// Fiscal year variant specifies the number of posting periods and special periods in a fiscal year. It also specifies how the SAP system determines the assigned posting periods. The fiscal year variant should be configured to match the Company’s fiscal year. It is flexible enough to satisfy your Client’s requirements notwithstanding its fiscal year [...]

Financial Statement Version is a hierarchical listing and positioning of G/L accounts. It groups together related accounts into financial statement report format (Balance sheet & Income Statement) for the purpose of financial reporting. The financial statement version is link with the company code through the Chart of Accounts. Note that there should be one chart [...]

There are sixteen (16) posting periods in an SAP system. The 1st 12 periods represent the normal period in a fiscal year which represent the month. Say for example the fiscal year of a Company is the normal calendar which starts from January and ends in December. January represent period 1, February represent period 2, [...]

Most SAP people might be asking, what is a reconciliation account and special general ledger indicator in SAP Financial Accounting? Well, my dear readers surely you will be enlightened by this article. First, you must understand the definition of general ledger. General ledger is the main accounting record of a business which uses double-entry bookkeeping. [...]

Here’s a simple and quick guide on how to configure SAP Credit Management. A. Define Credit Control Area – a credit control area is an organizational unit in SAP which specifies and checks a credit limit for customers. Assignment rule is; more than one company code can use the same credit control area. However, one [...]