What is fiscal year variant in SAP EC-CS - Consolidation?

SAP Term: fiscal year variant

• Component: EC-CS

• Component Name: Consolidation

• Description: A means for defining the relationship between the calendar and fiscal year. The fiscal year variant specifies the number of periods and special periods in a fiscal year and how the system is to determine the assigned posting periods. If the system and consolidation units use different fiscal year variants, the periods must be converted when reported financial data is transferred to the system.

Smart SAP Assistant

• Key Concepts: 
  A fiscal year variant is a set of rules used to define the fiscal year in SAP. It is used to determine the start and end dates of a fiscal year, as well as the number of periods in the year. In the EC-CS Consolidation component, it is used to define the fiscal year for consolidation purposes. 
  
  How to use it: 
  The fiscal year variant is set up in the SAP system by an administrator. It can be used to define different fiscal years for different companies or business units. The fiscal year variant can also be used to define different periods within a fiscal year, such as quarters or months. 
  
  Tips & Tricks: 
  When setting up a fiscal year variant, it is important to ensure that all companies or business units are using the same variant. This will ensure that all data is consistent across the system. Additionally, it is important to ensure that the start and end dates of the fiscal year are correctly set up in order to ensure accurate reporting. 
  
  Related Information: 
  The fiscal year variant is closely related to other SAP components such as Financial Accounting (FI) and Controlling (CO). It is important to understand how these components interact with each other in order to ensure accurate reporting and data consistency across the system.