Consolidating vendor numbers in sap

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Now, for the GL(S) accounts, you will need to specify the period which needs to be opened.

Two: if the posting is going to affect the Profit & Loss accounts, then the system adjusts the carried forward profit or loss balances to the Retained Earnings account(s).

At the end of the period (month), this posting period is closed and the new one is opened for postings. It is, however, possible to keep all the periods or select periods open.

A ‘Posting Period Variant’ is useful in ‘opening/closing’ posting periods across many Company Codes at one time.

The ‘FI (Financial Accounting)’ module of SAP is the back-bone, which records, collects, and processes financial transactions or information on a real-time basis to provide the necessary inputs for external (statutory) reporting.

The module is integrated with other modules (such as Material Management (MM), Sales & Distribution (SD), Human Resources (HR), Production Planning (PP), Controlling (CO), etc.).

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