bsg-itpd-2700 04c user reference manual fi closing activities

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USER TRAINING MANUALS – MONTHEND CLOSING SUB-SECTION:

PROJECT BSG-2700: SAP ECC – URC SINGAPORE

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TABLE OF CONTENTS:

MONTH-END CLOSING ACTIVITIES PAGE

1. Open and Close Posting Periods 2 2. Check MM Posting Periods 2 3. List of GR/IR Balances 4 4. Check Open Purchase Orders 5 5. Exchange Rate Maintenance 7 6. Open Next CO Period 8 7. Process PO and Non-PO based items (same procedure as the day to day

transaction but this is just to catch up unprocessed vendor invoices) 9 8. Maintain GR/IR Clearing account 12 9. Check MMP Subsidiary and Investment in Transit 13 10. Post CM/DM from/to affiliates/subsidiaries 17 11. Reconcile GL and SL of Vendor 17 12. Check Customer Subsidiary 18 13. Settle AUC to asset 20 14. All asset transactions are posted 24 15. Execute Depreciation Run 27 16. Check depreciation log 29 17. Generate Depreciation posted 31 18. Check Asset Balances 32 19. Check List of Parked Documents 33 20. Enter Recurring Entries and run batch input session for recurring entries 35 21. Post Adjusting Entries 40 22. Manual Bank Reconciliation (separate manual) 23. Clear Open Item Managed G/L 41 24. Execute Foreign Currency Valuation 44 25. Display Document Journal 47 26. Financial Statement Report 49

YEAR-END CLOSING ACTIVITIES

27. Copy Financial Accounting number ranges to next fiscal year 53 28. Post audit adjustment to Period 13 53 29. Carry forward AR/AP Balances 56 30. Asset Year-end Closing Procedure 58 31. Carry forward GL Balances 61

NON DISCLOSURE STATEMENT

This document is a confidential property of JG Summit Group. The recipient of this document expressly agrees not to disclose

the information contained herein, to any person outside the group. No part of this document may be reproduced or copied,

in whole or in part, or use any of its content, without written permission from JG Summit Group.

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1 Open and Close Posting Period

1.1. Purpose

To allow postings on the current period while closing the previous period.

1.2. Menu Path

Transaction Code: OB52

Path: Accounting → Financial Accounting → General Ledger → Reporting → Tax Reports

→France →Sales Purchases Tax Returns → Close Posting Periods in Subsidiary Ledgers

1.3. Screen

Select the Posting Period Variant equivalent to the Company Code (e.g. 2700 for URC SG’s

company code). Enter the range of period open for posting.

2 MM Posting Period

2.1.1. Purpose

MMRV – A Manual transaction which allows you to view current period and change setting for posting to previous period.

MMPV – Is a transaction you can execute period closing up to the end of the current fiscal year. The period closing program updates the administration record, thus ensuring that the stock data of the material master are updated.

2.2. Menu Path

Transaction code: MMPV (View current period / Allow posting to previous period) MMRV (Close

Periods)

Path: Logistics → Material Management → Purchasing → Master Data → Subsequent Settlement →

Condition Arrangement → Environment → Material → Other → Close Period

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2.3. Screen

MMPV

Click Execute.

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MMRV

3 Period List of GR/IR Balances

3.1.1. Purpose

This report will provide Purchase Order’s difference between the Goods Receipt (GR) made

quantity/value with the Invoice Receipt (IR) quantity/value.

3.1.2. Menu Path

Transaction Code: MB5S

Path: Information Systems → General Report Selection → Materials Management → Inventory Management → Display List of GR/IR Balances

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3.1.3. Screen

Input Purchasing Org and click Execute.

Sample list of GR/IR Balances

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4 Check Open Purchase Orders

4.1.1. Purpose

This report shows the Purchase Order list by Vendor. From this transaction, you can be able to have a list of all pending POs before closing of books and check whether there are long outstanding POs not yet received or not yet invoiced.

4.1.2. Menu Path

Transaction Code: ME2L

Path: Logistics → Materials Management → Purchasing → Purchase Order → List Displays → By Vendor

4.1.3. Screen Select Scope of List: ALV

Click Execute. A sample list is shown on the screenshot below.

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5 Exchange rate maintenance

5.1. Purpose

Transactions in foreign currency is automatically converted to local currency upon posting

5.2. Menu Path (A)

Transaction Code: OB08

Path: Materials Management → Foreign Trade/Customs→ General Foreign Trade Processing →

Import/Export → Environment →Currencies

Click on then enter valid from date, ratio (e.g. 1:1); from currency; direct quotation rate; ratio

to currency. Then click save .

5.3. Menu Path (B)

Another way to maintain the exchange rate is the using the worklist to minimized the line items being

displayed.

Transaction Code: TCURMNT

Path: Accounting → Financial Accounting → General Ledger → Environment → Current Settings →

Enter Currency Exchange Rates using a Worklist → Edit → Enter Exchange Rates

5.4. Screen

Enter the Validity dates (Valid from)

Enter Exchange rates

Select Worklist to “Completed” to save.

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6 Open and Close CO Period

6.1. Purpose

To allow postings on the current period while closing the previous period in Controlling Module.

6.2. Menu Path

Transaction Code: OKP1



6.3. Screen

Enter the Controlling Area

Enter Fiscal Year

Then click Actual. Select the period to be opened/locked at the header.

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Then click Lock and Save. A message like below will appear.

7 Enter Vendor Invoice with Reference to Purchase Order

7.1. Purpose This report displays list of (parked) invoices. In the invoice overview, you may opt to post the held invoices. Posted invoices generate FI documents.

7.2. Menu Path

Transaction Code: MIR6

Path: Logistics → Materials Management → Logistics Invoice Verification → Further processing →

Invoice Overview

7.3. Screen

You may input the document number of parked invoice or in entry type, tick the ff: Background, Held/ Park. In Invoice Status, select all. Enter Company Code.

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Click Execute. If there is no parked invoices, the message like below will appear.

Sample list of parked invoices, if there’s any.

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Go to the document number, line item.

Click Change invoice - pencil icon .

Selected parked invoice will be displayed.

Review the invoice document. Select Post.

Document posted.

8 Maintain GR/IR Clearing Account

8.1. Purpose

We use the GR/IR clearing account during the posting of Goods Receipt (GR) and Invoice Receipt

(IR). There can be cases where there are quantity difference between the GR and IR due to which

some items remain open in the GR/IR account. If such differences are not cleared by a further GR

or credit memo, or by an invoice or return delivery, the GR/IR account is maintained manually.

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8.2. Menu Path

Transaction Code: MR11

Path: Logistics → Materials Management → Logistics Invoice Verification → GR/IR Account

maintenance → Maintain GR/IR Clearing Account

8.3. Screen

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Select PO to be posted then click Post.

Document posted.

Sample entry is below:

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9 Post CM/DM from/to subsidiaries or affiliates

3.1 Purpose

To record the intercompany charges and transactions.

3.2 Menu Path

Transaction Code: FB65

Path: Accounting → Financial Accounting → Accounts Payable → Document Entry → Credit

Memo

3.3 Screen

Enter Vendor code:

Enter Document date:

Enter Amount

Enter Text

Enter the other G/L accounts

Then click Post or Park as necessary.

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10 Reconcile G/L and Subledger of Vendor

4.1 Purpose

Subsidiary ledger should always tally with the general ledger.

4.2 Menu Path

Transaction Code: FAGLF03

Path: Accounting → Financial Accounting → General Ledger → Periodic Processing →

Closing → Check/Count → Reconciliation

4.3 Screen

Enter Fiscal Year

Enter Company code:

Enter Posting period

Click execute.

Sample result if no differences occurred.

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11 Check Customer Subsidiary

5.1 Purpose

In order to check and review the outstanding balances of each customer.

5.2 Menu Path

Transaction Code: FBL5N

Path: Accounting → Financial Accounting → Accounts Receivable → Account →

Display/Change Line Items

5.3 Screen

Enter company code

Enter date

Click . Enter G/L account of Accounts Receivable. Then click Execute.

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Sample subsidiary is shown below:

12 Settle AUC/CIP to Asset

6.1 Purpose

Settlement process means capitalization of the asset under construction. This process will

effectively subject the asset to depreciation.

6.2 Menu Path

Transaction Code: AIAB

Path: Accounting → Financial Accounting → Fixed Asset → Posting → Capitalize AUC →

Distribute

6.3 Screen

Prerequisite:

- Ensure that AUC has been processed (with balances)

- Settlement receiver or real asset must be created already

Enter Company Code

Enter AUC Asset

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Click Execute and then select the item to be settled.

Click icon to update the distribution rule.

Fill-up the following: - Category – FXA

- Settlement Receiver – Real or actual asset

- Percentage

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Click Back icon and then click Save.

To proceed with Settlement, click Settlement .

To review before posting, click the Simulate button.

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If items are ok, click Execute to Post.

Actual postings will appear in the screen to inform the user that asset has been posted/settled.

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To view/display the asset, go to transaction AS03.

To view/display the values, go to transaction AW01N or click the button from AS03.

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13 Post All Asset transaction for the Month (Retirement/Transfer/Disposal)

7.1 Purpose

To post the other transactions related to asset other than acquisition through PO and settlement

of AUC.

7.2 Menu Path (RETIREMENT)

Transaction Code: ABAVN

Path: Accounting → Financial Accounting → Fixed Asset → Posting →Retirement → Asset

Retirement by Scrapping

7.3 Screen

Enter Asset number to be retired

Enter Document Date

Enter Posting Date

Enter Asset Value Date

Enter Text

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*Optional: Click on Partial Retirement tab if you do not plan to retire the whole asset. You may

partially retire by amount, percentage or quantity. Please also indicate if asset is from Prior-year

or Current-year acquisition

To review before posting, click the Simulate button.

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If items are ok, click Save to Post.

A message will appear in the bottom of the screen to inform the user that asset has been posted/retired.

To check the document, go to FB03 or AW01N for the asset values.

7.4 Menu Path (TRANSFER)

Transaction Code: ABUMN

Path: Accounting → Financial Accounting → Fixed Asset → Posting →Transfer → Transfer

within Company Code

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7.5 Screen

Enter Asset number to be retired

Enter Document Date

Enter Posting Date

Enter Asset Value Date

Enter Text

Click Simulate then click Post.

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14 Execute Depreciation Run

8.1 Purpose

To post depreciation planned for each asset and charge it to the cost centers.

8.2 Menu Path

Transaction Code: AFAB

Path: Accounting → Financial Accounting → Fixed Assets → Periodic Processing →

Depreciation Run

8.3 Screen

Enter the following: Company code Fiscal Year Posting Period

Select Planned Posting Run

Tick Test Run and click Execute to check if there will be errors

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If there are no errors, go back to main screen and untick Test Run.

Click Program Execute in Background.

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Select output device (e.g LOCL), then click OK.

Click Immediate then click Check.

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To check if background job has been processed correctly, go to transaction SM37.

Enter job name (RAPOST2000) or user name then click Execute.

9 Check Depreciation Run Log

9.1 Purpose

To check whether a depreciation run is executed for the period.

9.2 Menu Path

Transaction Code: AFBP

Path: Accounting → Financial Accounting → Fixed Assets → Periodic Processing → Depreciation

Run → Display

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9.3 Screen

Enter Company Code:

Enter Fiscal Year:

Enter Posting Period:

Select List assets if desired. If not, the list will show per GL account. Then click Execute.

If a depreciation run is already executed and posted, the log below will appear.

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But if the depreciation run is not yet executed, the error below will appear and the depreciation run

needs to be executed first before closing the period.

10 Generate Depreciation Posted

10.1 Purpose

To display details of posted deprecation by asset and posting period

10.2 Menu Path

Tcode: S_P99_41000192

Path: Accounting → Financial Accounting → Fixed Assets → Information Systems → Reports on

AA → Cost Accounting → Depreciation posted → Posted Depreciation by Asset

10.3 Screen

Enter company code

Enter fiscal Year

Enter Posting Period

Click Execute

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11 Check Asset Balances

11.1 Purpose

To check that the asset subsidiary is equal to the Trial Balance.

11.2 Menu Path

Transaction Code: S_ALR_87011964

Path: Accounting → Financial Accounting → Fixed Assets → Information System → Reports on

Asset Accounting → Asset Balances →Balance List → Asset Balances → By Asset Class

11.3 Screen

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18 Check List of Parked Documents

12.1 Purpose

Review the necessity to post or accrue parked documents.

12.2 Menu Path (LIST OF PARKED DOCUMENTS)

Transaction Code: FBV3

Path: Accounting → Financial Accounting → General Ledger → Document → Parked

Documents → Post/Delete

12.3 Screen

Click

Enter company code

Enter fiscal year

Enter date

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19 Enter Recurring Entries and Running a Batch Input Session

13.1 Purpose

To create and run the monthly recurring entries without entering the data.

13.2 Menu Path

Transaction Code: FBD1

Path: Accounting → Financial Accounting → General Ledger → Document Entry →

Reference Documents → Recurring

13.3 Screen

Enter Company Code:

Enter First run on date:

Enter last run on:

Enter posting interval:

Enter run date:

Tick Transfer amounts in local currency

Select Document Type: SA (GL Account Document)

Enter Currency:

Enter Posting Key for the line items and GL account

Hit Enter.

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Enter amount:

Enter Tax Code:

Enter Cost Center

Enter Text:

Enter Posting Key and GL account for the next line item.

Hit Enter and enter amount then repeat until the last line item.

Then Click save .

13.4 Menu Path

Transaction Code: F.14

Path: Accounting → Financial Accounting → General Ledger → Periodic Processing → Recurring

Entries → Execute

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13.5 Screen

Enter Company code:

Enter Recurring Document Number (from FBD1):

Enter Fiscal Year:

Enter Settlement Period:

Enter Batch Input Session Name:

Then click Execute . A message like below will appear at the bottom.

13.6 Menu Path

Transaction Code: SM35



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13.7 Screen

Select the session name created then click Process. A window like below will pop up. Select

Display errors only then click Process.

Once the batch processing is done, a window will appear as below to notify end of the

processing. Go to tcode FB03 to check the entries posted.

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14 Post Adjusting Entries

14.1 Purpose

To post all entries not recorded during the period.

14.2 Menu Path

Transaction Code: FB50 ( Use FB60 tcode if the adjustment will be posted to a subsidiary ledger like

vendor)

Path: Accounting → Financial Accounting → General Ledger → Document Entry → Enter G/L Account

Document

14.3 Screen

Enter document date

Enter Posting date:

Enter currency:

Enter Document header:

Select GL accounts

Enter amount

Enter Cost Center

Enter Tax Code:

Click Simulate to check resulting entry:

Click Park/Post

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15 Clear Open Item Managed G/L

15.1 Purpose

To manually clear uncleared items of G/L.

15.2 Menu Path

Transaction Code: F-03

Path: Accounting → Financial Accounting → General Ledger → Account→ Clear

15.3 Screen

Enter G/L Account

Enter Company code:

Enter Clearing Date

Enter currency

Click Process open items

Double click the amounts to be cleared.

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Click Document.

Select Simulate.

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Click Post.

16 Execute Foreign Currency Valuation

16.1 Purpose

To revalue the balances of vendor, customer and G/L in foreign currency.

16.2 Menu Path

Transaction Code: FAGL_FC_VAL

Path: Accounting → Financial Accounting → General Ledger → Periodic Processing → Closing

→Valuate → Foreign Currency Valuation

16.3 Screen

Enter company code

Enter valuation date

Enter valuation area: ZM

Tick Create Postings

Tick Reverse Positng

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Click G/L Balances: example tick Valuate G/L Account balances

Enter G/L Accounts

Click Execute

Sample Valuation result

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Sample entry and the automatic reversal entry

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17 View Document Journal

17.1 Purpose

To view the documents posted during the period.

17.2 Menu Path

Transaction Code: S_ALR_87012287

Path: Accounting → Financial Accounting → General Ledger → Information System → General

Ledger Reports →Document → General → Document Journal

17.3 Screen

Enter Company code:

Enter Fiscal Year:

Enter Posting Period:

Enter GL account: (leave blank to generate all GL)

Untick test run.

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Select Line Item Pages only ( to view per line item)

Then click Execute.

Sample document journal

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18 Financial Statement

18.1 Purpose

To generate trial balance.

18.2 Menu Path


Path: Information System → Accounting → Financial Accounting → General Ledger Balance

Sheet

18.3 Screen

Enter chart of accounts:

Enter company code:

Enter FS version: RRG

Enter Reporting Year:

Enter reporting periods:

Enter Comparison year and period.

Click Execute.

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Sample Trial Balance

To generate the trial balance, click System then List, Save, and Local File. A window will appear next.

Select spreadsheet then click OK.

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Then save the file on the target storage location.

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IF THE PERIOD BEING CLOSED IS ALSO THE YEAR-END CLOSING, ADDITIONAL PROCESSES NEEDS TO BE EXECUTED

AS FOLLOWS:

19 Copy Financial Accounting number ranges to next fiscal year

19.1 Purpose

Number ranges are the document number ranges used on posting of transactions, thus, the

number ranges need to be copied to the next fiscal year to allow postings. This is under the

responsibility of Information Systems Department (ISD), thus, if in any way there will be errors in

postings due to number ranges, it should be coordinated with ISD.

20 Post Audit Adjustment to Period 13

20.1 Purpose

At the end of the audit period, audit adjustments needs to be posted in the books and in order to monitor the audit adjustment postings we can use Period 13.

20.2 Menu Path

Transaction Code: F-02

20.3 Screen

Enter document date

Enter Posting date : (Yearend date)

Enter Type: SA (GL Document)

Enter Period : 13

Enter company code

Enter currency

Enter Doc Header Text.

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Enter Posting Key:

Enter G/L Account

Enter the amount and tax code

Enter cost center if necessary

Enter posting key for the next line item

Enter amount and tax code (Repeat last two steps if another line item is needed)

Then click Document and select Simulate (to check the entry)

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Sample simulated entry

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Sample balances per period of the G/L account if postings are made to Period 13

21 Carry forward AR/AP Balances

21.1 Purpose

At the end of the period, AR and AP accounts have to be closed and the balances carried forward into the next period and year.

21.2 Menu Path


Path: Accounting → Financial Accounting → Accounts Receivable → Periodic Processing →

Closing →Carry Forward → Balance Carry Forward

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21.3 Screen

Enter company code:

Entercarryforward to fiscal year:

Tick Select Customer (leave blank if all customers)

Tick Vendor (leave blank if all vendors)

Click Execute.

The no. of records will be shown as applicable. Go back and untick test run if ok to carryforward.

22 Asset Year-end Closing Procedure

22.1 Purpose

In order to open the new fiscal year for asset accounting and to close the previous year to control

depreciation and postings to assets.

22.2 Menu Path

Transaction Code: AJRW; AJAB

22.3 Screen (AJRW – Open new fiscla year)

Enter company code

Enter new fiscal year

CLisk Test Run

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Click Execute

Sample status (should be green)

Click Back.

Untick Test Run

Click Program then select Execute in Background

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22.4 Screen (AJAB – Close previous year)

Enter company code

Enter fiscal year to be closed

CLisk Test Run

Click Execute

Sample result. In order to close the asset there should be no error as shown below.

Click Back

Untick Test Run

Click Program then select Execute in Background.

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23 Carry forward GL Balances

23.1 Purpose

This will result to carryforward of P&L accounts to the retained earnings.

23.2 Menu Path

Transaction Code: FAGLGVTR

Path: Accounting → Financial Accounting → General Ledger → Periodic Processing → Closing

→Carrying Forward → Balance Carryforward

13.3 Screen

Enter Ledger: OL

Enter Company Code:

Enter carryforward to fiscal year:

Click Execute.

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The result below will be shown. Click Retained Earnings account to check the amount and GL account of the

Retained Earnings to where the balances are carried forward.

Sample result of the carryforward to Retained Earnings.

Sample result of the carryforward to Balance Sheet accounts.

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