Here I am going to create shortened fiscal year variant in SAP.
The period from which the financial records are maintained is called Fiscal Year and it is divided into posting period and each posting period has a start date and finished date and when you post any document you must have to give a valid open period to post the document.And you can also define for the year end closing.
A fiscal year can have maximum 12 posting periods and 4 special periods and in general purpose ledger you can define up to 366 posting periods and defining fiscal year variant is mandatory part and you can have a fiscal year variant for several company codes.
SPRO>IMG>Financial Accounting New>FA Global Settings(New) >Fiscal Year and Posting Periods>Maintain Fiscal Year Variant (Maintain Shortened Fisc. Year)
To meet the requirement of business scenarios, we need to perform the following changes in SAP:
- Creation of New Fiscal Year Variant, we need to copy a SAP provided Standard Variant, here we have copied from R1 TO R2
2. New variant to be made year dependant. Year dependent status to be extended for required number of past and future years to create the number of periods in terms of month
R2 is year Dependent, No of posting period is 12 and number of special period is 4
Click on periods
Some organizations maintain records from April to march and some from January to December and depending on requirement some make in other way.Here month column is calendar year,(English year) day is number of days in that month, period is your financial posting period here April is first month.After making this setting come back
Click on period text.
Click on Shortened Fiscal Years.
3. The new Fiscal Year Variant to be shortened on the basis of number of periods under consideration
Click on back button
Select the variant and click on periods
Now here give the year for which you will be going enter i.e. coming financial year
Click back button
Click on back button
Specify number of posting period, here its 6.
4. The Fiscal Year Variant to be assigned to all Co Codes involved(OB37)
Assign company code to fiscal year variant.
5. Change of Fiscal Year Variant in Controlling Area(OKKP)
6.Fiscal Year to be shortened for depreciation areas in asset accounting customization(OAYP)
7. Table T093C to be viewed to check whether the field XRUMPF(Shortend Fiscal Year) has been activated with “X”, if the field is found to be blank then we need to refer to SAP Note 123026 and then execute program ZRUMPF, that will activate XRUMPF IN T093C
XRUMPF(Shortened FYear) to be X means it is active now. Else we have to run note 123026
8) Recalculate Depreciation to be executed (AFAR). This will adjust the planned depreciation according to the number of periods in the shortened fiscal year.
9) After checking the recalculated depreciation , Depreciation run (AFAB) and other closing activities to be performed as per normal procedure.
RELEVANT SAP NOTES:
SAP Note 123036 to be applied for activation of field XRUMPF ( Shortened Fiscal Year ) in Table T093C. Some of the related notes are 672255, 506622 , 484048 , 183546 , 26891 etc . SAP Note 373894 is a very important master note.
Run OBH2 and copy Number ranges to New Year and then close FI and MM Period and open new MM Period