Handling Errors during Year-End Closing 

Use

The errors that can occur during the year-end closing are listed below, along with methods for correcting them.

Errors Due to Depreciation Calculation

When there are errors in depreciation, choose the function Recalculate values in the master data of the asset (under Edit - refer to Recalculating Values). Either you now receive an error message with additional long text explanations, or the error is corrected by the recalculation. When the error has been corrected, it is possible that planned depreciation values could have changed. Therefore, carry out another depreciation posting run (repeat run or posting to special periods - refer to Periodic Posting of Depreciation).

Planned Depreciation was not Posted Completely to the General Ledger

If depreciation was not completely posted, carry out a depreciation posting run (repeat run or posting to special periods).

Balance Sheet Values were not Posted Completely to the General Ledger

In this case, carry out periodic posting of balance sheet values (refer to Posting Asset Transactions from a Depreciation Area on a Periodic Basis).

The Capitalization Date was not Set

If the capitalization date was not set, check if all asset classes for assets under construction have been entered correctly in the initial screen of the year-end closing transaction. It is normal that assets under construction are not capitalized. When you enter the asset classes for assets under construction in the initial screen, these assets are exempted from the check to see if assets are capitalized.

If the assets with this error are not assets under construction, set the capitalization date manually in their master records. Then carry out a depreciation posting run.

Errors in Updating the Base Insurable Value

The problem here is usually missing index figures for the fiscal year that is being closed. Maintain the missing index figures (see Defining Index Series). Go to master data maintenance for the asset. Go to the screen for the insurance data and choose the fiscal year change function. If you receive an error message, see the long text for more information.

Index Series do Not Exist

In order for the indexed base insurable value to be updated, the index series have to be maintained for the fiscal year that is being closed. If the index figures are not available at the time of the year-end closing, then use estimated index figures. When the correct index figures are available, reverse the year-end closing and maintain the index series. Then carry out the year-end closing again.

Incomplete Assets

Any incomplete asset master records that are identified during the year-end closing have to be completed. There is a special report for selecting the incomplete assets and analyzing the reason for incompleteness. This report is found under Tools. For more information, see Processing Incomplete Assets