As a year comes to an end, there are specific functions that need to be performed within SAP Business One. Below are step by step instructions on how to set up a new posting period for your company. Posting periods are set up one fiscal year at a time. In order to create a new one, in this case for Fiscal Year 2015, perform the following steps. A super user should perform this task.
Navigate to Administration – System Initialization – Posting Periods
Click on “New Period” on the bottom right of the window
A new window will open. You will need to populate the following fields: Period Code, Period Name, and Sub Periods. The system will populate the other fields with default information. The “Start of Fiscal Year will default to the next period based on what is in the system
In Period Code and Period Name, type a name of your choosing or the number Fiscal Year
In Sub-Periods, choose from the drop-down menu “Months” if you want to set up a period for each individual month of the fiscal year
Click Add and your new posting periods will be created. Notice the period names are changed to note the month
To edit individual periods to make changes to due dates, etc click on the Yellow arrows next to Period Code. You can also change the period status to lock periods from posting
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