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.
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