Special Period posting

[Former Member]

Hello ,

Please clear my concept:

1. Can I open special period when my normal period is open? e.g. My fiscal year is Jan to Dec (1 to 12) , and current period is 2. So can I open period 13 also.

2. Special period are to be opened only when year closes? Cant we open in middle of year.

3. If normal period 1-12 is closed, then is posting possible in closed period , even if special period is opened?

4. As per my understanding, i can post only in last month via special period? Cant I post in earlier period ? e.g. In my example last period is Dec, so cant I post in Nov via special period?

Please guide,

As there are many confusions.

Regards,

[former_member189603 · Accepted solution]

Hello ,

First the basic purpose behind creation of "Special Periods" is to make adjustment posting during the year end processing.  Say your company typical fiscal year is Jan. to Dec., Now lets say, you are currently in Jan. 2014 and thus year 2013 is complete but the books for the same year (i.e. 2013) are not yest closed.  Since you are in Jan 2014, you would open up normal posting periods for 2014 and would close the normal posting periods for 2013, so that no can wrongly enter any document in that period (of 2013). But as the 31st Dec 2013 went by, it is not possible to make the financial statements on that very date as the accrual postings and other adjustment postings needed to be made. Also the auditor will bring in some errors in the records and accordingly adjustment postings will be required to be made. Thus at this point in time you would typically open periods for such Special purposes, called as Special Periods which may also have some User Authorizations, as everyone will be not allowed to make postings in them. Now when you will post a document, the system will ask you a Posting Date (as always the case) but at this point system will also ask you the posting period, which can be mentioned from what you have defined. (Say 13,14,15,16 if defined so). Also while mentioning the posting date here, the system will ensure that the date should fall in the last normal posting period as defined.

Does,

Normal Posting Periods - are defined as per time (i.e. Jan to Dec)

Special Posting Periods - are defined as per Purpose (accrual, adjustment, auditing etc)

"1. Can I open special period when my normal period is open? e.g. My fiscal year is Jan to Dec (1 to 12) , and current period is 2. So can I open period 13 also."  - No you cannot open special periods for the current year right now, as the postings from it will always happen in the last posting periods.)

"2. Special period are to be opened only when year closes? Cant we open in middle of year." - No. There very purpose is not fulfilled.

"3. If normal period 1-12 is closed, then is posting possible in closed period , even if special period is opened?" Yes as explained above.

"4. As per my understanding, i can post only in last month via special period? Cant I post in earlier period ? e.g. In my example last period is Dec, so cant I post in Nov via special period?" No the system will always take the date from the last posting period only as standard.

I hope it may be useful to you.

Feel free to Reply back if any issues.

Regards,

Saurabh Patni

[Former Member · Accepted solution]

Perfect Reply