SAP FI Module Tutorial

This documentation covers the introduction about shortened Fiscal Year in SAP FICO module.

Shortened Fiscal Year Definition

Fiscal year that contains less than twelve months.

A shortened fiscal year could be necessary in the following cases, for example:

  • Establishment of a company
  • Changeover from a calendar year to a non-calendar
    fiscal year, or vice versa.

Shortened Fiscal Year Use

When you define a shortened fiscal year, you have to make the following specifications:

  • A shortened fiscal year must always be defined as year-dependent, since it can only apply to a specific year and must be followed by a complete fiscal year.
  • You define a shortened fiscal year and the following or previous complete fiscal year in one fiscal year variant.

You define a shortened fiscal year in Customizing for Financial Accounting as follows: Financial Accounting Global Settings ® Fiscal Year ® Maintain Fiscal Year Variant (Maintain Shortened Fiscal Year)

Shortened Fiscal Year Integration

The options available for defining a shortened fiscal year depend on whether you are using Financial Accounting with or without Asset Accounting.

  • If you are using Financial Accounting without Asset Accounting, each fiscal year can start with any period.
  • If you use Financial Accounting with Asset Accounting, each fiscal year must start with period 001, so that the depreciation can be calculated correctly.