Function documentationClosing Operations

 

Closing operations comprise processes and functions that you perform at the end of the fiscal year.

Integration

You can process data both from other SAP application components as well as from external systems.

Features

Check / Count

The program Reconciliation of Receivables/Payables in Group (Cross-System) helps you to reconcile customer documents and vendor documents of the affiliated companies in the group. It reads the open items of selected companies for the key date specified, thereby helping you to identify documents that cause a difference.

Valuate

To create your financial statements, you have to perform a foreign currency valuation. Foreign currency valuation covers the following accounts and items:

  • Foreign currency balance sheet accounts, that is, the G/L accounts that you run in foreign currency.

The balances of the G/L accounts that are not managed on an open item basis are valuated in foreign currency.

  • Open items that were posted in foreign currency.

Open items that are open on the key date are valuated in foreign currency.

Note Note

For more information, see Currency Translation.

End of the note.

Regroup

  • Before creating the balance sheet, you can analyze the GR/IR clearing account and perform any necessary correction postings.

  • Before creating the balance sheet, you can perform a rollup. You use a rollup to specify how data from one or several source ledgers is "rolled up" (or summarized) into a rollup ledger. Since some ledgers may contain either information that is too detailed for the creation of cumulative reports or dimensions that are irrelevant for the report in question, you can first summarize the information in a rollup ledger.

  • Before you can create your financial statements, you have to order your receivables and payables according to their remaining term so that they can be displayed correctly. You need to enter adjustment postings to do this.

Allocation

Before creating your balance sheet, you can use allocation to allocate amounts and quantities periodically from sender objects to receiver objects.

Carry Forward

Balance carryforward involves carrying forward account balances into the new fiscal year.

Value Adjustment

If a particular receivable is doubtful or if it is unlikely you will ever recover it, you can post an individual value adjustment or write the receivable off before creating your balance sheet.