What is fiscal year variant in SAP FI - Financial Accounting?

SAP Term: fiscal year variant

• Component: FI

• Component Name: Financial Accounting

• Description: A variant 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 SAP System is to determine the assigned posting periods. If the Consolidation system and companies to be consolidated use different fiscal year variants, the periods must be converted when individual financial data is transferred to the Consolidation system.

Smart SAP Assistant

• Key Concepts: 
  A fiscal year variant is a set of rules used to define the fiscal year in SAP Financial Accounting (FI). It is used to determine the start and end dates of a fiscal year, as well as the number of periods in the year. The fiscal year variant also defines the length of each period, such as monthly or quarterly. 
  
  How to use it: 
  The fiscal year variant is used to define the accounting periods for a company. It is used to determine when a period begins and ends, and how many periods are in a year. The fiscal year variant is also used to define the length of each period, such as monthly or quarterly. 
  
  Tips & Tricks: 
  When creating a fiscal year variant, it is important to ensure that all periods are correctly defined. This includes setting the start and end dates for each period, as well as the number of periods in the year. It is also important to ensure that all periods are of equal length. 
  
  Related Information: 
  The fiscal year variant is closely related to other SAP FI components, such as posting periods and document types. It is important to ensure that all components are correctly configured in order for SAP FI to function properly.