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SIAE
Version Name Document
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Roberto DellOro
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1 / 31
Updates: Rev. 00 01 02 03 Date 20.03.2012 20.12.2012 Level Revised by R. DellOro Daniele Ironi Verified by Approved by Note
Pag. 1
Project / Company
SIAE
Version Name Document
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Roberto DellOro
Complete
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Index
1 - REMINDER : CLOSING YEAR END ASSETS AND POST THE YEAR-END STOCK VALUATION ...................................................................................................................................... 3 1.1 CLOSING YEAR END ASSETS .............................................................................................. 3 1.2 Valuation of stock in transit (direct delivery) ............................................................................ 4 1.3 Valuation of in-house stock. ...................................................................................................... 7 2 - ACCOUNTS CLOSURES AT YEAR-END.................................................................................. 9 2.1 Profit and Loss accounts closing .............................................................................................. 10 2.2 Balance Sheet accounts closing/opening ................................................................................. 16 2.3 Profit and Loss G-ACCOUNTS closing .................................................................................. 21 2.4 Balance sheet G-ACCOUNTS opening/closing ...................................................................... 23 3 - REMINDER : Balance carryforward g/l and CUSTOMER VENDOR ....................................... 26 3.1 Balance Carryforward G/L Accounts ...................................................................................... 26 3.2 Balance Carryforward CUSTOMER AND VENDORS .......................................................... 29
Pag. 2
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
3 / 31
1 - REMINDER : CLOSING YEAR END ASSETS AND POST THE YEAREND STOCK VALUATION
Insert the company code and fiscalyear to be closed. The test mode option permits to check if all activities for the year has been executed. Production mode need to be run in background.
Pag. 3
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
4 / 31
You can display direct delivery stock in transit situation with transaction S_ALR_87012277 Select the variant for your company . Variant name is SMxx-IN-TRANS
The system shows the selection screen as follow. Insert Fiscal Year you are performing the stock valuation. Period is from 1 to 12.
Pag. 4
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
5 / 31
Execute The system shows the difference between account 40610020 (cost account for direct deliveries purchases) and G004100020 (Offsetting Account for direct deliveries invoiced to customer) in the period indicated (1 to 12). If all goods purchased by direct delivery have been invoiced to the customer the balance shown is zero.
If a positive balance is displayed it means that not all the goods purchased by direct delivery have
SIAE IntRollout Subsidiaries Year end Closure
Pag. 5
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
6 / 31
Post this difference to valuate the stock in transit (direct delivery) with a GL posting at the end of the period : Transaction FB50 Document type RC Posting date : end of the period. For example 31.12.aaaa for year-end closure. DEBIT 13130001 FINAL STOCKS FOR WORKS IN PROGRESS UND. CONTRACTS CREDIT 30220001 VAR.IN STOCKS OF WORK IN PROG. AND SEMI. GOODS
Pag. 6
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
7 / 31
Insert Fiscal Year you are performing the stock valuation. Period is from 1 to 12.
Execute
The variant shows the detail of the stock accounts G and displays the total of the period you have indicated in the selection screen.
SIAE IntRollout Subsidiaries Year end Closure
Pag. 7
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
8 / 31
The total of the stock can be posted with FB50 Document type RC Posting date : end of the period. 31.12.aaaa. DEBIT 13140001 CREDIT 30220002 FINAL STOCKS FOR FINISH. GOODS AND GOODS FOR RESA. VARIATION IN STOCKS OF FINISHED GOODS
The same amount of valuation must be posted in a reversal document with FB50 the day after (first January next year). DEBIT 30220002 CREDIT 13140001 VARIATION IN STOCKS OF FINISHED GOODS FINAL STOCKS FOR FINISH. GOODS AND GOODS FOR RESA.
Pag. 8
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
9 / 31
Access path
Menu Transaction code
Accounting Financial accounting General Ledger Periodic processing Closing Opening/Closing entries F_IT_01
Use variant SMxx-CLOSE to perform closing of P&L accounts and BS accounts. Use variant SMxx-G-CLOSE to perform closing of management accounts G. Choose the variant from here:
Pag. 9
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
10 / 31
GL account G accounts are not considered (G*) Fiscal Year : at the moment in the variant is 2010. Youll have to change it in the future every year.
Pag. 10
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
11 / 31
FOLDER Selections Posting period : from 1 to 16 Account selection : E (means P&L accounts) Create batch input product run : if this field is blank, when you execute youll run just a test. In order to create an effective run (batch input creation) you have to insert X in this field. Batch input session name : If you have set X in the previous field and you execute, the system will create a batch input session. Session name is the one you indicate in the field. FOLDER Accounts In the folder Accounts the system sets the transitory Income Statement Account (24140008) used to post the balances of the P&L accounts. In the field Retained Earnings Account you have to insert the account 21090001 in case you close the year with a profit. Otherwise if you have a loss use account 21090002.
(Fields Balance sheet account-closing and -opening will be used in paragraph for Balance Sheet accounts closing see next paragraph)
Pag. 11
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
12 / 31
FOLDER Postings In the folder Postings you have the document type used for the P&L closing postings (EC). The posting date is set to year end (31.12.2010 in the example). The Document date must be indicated according to the date of balance approval/closure. (31.12.2010 in the screenshot below is just an example).
Document type EC will be used and posted on 31.12 period 16. FOLDER Other parameters
In the last folder there are other parameters set by the variant. You can change the field text and insert the correct year.
Pag. 12
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
13 / 31
If you now execute the transaction without X in the field Create batch input product run you will execute just a test and you will see the list of postings the system would create.
Check if the test report is correct. The balance should be your profit/loss of the year you are closing.
For some accounts the comment Automatic posting could appear in the list :
Pag. 13
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
14 / 31
BEFORE PROCEED YOU NEED TO ASK SAP CONSULTANT TO CHANGE THE MASTER DATA IN THE ACCOUNT IN ORDER TO TEMPORARY DEACTIVATE THE AUTOMATIC POSTING FLAG. ONCE THIS HAS BEEN DONE YOU WILL BE INFORMED AND YOULL BE ABLE TO PROCEED AS FOLLOW.
When all the checks are done, insert X to create an effective run.
and Execute
Pag. 14
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
15 / 31
The system will create a batch input session ready to be executed. You can see the batch input session with transaction SM35 :
Select the batch input session line. (it will be highlighted in orange) Execute it with button
Select Background and press Process. If everything is ok the batch input session line disappears or shows you a green flag.
Pag. 15
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
16 / 31
At the end of the execution the system will have closed the P&L accounts in this way: 1) All the costs and the revenues will be closed against the temporary retained earning accounts stored in the GL account master data (21090003 or 21090004) 2) Balances on retained earnings accounts 21090003 and 21090004 will be automatically closed against transitory profit/loss account 24140008. 3) Balance on transitory account 24140008 is definitively automatically closed against balance sheet account 21090001 in case of profit; against 21090002 in case of loss.
INFORM SAP CONSULTANT WHEN YOU HAVE FINISHED IN ORDER TO SET AGAIN AUTOMATIC FLAG IN THE MASTER DATA OF AUTOMATIC ACCOUNTS.
Pag. 16
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
17 / 31
Balance Sheet Account- Closing : balance sheet offsetting account to which the closing balances of balance sheet accounts are to be posted at year-end in period 16. Balance Sheet Account- Opening : balance sheet offsetting account to which the opening balances of balance sheet accounts are to be posted on 01 January of the following year.
Document type EC will be used for closing postings in period 16. EA for opening postings in period 1 of the next year. Document date for closing period must be set as the date of balance approval. Document date for opening posting must be the day after. (in the screenshot 30.06 and 01.07 are just examples).
Pag. 17
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
18 / 31
Pag. 18
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
19 / 31
As well as in the P&L closing for some accounts the comment Automatic posting could appear in the list. BEFORE PROCEED YOU NEED TO ASK SAP CONSULTANT TO CHANGE THE MASTER DATA IN THE ACCOUNT IN ORDER TO TEMPORARY DEACTIVATE THE AUTOMATIC POSTING FLAG. ONCE THIS HAS BEEN DONE YOU WILL BE INFORMED AND YOULL BE ABLE TO PROCEED AS FOLLOW.
When all the checks are done proceed and insert X to create an effective run.
and Execute the system will create a batch input session ready to be executed. You can see the batch input session with transaction SM35 :
Select the batch input session line. (It must become orange) Execute it with button
Pag. 19
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
20 / 31
Select Background and press Process. If everything is ok the batch input session line disappears or shows you a green flag. If errors occur a red symbol is displayed : Please inform SAP consultant in this case.
At the end of the process the Balance Sheet accounts will have been closed (balance = 0) in period 16 against account 21100001 CLOSING ACCOUNT FOR ASSETS AND LIABILITIES and opened on 01.01 of the next year against account 21100002 OPENING ACCOUNT FOR ASSETS AND LIABILITIES. INFORM SAP CONSULTANT WHEN YOU HAVE FINISHED IN ORDER TO SET AGAIN AUTOMATIC FLAG IN THE MASTER DATA OF AUTOMATIC ACCOUNTS.
Pag. 20
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
21 / 31
G/L account : only G accounts are included Account selection : The system set E = profit and loss accounts. Batch input session name : Change the year Create batch input prodctn run : X only when you want to run in effective mode. Otherwise you run just a test. Batch input session name : Change the year G accounts will be posted :
Pag. 21
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
22 / 31
The Document date must be indicated according to the date of balance approval/closure. (31.12.2010 in the screenshot below is just an example). Proceed the same way you posted the P&L accounts closing: Execute in test Check the list Verify if Automatic posting comment is present for some accounts in the list. If yes, ask SAP consultant to change master data for those accounts. Check again and run in effective if everything is ok. Ask SAP consultant to change back the master data for automatic accounts.
Pag. 22
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
23 / 31
At the end of the execution the system will have closed the P&L G-accounts in this way: 1) All the P&L G-accunts will have been be closed against the temporary retained earning accounts stored in the GL account master data (G21090001 or G21090003) 2) Balances on retained earnings accounts G21090001 and G21090003 automatically closed against transitory profit/loss account G24140008. 3) Balance on transitory account G24140008 definitively automatically closed against balance sheet account G21090001.
Pag. 23
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
24 / 31
G/L account : only G accounts are included Account Selection : Set P (that means balance sheet accounts) Batch input session name : Change the year Create batch input prodctn run : X only when you want to run in effective mode. Otherwise you run just a test. Batch input session name : Change the year G accounts will be posted :
The Document date must be indicated according to the date of balance approval/closure. (31.12.2010 in the screenshot below is just an example).
Pag. 24
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
25 / 31
Proceed the same way you posted the balance sheet accounts closing: Execute in test Check the list Verify if Automatic posting comment is present for some accounts in the list. If yes, ask SAP consultant to change master data for those accounts. Check again and run in effective if everything is ok. Ask SAP consultant to change back the master data for automatic accounts.
At the end of the process the Balance Sheet G-accounts will have been closed (balance = 0) in period 16 against account G21100001 CLOSING G ACCOUNTS and opened on 01.01 of the next year against account G21100002 OPENING G ACCOUNTS. As final step the balance on retained earning account G21090001 must be closed manually against G21100001 and NOT opened the day after. Use transaction FB50 to do it : Document date and posting date 31.12.aaaa Period 16 Document type GG Example:
Pag. 25
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
26 / 31
Access path
Menu Transaction code Insert these data:
Accounting Financial accounting General Ledger Period Processing Closing Carrying forward Balance Carryforward (new) Display : FAGLGVTR
Ledger: 0L Company code: your company code (in this case: SMGB) Carry forward to fiscal year: New fiscal year where you want register balance carryforward (in this case 2012) Test run: flag this checkbox to run the carryforward process in a testing mode in order to check if data are correct.
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Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
27 / 31
Click on
This message is displayed at the bottom of the screen : Run the transaction without the Test flag to effectively carry forward the balances. Carrying forward balances transaction is just a technical operation to have correct data displayed for each account. It doesnt represent a closing/opening transaction! If other operations are performed in the previous fiscal year after run the carry forward transaction, it wont be necessary to run the program again, as the balances will be automatically updated.
Pag. 27
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
28 / 31
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Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
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Transaction code
Company code : Set the company code. Carryforward to fiscal year : Set the new fiscal year. Select customers : flag to carry forward balances of the customers accounts. Select vendors : flag to carry forward balances of the vendors accounts. Test run : flag to run a test mode execution. Detail log : flag to have a detailed log of the execution. Click on to execute.
Pag. 29
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
30 / 31
Deselect the Test run checkbox in the selection screen to effectively execute the carrying forward process:
Click on
Check the carried forward balance with transactions FD10N for the customers and FK10N for the vendors. Example:
SIAE IntRollout Subsidiaries Year end Closure
Pag. 30
Project / Company
SIAE
Version Name Document
1.00
Status
Roberto DellOro
Complete
31 / 31
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