What is fiscal year in SAP SRD-FIN-GL - FIN-General Ledger?

SAP Term: fiscal year

• Component: SRD-FIN-GL

• Component Name: FIN-General Ledger

• Description: The financial year of an organization that may or may not coincide with the calendar year.

Smart SAP Assistant

• Key Concepts: 
  A fiscal year is a period of 12 consecutive months used for accounting and budgeting purposes. It is used to measure the performance of a company over a period of time. In SAP, the fiscal year is defined in the system settings and can be used to define the accounting period for transactions. 
  
  How to use it: 
  In SAP, the fiscal year is defined in the system settings and can be used to define the accounting period for transactions. The fiscal year can be set up in the Financial Accounting (FI) module under the General Ledger (GL) component. Once set up, it will be used to determine when transactions are posted and when financial statements are generated. 
  
  Tips & Tricks: 
  It is important to ensure that the fiscal year is set up correctly in SAP as it will affect how transactions are posted and financial statements are generated. It is also important to note that the fiscal year may not always match up with the calendar year, so it is important to check with your company’s accounting department to ensure that you are using the correct fiscal year. 
  
  Related Information: 
  For more information on setting up a fiscal year in SAP, please refer to SAP Help documentation on setting up a fiscal year in Financial Accounting (FI) module under the General Ledger (GL) component.