Additional Process Information 

Open items are required for most of these transactions. In order to ensure that there are open items available in the system, you should enter some simple invoices in Accounts Receivable and Accounts Payable, as well as incoming and outgoing payment transactions before starting the closing program.

To carry out this process, you have to enter the following documents:

· Vendor invoice, so that you can post accruals and prepaid expenses.

· Bank transaction in a foreign currency to a foreign exchange account for the foreign currency valuation of balances. You also maintain the exchange rates so that exchange rate differences are determined during valuation.

· Purchase orders and goods delivery in MM in order to enter adjustment postings as part of the analysis of the GR/IR clearing accounts.

If other open items already exist in the system, they will also be evaluated and possibly transferred if they meet the selection criteria.

A/P, A/R, and G/L account postings can be entered in a single-screen transaction as part of the Enjoy initiative. The most important entries are made on an initial tab; fields that are used less frequently and detailed information are contained on additional tabs.

When you are posting a vendor invoice, the system automatically defaults tax code AN (16%) for company code 1000 and tax code S1 for company code 3000.

We have also created a screen variant (transaction variant) with a business area or cost center to be used as a work template. Relevant columns are the G/L account, posting key, amount, document currency, and cost center or business area.