POSTING PERIOD

 Posting period 

These are the periods of time that define a company's fiscal year. Posting periods are generally to maintain accounting periods so that periods are open for postings and remaining balancing periods are for closed periods. For generating financial reporting these periods are required. Each posting period has the active and current posting period with unlocked status. All types of business transactions are posted to this period. Each business transaction can be posted to different periods depending on the accounting or fiscal year.

A posting period can be defined using 3 fields

• Define variant for open posting periods
• Assign fiscal year variant to company code
• Open and close posting periods

 

Define variants for open posting period

[T code - OBBO]

PATH:

STEP 1

Enter SPRO in the command field.

STEP 2

Select SAP Reference IMG

STEP 3

Financial accounting (new) >> financial accounting global settings (new) >> ledgers>> fiscal years and posting periods >> define variants for open posting periods

STEP 4

Select new entries button

STEP 5

Enter the company code to the variant and name it.

Select the save button and save in TR.

 

Assign variants to company code

After creation of a variant, it is mandatory to assign a variant to company code. One posting period variant can be assigned to many different company codes.

[T code - OBBP]

PATH:

STEP 1

Enter SPRO in the command field.

STEP 2

Select SAP Reference IMG

STEP 3

Financial accounting (new) >> financial accounting global settings (new) >> ledgers >> fiscal years and posting periods >> assign variants to company code

Select position button

Enter company code and press enter

Assign variant to company code

Select the save button and save in TR.

 

Open and close posting period

In a specific time period, the posting period allows you to post and make changes in the documents. SAP has given a facility to open 2 different periods at a time for open and close posting periods. Posting periods should be maintained against the posting period variant.

[T code - OB52] OR [S_ALR_87003642]

PATH:

STEP 1

Enter SPRO in the command field.

STEP 2

Select SAP Reference IMG

STEP 3

Financial accounting (new) >> financial accounting global settings (new) >> ledgers>> fiscal years and posting periods >> open and close posting period

STEP 4

Select new entries button

STEP 5

Provide the name of the variant, account details, and the year allowed for posting.

Var.- 4-character variant code

Account type

[+] valid for all account type

[A] Asset

[D] Customer

[K] vendor

[M] Materials

[S] General ledger account

From per.1 - starting period

Year - enter year

To per.1 - ending period

From per.2 - first special period

Year -

To per.2 -

Year -

Authorized group

 Select save button save in TR.

Note * Regular posting periods (current period) are maintained in from per.1 and To period columns while special posting periods are maintained in From per.2 and To period columns. By using a special posting period, we are able to post an entry in financial accounting i.e. 13,14,15,16 special periods. Basically, special posting periods are used for adjustments to entries in the fiscal year.

*AuGr  - Authorization group. SAP has facilitated us by providing an authorization group which helps to limit a set of users who can maintain or manage posting periods. Authorization groups should be maintained in the user profiles to allow them to perform the operation of maintaining SAP FI posting period.

 

Posting period entry at end user area

It is for end user area

Accounting >> financial accounting >> general ledger >> environment >> current settings >> S_ALR_87003642- open and close posting periods

Select position button

Select Posting period variant from drop down button and press enter

Questions related to:

1. What is the posting period?
Posting period is for maintaining the accounting periods so that periods are open for postings and remaining balancing periods are for closed periods.

2. What is the requirement of the posting period?
The requirement of posting periods is for maintaining the accounting periods and for generating financial reporting these periods.