periods themselves.
It is also possible to determine names for the
periods of a non-year-specific fiscal year variant. To do so, select your
fiscal year variant and choose Period texts on the
navigation screen. You can specify a three-character abbreviation (Jan, Feb,
Mar...) and a 20-character long text (January, February, March).
Standard
settings
The following fiscal year variants have been
created in the standard system:
- Variants in which the fiscal year is the same
as the calendar and has up to four special periods
- Variants for shortened fiscal years. For more
information on shortened fiscal years, see "Defining shortened fiscal
years".
- Variants for non-calendar fiscal
years:
- April to March with four special
periods
- July to June with four special
periods
- October to September with four special
periods
- Variants that are set up on a weekly basis.
These variants can only be used in the Special Purpose Ledger
application.
Activities
1. Check the
standard fiscal year variants.
2. Change the
existing variants, if necessary, or create your own variants.
Defining shortened fiscal
year
A shortened fiscal year is a fiscal year having
less than twelve months, but for which year-end closing must be carried out.
The definition of a shortened fiscal year is always year-dependent, since it
represents a year-related exception. You must always define an entire calendar
year when defining a fiscal year variant. The year-related fiscal year variant
therefore contains not only the periods from the shortened fiscal year, but
also other periods from the previous or subsequent fiscal year.
There are two ways to define a shortened fiscal
year:
- If you use Financial Accounting
without Asset Accounting, you can begin a fiscal year with any
period.
Example
If your shortened
year goes from January to September, you can assign periods
004 to 012 . Assign periods 001 to
003 of the new fiscal year to the months
October-December.
Specify the number
of periods for the fiscal year variant (12 in the example above).
Note
Keep in mind that
the last period of a fiscal year must correspond to the number of periods in
that year. This means that if you want to define 12 periods, the last period
in that year must be number 12.
- If you implement the Asset
Accounting component, each fiscal year must begin with period number
001 , to allow asset depreciation calculations to be carried
out accurately.
For a fiscal year
variant, specify the periods and the number of periods the shortened fiscal
year has. This way, each fiscal year of the variant can begin with period
001.
Example
If you define a
fiscal year with twelve periods, it can contain a shortened year with nine
periods (from 001 to 009). The remaining
calendar year contains the first three periods of the new fiscal year (periods
001 to 003).
For more information
about implementing the Asset Accounting component, see the Asset Accounting
documentation.
Note
You define your shortened year and the
following normal fiscal years under the same fiscal year variant. Bear in mind
that you generally need to ensure that it is possible to post to previous
fiscal years.
You need to keep the year-dependent fiscal year
variant for as long as you are posting in or prior to a shortened fiscal year,
or if you are transferring old data from this period. You cannot define year-
independent fiscal year variants until the shortened fiscal year has been
closed (from the accounting perspective), with no further adjustment postings
expected.
Year-dependent definitions will be deleted as
soon as you convert the fiscal year variants from year-dependent to
year-independent.
Standard
settings
Two shortened fiscal year variants are provided
with the standard system: variant R1 for a Financial
Accounting shortened year, and variant AM for shortened years
when Asset Accounting is in use.
Activities
1. If you need
to define a shortened fiscal year, first determine which of the two options
above will be used.
2. Define the
shortened fiscal year.
To define the
shortened year for Asset Accounting, select
Navigation -> Shortened
fisc.yr.