Set Posting Periods in SAP B1

As we move very close to the end of the calendar year, many fiscal years also end. For some companies, including where I work, that Fiscal Year will end January 31st. Either way, The new fiscal year will cause SAP Business one to start acting strange,?with this message:?

As Transactions begin to appear in the new fiscal year, SAP B1 does not automatically create posting periods for the new fiscal year. Instead, it is a manual process, and in this newsletter, I'll describe the process based on the Posting periods video in SAP Business One: Finance and Banking.?

In a secure system, your System Administrator, senior accounting staff, and your support partner have the authorization to use Posting periods because it is hazardous. Likewise, most initialization features should be since they are some of the most sensitive parts of your system.?

Go to Administration>System Initializations> Posting Periods.

This module sets up places to store by date all our financial transactions.

In our example, OEC Computers uses the common monthly scheme,?which you can tell by the dashed number. 2021-12 for example is december 2021. Click the New Period Button.

You'll see towards the bottom the dates fields.

Besides posting periods, you can set the due dates and document dates from the posting dates. At top, you specify the Period Name and Period Code. For clarity, I add the new year for period code and the period name. Sub periods indicate the divisions between periods. In the sub-periods drop-down, I'll select monthly although there are other options such as quarterly. Click Add.?SAP B1 will add the missing periods to the system.?

If you are going to be responsible for your system settings on your system, here's a suggestion. Set on your calendar two months before your fiscal year ends to add next year's posting periods. There's nothing like panicked customer service people getting this message to ruin your day. I've had it happen too many times to count.?

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