Start a New Year: Create New Posting Period

Happy New Year !!
It’s time to create a new posting period on your SAP system. But first, make sure that you already finished customizing your G/L Account Determination and had a period indicator for a next year (you can also check our previous tips about G/L Account Determination here).

1. Open menu Administration > System Initialization > Posting Periods.
   And click on button New Period

2. If you haven’t setup a period indicator yet, please setup a period indicator first before you create a new period. (Go to menu: Administration > Setup > Financials > Period Indicator)
   
3. Please fill all the field:
   
   1. Period Code: 2018
   2. Period Name: 2018
   3. Sub-Periods: Months
   4. of Periods: 12
   5. Period Indicator: 2018
   6. Period Status: by default, ‘Unlocked‘, you can change later, if you want.
   7. Date Parameter:
      Due Date To, we recommend to set up to 31-12-2019, since company allowed to future due date, we setup to the end of the next year from this period.Another example for creating a new period for 2019:
      Period Code: 2019
      Period Name: 2019
      Sub-Periods: Months
      No. of Periods: 12
      Period Indicator: 2019
      Period Status: Unlocked
      Date Parameter (To): 31-12-2020

4. And click Add button
5. And your new period will listed on that screen.
   

Also read:

• How to Allow Update Journal Entry with Locked Posting Periods
• Posting Period Enhancement at SAP Business One version 10.0
• Can I Remove SAP B1 Posting Period?
• Set Currency Exchange Rates for Specific Periods
• Automatic Closing Period