SAP FI Posting period variant is used to maintain accounting periods that are open for posting and all closed period are balanced. This is used for opening and closing period in the fiscal year for posting purpose.
You can assign these posting periods to one or more company codes.
Go to SPRO → SAP Reference IMG → Financial Accounting → Financial Accounting Global Setting → Document → Posting Periods → Define Variant for open Posting Periods → Execute.
It will open a new window. Now, click New Entries.
It will open another window, as shown below. Enter the 4-digit Posting Period Variant and name of the field. Click the Save icon to save this variant.
Go to SPRO → SAP Reference IMG → Financial Accounting → Financial Accounting Global Setting → Document → Posting Periods → Open and Close Posting Periods → Execute.
Click the button New Entries, as shown in the following screenshot.
Now, you need to provide the following details −
Once all the details are provided, click the Save button to save the open and closing posting periods.