# What Variations are Possible when defining a ‘Fiscal Year’?

• The Fiscal Year is the same as a Calendar Year
• The fiscal year starts on January 1 and there are 12 posting periods; the posting periods correspond to the calendar months; there is no need to define each of the posting periods.
• The Fiscal Year is NOT the same as a Calendar Year
• In this case, you need to specify how many posting periods you want and how the system should derive the posting period. Since the posting period does not correspond to the calendar month, the start and end date of each of the posting periods need to be maintained.