Opening New Posting Period

Information on material stock and certain valuation data such as total stock value, total stock, evaluation elements class, price control indicator, and price unit is held by the financial posting period. The period must be set up at the beginning of each new posting period to ensure values and goods movement are posted to the correct period. Usually, only the current posting period is open for posting. All other posting periods are closed.

A back posting to a previous period is only possible if the corresponding flag is set in the control record. This flag is automatically set at initialization and after each period change. In certain cases, however, it may be necessary to set the indicator manually.

To create a new Open MM Posting Period, you need to close the old MM period using the Close Periods app which will then set the new period, making it possible to perform goods movements with reference to the new period.

Once the system is in productive operation, you normally run the period closing program once a month at the beginning of a new period. In case the posting period is still in the past after closing, you need to close period by period until you have reached the correct (current) one. This means, if for example the current period shown is the month of March and you want to open the period for the month of July, you cannot do this directly. You have to open the period for the month of April, then May, and continue until you have reached the current period. In case you have to close inventory periods in the past year, there might be a message during this process, that you are opening/closing a period in the past year. You can confirm this message.

Once the period has been closed, it is no longer possible to make postings to what was the previous period (that is, what is now the period before last).

When you select the Use Current Date check-box, the system closes the period based on the actual date. When you set the Use Current Date flag, ensure that the previous period has ended.

For example, consider that in your organization the fiscal period ends at the end of every month. In this case, if you want to close the period for the month of January, then the actual date must be in the month of February. You cannot close the period for the month of January if the actual date is in January itself.

You can use the Close Period for Product Master app to automatically trigger a background job for closing period. To do this, you can specify scheduling options for the job template, Schedule Job for Closing Periods, based on which the system triggers the background job.

You need the role PRODMASTER_SPECIALIST to use the apps to close and open the new period for the product master records.

The following screen shows an instance run of a close-period job. The result shows the conversion for Company Code 1010, where the system successfully opens the new period for the material master for Company Code 1010. You see the same success result or log if you manually close the period for the material master instead of using a job.