It is important for SAP Business One customers to create their 2021 Posting Periods in SAP, if not done so already. If your business fiscal year mirrors the calendar year, this process must begin now. Take a look at the step-by-step guide to completing the process.
Please read before beginning the posting period process:
- The beginning of the fiscal year can only be the first day of the month
- Once created and transactions are posted, a posting period cannot be removed. The date ranges can change, but it can’t be removed.
Steps to Setting Up the 2021 Posting Periods In SAP Business One
based on the calendar year
1. Review your posting periods to see if 2021 has been created. This can be found by going to administration -> system initialization -> posting periods
2. If you do not have any 2021 period codes, click on the 'New Period' button. The dates, start of the fiscal year, and fiscal year will all fill in automatically as shown below.
3. Enter the information that is shown below.
Note: In the 'due date to' field, you do not have to put 06/30/22. SAP will prefill that date with 12/31/21. If you leave the SAP prefilled date, you will not be able to have a document due date that goes into 2021 unless you go into each period that is created and individually change the due date on each posting period. This is just an easy way to extend the due dates for all the 2021 periods during creation. When it is all correct, click on Add.
4. Review your posting periods. You should now see 2021 in your list.