In this course of MCG University, we will show you how to create and work with Posting Periods in SAP Business One. This session teaches you how to create a new Posting Period and explores the functions of permissible date ranges in regards to Posting Periods.
Open menu Administration > System Initialization > Posting Periods
Click on button New Period
The following list will display all existing posting Periods
Adding a New Period
Select New Period
Use the following Field Information before creating New Period
If you have not setup a period indicator yet, please set this up before creating a new period
Menu > Administration > Setup > Financials > Period Indicator
Period Code: 2021
Period Name: 2021
No. of Periods: 12
Period Indicator: Default
Period Status: By default, ‘Unlocked’ NOTE: you can change this later, if you want.
Due Date From: We recommend to set up to 12-31-2021. Since company allowed to future due date, we set up to the end of the next year from this period.
You New Period
Select the year code, Period Name, and confirm that all the populate data is correct for the Period
Your new Period will now be listed on the screen
Towards the end of the year, you may run into issues trying to post documents that have future due dates into the next year.
You need to revise your due date range as well as document date range for each posting period to ensure it aligns with your business.