Fiscal year variant contains the number of posting periods in a fiscal year and the number of special periods. You can define up to 16 posting periods in a fiscal year in the controlling component CO.
You need to specify the fiscal year variant for each company code. When you create a controlling area, you also need to specify the fiscal year variant.
The fiscal year variants of the company code and controlling area may only differ in the number of special periods used. You need to ensure that the fiscal year variants match. In other words, they may not have a time conflict.
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.
Provide the following details −
FV − Enter 2-digit Fiscal year.
Description − Enter a description of the Fiscal year variant.
Year Dependent − If the start and the end date of the fiscal year changes between year, then check this box.
Calendar Year − If the fiscal year is same as the calendar year Jan-Dec, then check this option.
Number of Postings − Enter the number of posting periods for a Fiscal year.
Number of special postings − Enter the number of special posting periods for a fiscal year.
The next step is to save the details. Enter the customizing request number that a new fiscal year variant is created.
You can maintain the posting period by using the Period option under the Fiscal year variant.