The first posting period must be defined at the time the company database is created. Afterwards, to set up new posting periods, go to: Administration > System Initialization > Posting Periods. From here you can update the generated periods (such as date ranges) and create new ones. You can also set or change the start of the fiscal year.

While SAP Business One is very flexible when it comes to setting periods and fiscal years, you and your implementation partner should bear in mind the following important caveats:

  • The beginning of the fiscal year can only be the first of the month
  • It is recommended to create the posting periods from the oldest and up. Consider the oldest data you would like to migrate to determine the first period
  • You cannot have overlapping posting periods
  • G/L account determination is saved by period and is copied from the previous period to the next. So make sure you define your primary G/L accounts before you create additional posting periods
  • The system determines which posting period the transaction belongs to based on the transaction’s posting date
  • Once you have created a posting period you cannot remove it from the system; however you can change the posting date range

Posting periods have one of four period statuses

  • Unlocked. This is the default status for new period creation. This status allows all users to post any type of transaction.
  • Unlocked Except Sales. This status allows authorized users to post all types of transactions except for sales documents. This period status is often used at month- end time.
  • Closing period. This status allows authorized users to post all types of transactions. Users that are not authorized for this period status cannot post any activity to this period status. In the posting period setup screen, you can determine the number of days, after the period has expired, to automatically change the period status to this status. This is commonly used at month-end or year-end time.
  • Locked. This status prevents all users from posting any activity to this period status. The period status can be changed back and forth any time

 

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