Yes! It is that time of the year when you need to create your 2023 posting periods in SAP Business One to have transactions within the new fiscal year – This process is normally a part of preparing for the beginning of a new year at or near the end of the year.
In this blog we will walk you through the how to create 2023 posting periods in SAP Business One, review posting period status, period end closing and period end closing results.
Our SAP Business One consultants recommend the following before creating 2023 posting periods in your system.
- Rehearse this process in a test copy of your production data base first. Why? Once created and transactions are posted, a posting period cannot be removed. The date ranges can change, but it can’t be removed
- The beginning of the fiscal year can only be the first day of the month
- If you are doing this for the first time and need assistance, please send an email to our support team at email@example.com. We can be by your side during this process.
Review your posting periods to see if 2023 has been created.
Go to Administration > System Initialization > Posting Periods.
You should only have posting periods until 12/2022 as shown in this image.
You are now ready to create your 2023 posting periods in SAP Business One. Enjoy this video that we have created for our SAP Business One community.