Fiscal Period and MM period.
Can somebody explain the difference b/w Fiscal Period and MM Period in business context. Detail explanation will be helpful.
thanks & regards,
A fiscal year is nothing but a financial year ie it can be 12 periods from April to March or it can be January to Dec depending on how you configure in OB29.
Now we will assign a fiscal year variant to your company code in OB37.
After the assignment only the system identifies your fiscal year periods.
In most of the cases we have 12 regular periods(months) and 4 special periods for FI people for period ending activities. We define and assign variant for a company code in OBBO and OBBP.
Then we have to open the periods (16) for specific financial transactions in OB52.
Hope this helps