Last Year's Service Contract

Hi,
Am using SAP 2007B PL 08. My client has service contracts which were created in previous financial years and are still active. How to create the same in SAP? Can I create Service Contracts in Previous financial year? If Yes, how? Will the Service Contract ID start from 1 every financial year or will it continue from the last number used?
Rgds
Kalli

Hi Suda,
I created posting period of year 07-08. I then selected the relevant month say April, set the period status as "Unlocked". Created the service contract. Does this procedure have any relevance. I can easily create a Service Contract with start date of year 2004 and end date of any year without the necessity of creating a new posting period but the Service Contract ID will be the latest one.
My question, is it necessary to create financial period and then create Service contracts or can we directly create back dated Service Contracts with the necessary start date and end date in the current financial year.
Kalli

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<Personal Information Edited by Host>

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FB60 Line items.
31   Vendor Account       10000
40 Prior per dep                   500
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With best wishes
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Edited by: MONOJ SARKER on Aug 5, 2009 12:11 PM

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Last Year's Service Contract

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