7 Define Posting Period Variant

Here you can define variants for open posting periods, in this standard setting, a separate variant for posting periods is defined for every company code. the name of this variant is identical to the company code name. Every company code is allocated to this variant with the same name.
Thus in our example we will have posting period variant which is identical to the company code SRI.

Path: IMG-Financial Accounting-Financial Accounting Global settings-Document-Posting Periods-Define Variants for open Posting Periods(OBBO)

Click New Entries and Update the following .

Click Save to save

Define Variants for open posting periods

Here you specify for each variant which posting period are open for posting in SAP. Two intervals are available for doing this (period 1 and period 2) For every interval, enter a lower period limit, an upper period limit and the fiscal yer.
You close periods by selecting the period specifications so that the periods to be closed are no longer contained
You can copy the settings from existing company codes delivered by SAP as Follows

Path: IMG-Financial Accounting-Financial Accounting Global settings-Document-Posting Periods-Open and Close Posting Periods(OB52)

Click the copy button

Update the following fields

Click save to save

Thus posting periods time intervals for various account types are created for variant SRI In SAP

Various account types in SAP

+=Valid for all account types
A=Assets
D=Customers
K=Vendors
M=Materials
S= GL accounts
V=Contract accounts

Assign posting period variant to Company Code
the posting period variant SRI needs to assign to company code SRI.

Path: IMG-Financial Accounting-Financial Accounting Global settings-Document-Posting Periods-Assign variant to Company Code(OBBP)

Click save to save

Thus posting period variant SRI is assigned to company code SRI in SAP