Setup FI Fiscal Year Period

The client wants fiscal year to be set from May 1 – April 30 but they use a 4,4,5 accounting period setup meaning that every month end on the last Friday of the month. I am setting for 2006-2007.  As you know, the FYV should be year dependent, so how can the periods be set up.

In IMG go to financial accounting global setting then go to fiscal year variant and set the fiscal year variant on year dependent year and follow the following procedure:

1.  enter name of month started from may and end on april

2.  enter the number of days in a month you want to close for example in may number of days is 28 instead of 31 

3.  enter period from 01 to 12 started from may to april

4.  enter -1 against the month from jan to april

For Example :

  Month       Number of Days       Period        Year Shift

  May06         28                          01                 0

  June            35                          02                 0

  July             28                          03                 0

  Aug             28                          04                 0

  Sep             35                          05                 0

  Oct             28                          06                 0

  Nov             28                          07                 0

  Dec             35                          08                 0

  Jan07          28                          09                -1

  Feb             28                          10                -1

  Mar             35                          11                -1

  Apr             31                          12                -1