Opening New Fiscal Years

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Use

The new fiscal year is automatically opened when you make your first posting in the new fiscal year
or once the balance carried forward program has been run. You do not have to close the old fiscal
year before you can post data in the new one. You therefore do not need to create closing or
opening financial statements.

Prerequisites

The prerequisites for posting to a new fiscal year are as follows:

 If you are using a fiscal year variant which is year-specific, you first have to create a variant for this
fiscal year and assign it to the relevant company code. See Fiscal Year and Calendar Year

 If you have also defined year-dependent document number assignment , you must have already
set up the document number ranges for the new fiscal year. For more information, see Document
Number Assignment

 The relevant posting periods must be open in the new fiscal year. See Opening and Closing
Posting Periods

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