Variant principle: The next step in customization is Define Variant Principle. Under variant principle there are 3 variants. They are 1.fiscal year variant 2.posting period variant3.feild status variant. The first customization is fiscal year variant. The variants defined under variant principle are at client level.
FISCAL YEAR VARIANT
The fiscal year means a general year in common. No company can maintain the books for indefinite period. They have to close the books for certain period. That depends on the company and the country's policy. Suppose in India all the companies have to close their books on 31st march every year. But other countries may follow the different approach.
The fiscal year is classified as
- 1. Calendar year
- 2. Non calendar year.
As far as customization is concerned definition of calendar is so simple. We have to select one check box. For non calendar year definition we have to define the open and close the fiscal year and also the end days of the periods.
