special period

[ganeshdnov]

I would like to understand the concept and workings of special period posting in SAP. When i googled found different answers on this topic.

1) Special posting periods are used to book the adjustment entries which could not be posted on the normal periods 01-12. Since it required validation and review additional 4 months taken to review to post the adjustments entries, so special periods are created 13, 14, 15 & 16 (4 months - Max)

2) Special periods like 13, 14, 15 & 16 are used for different purpose. Each period is used by different departments like 13 - Tax, 14 - Audit, 15 - Finance (Accounting) and etc., To keep a track on the entries posted by each departments

3) Special periods like 13 - is used to post the adjustments for the 1st quarter, 14 is used for 2nd quarter ...... and etc.,

4) My question to fit the above three scenarios when a company is in position to declare financial reports immediately after its Fiscal/Calendar year. Would they allowed to wait 4 months to make the adjustments (By using the special periods).

Request the best answer to make it clear

[ganeshdnov]

Hi Sundar,

Thank you for your answer. However it is not complete.

I already mentioned that special periods are used to post adjustments. However what would be the situation to select special period as 14, 15 & 16. When we can post all adjustments in period 13.

Could you read my question again and help me to answer. Thank you