What is the Tcode for fiscal year variant in SAP?

What is the Tcode for fiscal year variant in SAP?

OB29
Path: Financial Accounting >> Financial Accounting Global settings >> Fiscal Year >> maintain Fiscal year variant (maintain shortened fiscal year) Transaction Code: OB29.

How do you maintain a fiscal year variant in SAP?

Go to SPRO → SAP Reference IMG → Financial Accounting → Financial Accounting Global Setting → Fiscal Years → Maintain Fiscal year variant → Execute.

How do you assign a fiscal year variant in SAP?

Step 1) Enter transaction code “OB37” in the SAP command field and press enter to continue. Step 2) On change view “Assign Comp. Code –> Fiscal year variant”: Overview screen, click on position button and update your company code in the given field. So the company code displays in the top of the screen.

How many types of fiscal year variants are there in SAP?

FYV in SAP are of two types; Independent FYV (Fiscal Year Independent) Dependent FYV (Fiscal Year Dependent)

What is fiscal year variant?

Definition. The fiscal year variant contains the number of posting periods in the fiscal year and the number of special periods. You can define a maximum of 16 posting periods for each fiscal year in the Controlling component (CO).

What is a fiscal year and fiscal year variant?

Definition. Fiscal year variants (FYV) define the relationship between the calendar year and the fiscal year. They specify the number of periods and special periods and the start and end date of a fiscal year. In addition, they define how the system determines the posting period to assign when posting a journal entry.

What is the purpose of fiscal year variant in SAP?

In SAP, Fiscal year variant (FYV) is a variant that controls parameters for a financial year, such as managing financial accounting year and posting period variants to open and close posting periods.

What does the fiscal year variant control?

What is fiscal year variant K4 in SAP?

The FY variant determines the financial periods and calendar assignments, which you use to post documents in financial accounting. A commonly used standard SAP FY variant is K4, which matches the calendar periods: period 01 corresponds to January, period 02 to February, period 03 to March, and so on.

What is fiscal year variant K1 in SAP?

A fiscal year is the accounting period, which normally spreads over 12 months. The fiscal year, in SAP, is defined as a Fiscal Year Variant. All Calendar Year Fiscal Year Variants, in standard SAP, are denoted usually as K1, K2, etc. The fiscal year may or may not correspond to the calendar year.

How to check V3 fiscal year variant in SAP?

Step 1) Enter T Code “OB29” in the SAP command field and enter. Step 2) Select position button and update V3 fiscal year variant. Press enter to continue. Step 3) Select V3 fiscal variant key and double click on periods folder. Step 4) Now check calendar month, calendar day, period and year shift.

How to define fiscal year with posting periods in SAP?

To separate the business transactions into different periods, a fiscal year with posting periods has to be defined in SAP. Fiscal year in SAP is defined as variant and should be assigned to a company code. The fiscal year variant contains both posting periods and special periods.

Can one fiscal year variant be assigned to multiple company codes?

One fiscal year variant can be assigned to multiple company codes. However when posting periods are defined there can be different scenarios, based on which the periods need to be defined in SAP: The document aims to provide details of the configurations required to define the posting periods for the above scenarios.

How do I enter a fiscal year in SAP Spro?

Go to SPRO → SAP Reference IMG → Financial Accounting → Financial Accounting Global Setting → Fiscal Years → Maintain Fiscal year variant → Execute. It will open the following window. Click New Entries and it will open a new window as shown below. FV − Enter 2-digit Fiscal year.