Accounting periods (SAP Business One)

The accounting periods in SAP Business One allow the user to create and manage multiple accounting periods. Transactions are permitted in all open periods. The accounting periods can be closed at the end of a period or a calendar year using the Period-end closing which generates the corresponding postings in the accounting system. Different types of periods can be specified: A period can consist of an entire year, a single or several quarters, months or days.

Setting up accounting periods:

We recommend setting this up at the start of financial accounting.
Periods can be defined annually, quarterly, monthly or daily.
The first period is defined when the company database is created.
Setup via: Management → System initialisation → Posting periods.
Information required: period code, period name, posting date, due date, document date, start of financial year.
Document series must be linked to periods so that numbering starts correctly.

Status of accounting periods:

Released: All transactions possible.
Released except for sale: Only other document types allowed - usually at the end of the month.
Closing period: Only authorised users may book - for annual or monthly closing.
Locked: No more bookings allowed - to secure the period after closing.

Period-end closing and change of financial year:

No automatic month-end closing - manual journal entries necessary.
P&L accounts are set to zero at the end of the period.
New periods must be created before the turn of the year.
The "Blocked" status prevents subsequent bookings.

Technical information and rules:

The first day of a month is mandatory as the start date of the financial year.
Periods should be created chronologically from old to new.
Rules for extended G/L account determination must match the period.
Maturity dates may extend beyond the end of the financial year.

Additional information:

Copy existing extended period options G/L account determination rules automatically into new years.
Public holiday calendar has an impact on due dates and MRP-calculations.
Period-related account activation can be documented (comments field).

Versino Financial Suite

the Versino Financial Suite makes administration and accrual-based posting in SAP Business One more efficient, secure and transparent. It automates periodic accruals and deferrals, simplifies the control and reporting of accounting periods and offers additional convenient functions

Summary:

Accounting periods in SAP Business One are essential for structured financial accounting. They enable precise control of postings, the annual financial statements and compliance with legal requirements. The correct setup, maintenance and status management ensures the consistency of financial data and supports transparent business processes.