Follow these steps to create a new posting period in SAP Business One.
- Go to Administration Module > System Initialization > Posting Period
- Click on New Period
- Enter Period Code which is the new fiscal year (Example: 2018)
- Enter the Period Name which is the new fiscal year (Example: 2018)
- Select "Months" in Sub-Periods
- When "Months" is selected, automatically "12" will be indicated in the No. of Periods.
- Select the Period Indicator if applicable. Note: Period Indicator must be correctly defined for it is a link to Document Numbering.
- By default, the period Status is "Unlocked", you can only change the status once you have added the posting period.
- Click Add
Note: Automatically the system will create 12 Posting Periods once added.