What is 'posting to a prior period' in SAP FI - Financial Accounting?

posting to a prior period - Overview

• Component: FI

• Component Name: Financial Accounting

• Description: A posting to a previous period

posting to a prior period - Details

• 
  Key Concepts: 
  Posting to a prior period is a process in SAP Financial Accounting (FI) that allows users to post documents to a period that has already been closed. This is done to correct errors or omissions in the original document, or to make changes to the document after the period has ended. The document must be posted with the same date as the original document, and the posting must be approved by an authorized user. 
  
  How to use it: 
  To post a document to a prior period, first open the document in SAP FI. Then, select the “Posting to Prior Period” option from the menu. Enter the date of the original document and select “OK”. The document will then be posted to the prior period. 
  
  Tips & Tricks: 
  When posting a document to a prior period, make sure that all of the information is correct and up-to-date. Also, make sure that you have approval from an authorized user before posting the document. 
  
  Related Information: 
  For more information on posting documents to prior periods in SAP FI, please refer to SAP Help documentation or contact your local SAP support team.