From the course: SAP Business One: Finance and Banking

Posting periods - SAP ERP Tutorial

From the course: SAP Business One: Finance and Banking

Start my 1-month free trial

Posting periods

“

- [Instructor] If you're using a new SBO demo instance you'll get a message like this when you open SAP Business One. You need to create current posting periods. New copies of SBO demo US still think it's 2016. To post transactions correctly you need to get up to the current year. If your company makes transactions in the future which usually is sales orders for fulfillment in the next fiscal year, you're probably going to run to the same message a month or two before the end of your fiscal year. So it's real important to do this to open your next fiscal year. For many of you posting periods will only be available to you here in OEC. Your live system will have it locked with the exception of your system administrator and senior accounting staff, because it is very dangerous. If it isn't locked under security, it should be since initialization features are some of the most sensitive parts of your system. We won't be able to post a new transaction without it so let's get this one set up. And so you're going to go over to administration after clicking off the message you'll go over to administration and it's gives you a little welcome message. So we'll go over here to administration again, we're going to go over here to system initialization and then posting periods. And you can see here's the posting periods and it goes all the way down the bottom here our last one on my system is 2017. And so you'll see that it's an pretty old one I've got to get a couple of new ones in here. You'll also notice by these period codes this is actually a monthly posting period. So we've got that set up and it actually tells you over here from two and the due dates from two okay so what I'm going to do next is I'm going to make a new posting period and so I hit the new period button over here and it asks me for a period code and I generally just use the date like we've got over there on these guys. So I got like 2016, 2017 so I got to do these year by year so I'll do 2018 to start and I'll use 2018 for this, and sub periods will be months again, there'll be 12 of default indicator. You'll notice it sets up pretty much everything else. If you need to change as you can if you're changing how you're doing posting dates or due dates, and then go ahead and there's your 2018 fiscal year and go ahead and hit add, and now we've got 2018. I'm going to do the same thing again for 2019 again I'll go to monthly and we've got that all set up so I can go ahead and hit add and one more so I'm up to 2020. And we'll make it again monthly and you'll notice everything is set up correctly now I'm now my 2020 fiscal year. I need to go ahead and hit that and now I've got 2019, 2018, 2017 so I got plenty of posting periods good. Now, if you're going to be responsible for your system settings on your system here's a suggestion set your calendar about two months before your fiscal year ends to set next year's posting periods. I'll tell you there is nothing as bad as a panicked customer service person getting this message to ruin your day, so being ready for it is a great idea. I've had that happen to me too many times to count. Alright with this set up, go ahead and hit OK and now it's time to start looking at the financials.

Contents