In this process you carry out year-end closing in Accounts Receivable and Accounts Payable.

You go through the following steps:

• Generation of account statements: To check posted documents within a period.
• Generation of balance confirmations: To check the number of receivables and payables.
• Individual value adjustments using the special general ledger technique.
• Valuation of open items in foreign currency including the posting of the gains or losses due to exchange rate fluctuations.
• Sorted lists of open items with regrouping of items for changed reconciliation account, vendors with a debit balance and customers with a credit balance according to remaining life.

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