year-end-closing-activities-in-sap-fi-co.doc

Year End Closing Activities


Version No : 1.0 : 1.0

Summary Document

Date : 17.03.2009 : 17.03.2009 Consultant-KPIT

Ravikiran Ravikiran S. Kulkarni

Page 1 of 30

Year En !lo"ing


DOCUMENT E!EA"E NOTICE !u"tomer# Electro$numetic" Pvt. %t.

Document etail"# &ctivitie" 'nvolve in Year En Proceure (ame

)er"ion

De"cri$tion

*inance an !ontrolling

1.00

+,i" o ocument ee-$lain" "t "te$" to to e follo/e for clo"ing t,e *i"cal Year in *inance an !ontrolling.

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Year En !lo"ing


Ta#le O$ Contents

Activities In %inance 1. $enin $ening g t,e (e/ (e/ Po"ti Po"ting ng Perio Perio  2. !o$ying !o$ying (umer (umer Range" Range" for (e/ *i"cal *i"cal Year Year.. 3. )a )aluat luation ion f *orei *oreign gn !urren !urrency cy . &" &""et "et Yea Yearr !lo" !lo"in ing g i. !a$ita !a$itali liati ation on f &""et" &""et" ner ner !on"tru !on"tructi ction on ii. ii. De$r De$rec ecia iati tion on Run Run iii. !lo"ing t,e &""et &""et Year Year an !,ange !,ange t,e (e/ Year Year.. 4. !arry !arry *or/ar *or/ar Receiva Receivale" le" an Paya Payale" le" alance" 5. !arry !arry for/ for/ar ar t,e t,e 6% alan alance" ce" 7. Re$or e$ort" t"

Activities In Controlling 1. &""e""ment Run 2. ver ea Run 3. 8'P . Settlement

)er"ion anagement +,i" ocument i" "u:ect to t,e ver"ion management. Eac, c,ange ,a" to e entere into follo/ing tale. Version 1.0

Client Electro$numetic"

Aut&or Ravikiran Kulkarni

Page 3 of 30

Date 17.03.2009

Year En !lo"ing


'( Maintain O)ening * Closing O$ Posting Periods +ran"action !oe # ;42

To be changed if you want to close 2009.

To be changed if you want to open 2010.

+o o$en a (e/ Year c,ange fi"cal year in column col. &fter <+o Perio=?. E.g. if you /ant to o$en fi"cal year 2010 t,en c,ange fi"cal year a" mentione aove. ere /e are not yet clo"ing fi"cal year 2009. 8,en you /ant to clo"e fi"cal year 2009 for $o"ting t,en make a" mentione elo/ @# !,ange year >a$$earing after col. *rom $er.1 A *rom $er.2? to 2010. +,i" /ill clo"e year 2009 for $o"ting.

Maintain t&e Periods !lo"e a $erio y "electing t,e $erio "$ecification" "o t,at t,e $erio to e clo"e oe" not fall /it,in t,em. +,e aut,oriation grou$" for $ermitte $o"ting $erio" coul e a""igne. +,i" mean" t,at in mont,@en or year@en clo"ing for e-am$leB you can o$en "ome $o"ting $erio" for "$ecific u"er" only

Page  of 30

Year En !lo"ing


I+)ortant Points +,ere mu"t e a minimum entry for eac, variant. +,i" entry mu"t ,ave , in column. +,i" activity i" once in t,e year an ",oul e one /it, e-treme care.




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Date 17.03.2009

Year En !lo"ing


( Maintain Nu+#er anges %or Ne. %iscal Year( +ran"action !oe @# ;2

S$ecify interval" of ocument numer range" are to e co$ie from one fi"cal year into anot,er fi"cal year. Enter follo/ing etail" @#

%ield

Descri)tion

!om$any !oe Source Year

@

+o

*i"cal

+arget @ +o *i"cal Year

!lick on

E/a+)le

!om$any !oe

1100

*i"cal year $ro+ /,ic, numer range" are to e co$ie >Previou" Year?

2009

*i"cal year to /,ic, numer range" are to e co$ie >(e-t Year?

2010

utton to e-ecute t,e tran"action




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Date 17.03.2009

Year En !lo"ing


0( Valuation O$ %oreign Currenc1 +ran"action !oe @# *&6%C*!C)&%

Enter follo/ing etail" @# %ield !om$any !oe

Descri)tion

E/a+)le

!om$any !oe

1100

)aluate )enor $en +ick )aluate )enor $en 'tem" 'tem"

+ick

)aluate !u"tomer +ick )aluate !u"tomer $en 'tem" $en 'tem"

+ick

Po"ting Date

Po"ting ate of revaluation tran"action

31.03.2009

Rever"al Po"ting Date

Po"ting

01.0.2009

ate

for

Page 7 of 30

rever"al

of

revaluation

Year En !lo"ing


tran"action

!lick on utton to e-ecute t,e tran"action *ollo/ing "creen /ill a$$ear @#

n aove "creen "ee t,at no error" e-i"t. 'f any error e-i"t t,en remove t,at an $roce"" a" mentione aove again. +o generate $o"ting" "elect a" mentione in follo/ing "creen @#

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Year En !lo"ing


Sy"tem /ill generate ocument". 'f you "elect tran"action ;0?. )er"ion anagement +,i" ocument i" "u:ect to t,e ver"ion management. Eac, c,ange ,a" to e entere into follo/ing tale. Page 9 of 30

Year En !lo"ing


Version 1.0



Page 10 of 30

Date 17.03.2009

Year En !lo"ing


3( Assets Closing( Ste$" 'nvolve in &""et" !lo"ing i.

Settle t,e &""et" ner !on"truction

ii.

E-ecute t,e e$reciation run an u$ate t,e atc, in$ut "e""ion

iii.

Run t,e fi"cal year c,ange in &""et &ccounting @ +,i" $roce"" create" t,e alance carry for/ar" for &""et &ccounting.

iv.

!arry out inventory $o"ting"

i.

Settlement of &""et" ner !on"truction

+ran"action !oe @# &';

*or more etail" $lea"e refer to u"er manual on &""et +ran"action".

Page 11 of 30

Year En !lo"ing


ii.

De$reciation Run +ill arc,

+ran"action !oe @# &*&;

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Year En !lo"ing


iii.

&""et Year En !lo"ing

+ran"action !oe @# &&;

;efore you can clo"e a fi"cal year in *inancial &ccounting from a ookkee$ing $er"$ectiveB you ,ave to carry out $re$aratory mea"ure" in &""et &ccounting.

POCE"" %!O4 You u"e t,e year@en clo"ing $rogram to clo"e t,e fi"cal year for a com$any coe from an accounting $er"$ective. nce t,e fi"cal year i" clo"eB you can no longer $o"t or c,ange value" /it,in &""et &ccounting >for e-am$leB y recalculating e$reciation?. +,e fi"cal year t,at i" clo"e i" al/ay" t,e year follo/ing t,e la"t clo"e fi"cal year. You cannot clo"e t,e current fi"cal year. E-am$le # !urrent fi"cal year >current ate?# 1 "t &$ril 2009 %a"t clo"e fi"cal year # 2007 F2009 G 2H You can clo"e fi"cal year # 200 F2009 G 1H

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Year En !lo"ing


5ACK6OUND POCE""IN6 You ,ave to carry out t,e year@en clo"ing a" ackgroun $roce""ing for $erformance rea"on". +,ereforeB "tart t,e re$ort a" a ackgroun :o. You can carry out te"t run" /it, fe/er t,an 1000 a""et" in t,e foregroun.

C7ECK" +,e "y"tem only clo"e" a fi"cal year in a com$any coe if +,e "y"tem foun no error" uring t,e calculation of e$reciation >"uc, a"B incorrectly efine e$reciation key"?. Planned de)reciation $ro+ t&e auto+atic )osting area &as #een co+)letel1 )osted to t&e general ledger( ;alance" from e$reciation area" t,at are $o"te $erioically >ie. (ot $o"te online? ,ave een com$letely $o"te to t,e general leger. &ll incom$lete a""et" >ma"ter recor"? ,ave een com$lete. •

•

•

•

+,e "y"tem li"t" any a""et" t,at o not meet t,e aove reIuirement" in t,e log of t,e year@en clo"ing. +,e log al"o ",o/" t,e rea"on for t,e error".

EVE"IN6 T7E YEA-END C!O"IN6 8OAA9 'f you clo"e a fi"cal year too "oonB an "till nee to make correction"B you can re"et t,e la"t clo"e fi"cal year in !u"tomiing for Asset Accounting. "ing t,i" functionB you can re@o$en t,e la"t clo"e fi"cal yearB eit,er for "electe e$reciation area" in a com$any coeB or for all e$reciation area" in a com$any coe. You o t,i" y c,anging t,e fiel for t,e la"t clo"e fi"cal year.

econcile t&e asset register #alances .it& t&e 6! accounts #alances ;A5"T<

8,en &""et value" in t,e a""et ma"ter oe"nJt matc, /it, t,e 6% account alance". +,e aove reconcile $rogram i" nee to e run. Page 1 of 30

Year En !lo"ing


Asset Year C&ange ;A=4<

Put t,e !om$any !oe an *i"cal Year. Run t,e "ame in +e"t Run an in ackgroun $roce""ing run take t,e actual run.




Page 14 of 30

Date 17.03.2009

Year En !lo"ing


>( Carr1 %or.ard Custo+er and Vendor #alances +,i" $rogram carrie" for/ar t,e alance" for &ccount" receivale an &ccount" $ayale. +,e alance" of t,e $reviou" year are carrie for/ar to t,e ne/ year. 'f t,e account ,a" neit,er een yet $o"te in t,e ne/ yearB nor t,e alance carrie for/ar $rogram ,a" een run for t,i" accountB t,enB account i" o$ene in t,e ne/ year /it, t,e 1"t alance carrie for/ar. t,er/i"eB t,e alance carrie for/ar of t,e account i" "tore in t,e ne/ year if t,e re"ult c,ange". 8,en $o"ting into a $reviou" yearB t,e "y"tem carrie" for/ar t,e alance automatically. +,i" i" ine$enent of /,et,er t,e $rogram ,a" alreay run or not. $o"ting to a $reviou" year mean" t,at t,e $o"ting ate of t,e ocument ,a" an earlier year t,an t,e entry ate. Procedure : +ran"action !oe @# *.07

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Year En !lo"ing


Enter follo/ing etail" @# %ield !om$any !oe !arryfor/ar to fi"cal year Select !u"tomer" Select )enor" +e"t Run Detail log

Descri)tion !om$any !oe !arryfor/ar to fi"cal year Selection for !u"tomer &Lc" Selection for )enor &Lc" +e"t Run *or cLf alance Detail"

E/a+)le 1100 2009 +ick +ick +ick +ick

!lick on to e-ecute. *ollo/ing "creen /ill a$$ear @#

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Year En !lo"ing


Remove te"t run an e-ecute to carryfor/ar alance. You can run t,i" tran"action a" many time" a" you /ant.




Page 1 of 30

Date 17.03.2009

Year En !lo"ing


?( Carr1 %or.ard 6! 5alances +,i" $rogram carrie" for/ar t,e alance" for 6L% account". ;alance" in #alance s&eet accounts are carrie for/ar to t,eir o.n accounts for t,e ne/ fi"cal year. +,e accumulate alance of P*! state+ent accounts i" carrie for/ar to a retained earnings account. 'f you ,ave not $o"te item" to an account in t,e ne/ year yet an it" alance ,a" not een carrie for/ar eit,erB t,e "y"tem /ill o$en t,e account in t,e ne/ year /it, t,e fir"t carry@for/ar. t,er/i"eB it /ill u$ate t,e accountM" carry@for/ar alance in t,e ne/ yearB if c,ange" ,ave een mae. 8,en you $o"t item" to a $rior yearB t,e "y"tem automatically carrie" for/ar t,e alance no matter /,et,er t,e $rogram /a" run or not. >Po"te to a $rior year mean" t,at t,e ocument $o"ting ate i" in a year $rior to t,e year of t,e entry ate.? +,i" automatic carry@for/arB ,o/everB oe" not occur cumulatively over "everal year". +,at i"B a $o"ting mae in anuary 1993 /it, t,e $o"ting ate Decemer 1991 c,ange" only t,e carry@for/ar alance for 1992B not t,e carry@ for/ar alance for 1993. T&e $ollo.ing $eatures a))l1 to auto+atic #alance carr1-$or.ard: "ing an inicator it "et" internallyB t,e "y"tem can etermine /,et,er or not t,e alance carry@for/ar $rogram ,a" een run for t,e fi"cal year. *or eac, $o"ting mae from t,at $oint onB t,e "y"tem /ill automatically carry for/ar t,e alanceB even if it i" a $o"ting to t,e $rior year. 'fB for e-am$leB t,e $rogram i" "tarte near t,e en of t,e current fi"cal yearB t,e alance for all furt,er $o"ting" i" carrie for/ar into t,e ne/ year. &utomatically correcting t,e carry@for/ar alance mean" t,at no ot,er "te$" nee to mae for $o"ting to t,e $rior year after *&6%6)+R i" run. +,i" eliminate" t,e nee to re"tart *&6%6)+R after eac, $o"ting.

You can run t,e $rogram a" often a" you reIuire. I$ t&e )rogra+ &as not #een run 1et@ 1ou can still )ost ite+s in t&e ne. 1ear . 8,en you $o"t item" in t,e ne/ yearB t,e accounts are o)enedB ut t,eir carr1$or.ard #alance is Bero. nce you make $o"ting" to t,e $rior year /it,in t,e ne/ yearB t,e carry@for/ar alance /ill e u$ate y t,o"e $o"ting". +,e total alance of t,e item" $o"te in t,e ol yearB ,o/everB remain" in t,at year. 'n t,i" ca"eB t,e

Page 19 of 30

Year En !lo"ing


carrie for/ar alance re$re"ent" only t,e item" $o"te /it,in t,e ne/ year to t,e $rior yearB not t,e item" $o"te uring t,e $rior year. (ote# 'f you $ind in t&e ne. 1ear t,at a 6L% account /a" mi"takenly "et u$ a" a PA% account in t,e $rior year in"tea of a" a alance ",eet account >or vice ver"a?B you ,ave to rerun $rogram S&P*011 after c,anging t,e 6L% account ma"ter recorB "o t,at t,e alance carrie for/ar i" correcte. T( Code -: %A6!6VT

Page 20 of 30

Year En !lo"ing


%og" after running t,e $rogram in te"t run alance ",eet account"




Page 21 of 30

Date 17.03.2009

Year En !lo"ing


( e)orts ain Re$ort" #          

6% &ccount ;alance" G SC&%RC7012277 +otal" A ;alance" G SC&%RC7012301 6% &ccount %ine 'tem" G SC&%RC701222 Document ournal G SC&%RC7029B SC&%RC701237. %i"t of !u"tomer %ine 'tem" @ SC&%RC7012197 !u"tomer Payment i"tory @ SC&%RC7012177 )enor ;alance" in %ocal !urrency @ SC&%RC701202 %i"t of )enor %ine 'tem" @ SC&%RC7012103 &""et i"tory S,eet @ SC&%RC7011990 ;alance S,eet A Profit A %o"" Statement G *.01.

+,e ore re$ort" are availale in 'nformation Sy"tem




Page 22 of 30

Date 17.03.2009

Year En !lo"ing


Year End Activities Carried in Controlling( 1. &""e""ment

Kinly refer t,e u"er manual for more information.

Page 23 of 30

Year En !lo"ing


2. ver,ea >!3 for !ollective ver,ea $roce""ing?

*or iniviual $roce""ing +. !oe !2 *or more etail" $lea"e refer to u"er manual

Page 2 of 30

Year En !lo"ing


3. 8'P

*or more etail" $lea"e refer to u"er manual

Page 24 of 30

Year En !lo"ing


. Settlement

*or more etail" $lea"e refer to u"er manual




Date 17.03.2009

SAP FI Month End and Year End Activities 1  !aintain Activity prices  "#2$ 2  %elease of &tandard Cost Esti'ate  C"(0) Page 25 of 30

Year En !lo"ing


*  !! period close and open  !!#+ (  ,- period open   #ar/ed docu'ents to be posted  ,+0 !-% $  %eposting of -nter ffice CC  "$1 3  an/ %econciliation 4  5pdate &ection Code where 'issing  61-)## 9  !aintain 7%-% clearing  ,.1* 10  #rovision for current 'onth  ,0 11  8epreciation entry  ,0 12  Echange rate  To be 5pdated 1*  %evaluation of foreign currency open ite's  ,.0 1(  %ecognition of -nventory at onded warehouse  ,0 1  !aintain &tatistical "ey ,igures  "*1):"#($ 1$  +ariance Calculation of #rocess rders  ""&1 13  &ettle'ent of variances  C44 14  Assess'ent cycles  Au:;< CC to !ain CC  "&5 19  Assess'ent cycles  ,unctional CC to &5 CC  "&5 20  Assess'ent cycles  &5 CC to C#A  "E5 21  #rofit Center %eposting  9"E0 22  alance &heet Ad=ust'ent calculation  ,.8 2*  Transfer #rofit Center to A% > A#  1"E" 2(  Transfer -nventory to #CA  1"E< 2  Assess'ent Cycle  8u''y #C to &5 #C  *"E 2$  Chec/ for ?8elivery 'ade not -nvoiced?  +,0* 23  !atch 7@ and #CA  "ET 24  !atch #CA and #A 29  Top 8own 8istribution in C#A  "E24

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Year En !lo"ing


*0  %eclassification of 7@ balances *1  alance Carry forward Year End nlyB  ,.1$ *2  #CA alance Carry forward Year End nlyB  2"E& **  Transfer to ,-  1"E4
1B TransactionsD AC44 Transfer the epense fro' the testing:rewor/ order to the corresponding cost center or -nternal orders 2B TransactionsD "#($ 5pload &", using as tracing factor when Cost allocation *B TransactionsD "&+ Allocations in Cost Center Accounting are perfor'ed to 'ove costs between cost ob=ects i.e. cost center orderB. This step is for Allocate the epense fro' shared cost center to other cost centers. (B TransactionsD "47 &ettle'ent the epense fro' &pecific Epense -nternal to the corresponding cost centers. B TransactionsD C(* %un verhead Calculation transaction to calculate < debiting production order:cost collector and crediting cost centers. -t is calculated applying a F on current !:%outing.

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$B TransactionsD ""& %un +ariances calculation procedure to have the difference between current !:routing and &-C !:routing. You need to perfor' this tas/ to have actual recovery Actual in &A# ter'inologyB and &-C recovery Target in &A# ter'inologyB values in #C reporting. Target costs are calculated by the syste' only after this step 'ultiplying the &-C values and the Gty declared. H +ariance calculation provides you with detailed cost infor'ation on production orders. +ariances can be calculated in si'ulation 'ode test 'odeB for a single production order o r collectively H +ariance calculation acco'plishes the followingD H &hows the a'ount of the variance between the standard costs and the actual costs. H 8eter'ines the difference between the actual costs debited to the production order and the credit fro' goods receipts total varianceB. H 8eter'ines production variances and planning v ariances for infor'ational purposes. H &hows the causes of the variances and assigns the variances to different variance categories depending on the cause. There will be corresponding 'essages for the result of the va riance calculationI they need be chec/ed in detail. -f there is error 'essage which is caused for &tandard #rice 'issing the standard price for the related &"5 'ust be 'aintained i''ediately. 3B TransactionsD C44 %un settle'ent variances to post in ,- the difference between recovery and actual 'aterial consu'ption hours and oh at current !:routingB. You need to perfor' this tas/ to have on production orders:cost collectors balance J 0 H &ettle'ent is based uponD H &enderD the production order H %eceiverD the 7@account H After settle'ent no costs are associated to the p roduction order any'ore. H &ettle'ent calculation H 8uring the production process production orders are debited with actual costs confir'ationsB. H Each ti'e goods are received into inventoryI the syste' valuates the receipt and credits the production order accordingly. H The actual costs posted to the production order can be 'ore or less than the value with which an order was credited when the goods receipt was posted 4B TransactionsD ""%C This step is a data preparation for reporting and you need to perfor' it before run #C reports.
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