What is posting calendar in SAP FS-AM - Account Management?

SAP Term: posting calendar

• Component: FS-AM

• Component Name: Account Management

• Description: A calendar that distinguishes between valid and invalid posting days for all days of a fiscal year for accounting purposes. Working days such as weekdays are valid posting days, non-working days are not valid posting days. All processes of the system that generate postings use the posting calendar to check given posting dates for validity. The system rejects an invalid posting date. Exactly one posting calendar must be assigned to every bank posting area. The posting calendar is identical to the factory calendar.

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• Key Concepts: 
  A posting calendar is a tool used in the FS-AM Account Management component of SAP. It is used to define the posting periods for a company’s financial transactions. The posting calendar is used to determine when transactions are posted to the general ledger and when they are posted to the subledger. 
  
  How to use it: 
  The posting calendar is used to define the start and end dates of each posting period. This allows users to control when transactions are posted to the general ledger and when they are posted to the subledger. The posting calendar can also be used to define special periods, such as fiscal years or quarters, which can be used for reporting purposes. 
  
  Tips & Tricks: 
  When setting up a posting calendar, it is important to ensure that all transactions are posted in the correct period. This will help ensure that financial statements are accurate and up-to-date. It is also important to ensure that all transactions are posted in the correct currency, as this will affect how they are reported in financial statements. 
  
  Related Information: 
  For more information on setting up a posting calendar in SAP, please refer to the SAP Help documentation. Additionally, there are many online resources available that provide step-by-step instructions on how to set up a posting calendar in SAP.