L3.F.gl2 Period Management
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Transcript of L3.F.gl2 Period Management
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Period Management andClosing Operations
General LedgerL3.F. GL2 Session
October 12, 2006
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Agenda
Ground Rules & Introduction Project Timeline Work session Objectives SAP Terms Glossary
Business Process Review AS-IS process flow
Process Improvement opportunities SAP concepts & functionality Business process flow
Best practices & Benefits realization Organizational Impacts
Next Steps Action items Questions
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Ground Rules
Everybody participates blueprint is not aspectator sport
Silence means agreement Focus is key please turn off cell phones and
close laptops Challenge existing processes and mindsets Offer suggestions and ideas Think Enterprise Ask questions at any time
One person at a time please Timeliness returning from break
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Introduction
Roles Process Analyst and Functional Consultant lead and
facilitate the discussions and drive design decisions Documenter take detailed notes to support the formal
meeting minutes to be sent by the Process Analyst to allparticipants for review and feedback
Team Members provide additional support for processdiscussions, address key integration touch points Subject Matter Experts advise team members on the
detailed business process and participate in the decisionsrequired to design the future state business process
PRM Team Members transition assistance, controls
documentation, and risk assessment
Round the Room IntroductionsName
Position
Department or School
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What is BRITE?
BRITEBrowards Innovative Tool for Education
Our Vision One Business System for Broward Schools
Our Mission Adopt best practices and involve endusers to create one business system in SAP
Want to know more:
Visit our website at: http://web/erphttp://www.broward.k12.fl.us/erp
http://web/erphttp://www.broward.k12.fl.us/erphttp://www.broward.k12.fl.us/erphttp://web/erp -
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Project Phases
Five Key Phases
Strategy & Approach Defined
Project Team Training
Business Process Definition
Development Requirements
Development & Unit Testing
Integration Testing
End-User Training Materials
User Acceptance
Technical Testing
End-User Training
Conversion
Go-Live Support
Performance Tuning
Pro
ject
Prepa
ration
Business
Blue
print
Realization
Go
Live
and
Sup
port
Final
Prepa
ration
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Project TimelineWaves Process Areas Specific Modules
Wave 1Finance/BudgetHR/PayrollProcurement
GL, AP, FM, CO, SEM-BPSPA, OM, PY, TM, TEM, e-Rec, BN, ESS, PD, PayrollMM, IM
Wave 2 Finance GM, CFM, AA, AR, PS, PBC
Wave 3 Plant Maintenance PM
FebMarApr ayJun Jul AugSepOct ovDecJanFebMarApr ayJun Jul AugSepOct ovDecJanFebMarApr ayJun Jul AugSepOct ovDecJanFebMarApr ayJun Jul AugSepOct ov
mySAP Wave s Proce ss Area s
Enterprise
Blueprint
All Functional
AreasBlueprint
Wave 1GL, AP, FM, CO, SEM-
BPS,PA, OM, PY, TM, TEM,eRec, BN, ESS, PD, Payroll,
MM, IM
Finance/Budget,
HR/Payroll,Procurement
Realization
Fina
lPrep
Go
Live
Wave 2GM, CFM, AA, AR, PS, PBC
Finance
Blueprint
Realizati
FinalPrep
Go
Live
Wave 3PM
Plant
Maintenance
Blue
print Realization
FinalPrep
Go
Live
BCPSmySAP
Implementation
2006 20092007 2008
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Project Organization Functional TeamsProject Management
Melissa Grimm (Project Mgt)Leah Williams (Project Mgt)
Finance/Budget Leads
Tom Campbell Finance Lead
Colleen Casey Budget Lead
Mary Ramsrud Consulting Lead
HR/Payroll Leads
Susan Rockelman HR Lead
Debbie Bouhenguel Payroll Lead
Patsy Burns Consulting Lead
Operations Team Leads
Robert Peinado Operations Lead
Jeetendra Kumar MM Consulting Lead
Bob ThomassonPM Consulting Lead
General Ledger
Accts ReceivableCost Accounting
Grants Mgt
Asset Accounting
Position Budget (PBC)
Cindy WadeSheeraz IqbalAccounts Payable
Cash ManagementFunds Management
Project Systems
Budget Prep (BPS)
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Blueprint Objectives
Review and discuss the current or As-Is business processes Which helps to drive out the Business requirements
As well as the integration pointswith other processes Define Master Data
Address key integration points Support organizational requirements
Consistent and appropriate use of data fields Define Future or To-Be business processes based on:
Best Practices inherent in SAP Intellectual capital from other SAP implementations The BCPS business requirements
Identify development requirements
Which could result in the need for a form, report, interface,conversion, or enhancement (FRICE) Understand and communicate any organizational impacts / Change
Management Gather system security authorizations and district-wide training
requirements
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Work Session Objectives
Month End closing process
Year End closing process
Period Control with determination of special periods
Cross Module and team integration
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AS-IS Controls Environment
Examples of existing controls around current businessprocesses: Authorization / approvals
Management approves purchases.
Reconciliation
Bank reconciliations
System Configuration
Three-way matching occurs in system
Data Interfaces, exception / edit reports
Rejected data is isolated, analyzed and corrected in a timely manner.
System Access
Access to post Journal Entries is restricted to authorized personnel
Management Review
Large and unusual cash disbursements are reviewed by management.
Segregation of Duties
Access to pay vendors is segregated from access to create vendors.
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Period Management and Closing Operations
As-Is Process Flow
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As-Is Process Flow
Period Management and Closing Operations
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Period Management and Closing Operations
The closing of a period is performed in threesets of steps: pre-closing, managerial closing,and financial closing.
Pre-Close activities ensure that all necessaryentries have been posted in the General Ledger(G/L), including entries from feeder systems/sub
ledgers and accruals and recurring entriesposted directly to the G/L. Pre-close activitiesoccur in both the old and new months.
Managerial Close activities involve the re-assignment of costs throughout the entireorganization, using the allocation and
settlement functionality provided withinControlling
Financial Close activities include finaladjustments to valuations and balances prior tothe final close and preparation of reports.Adjustments from the cost flows recorded in the
managerial closing activities are updated to FIthrough the reconciliation ledger posting.
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Period Management and Closing Operations
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Period Management and Closing Operations
The closing of a period is performed in three sets of steps: pre-closing, managerial closing, andfinancial closing.
Pre-Close activities ensure that all necessary entries have been posted in the General Ledger
(G/L), including entries from feeder systems/sub ledgers and accruals and recurring entriesposted directly to the G/L. Pre-close activities occur in both the old and new months.
Managerial Close activities involve the re-assignment of costs throughout the entire organization,using the allocation and settlement functionality provided within Controlling
Financial Close activities include final adjustments to valuations and balances prior to the finalclose and preparation of reports. Adjustments from the cost flows recorded in the managerialclosing activities are updated to FI through the reconciliation ledger posting.
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Period Management and Closing Operations
To separate business transactions into different periods, a fiscalyear with posting periods has to be defined. The fiscal year isdefined as a variant which is assigned to the company code.
The fiscal year variant contains the definition of posting periodsand special periods . Special periods are used for postings whichare not assigned to time periods, but to the process of year-end
closing. In total,16 periods can be used. The system derives the posting period from the posting date. When
the posting date falls within the last normal posting period, thetransaction may be posted into one of the special periods.
Example: Above you see a fiscal year with 12 posting periods and4 special periods. If the posting date falls in the 12th period, the
transaction can instead be posted in one of the four specialperiods. Standard fiscal year variants are already defined in the system and
can be used as templates. Note: The fiscal year variant does not include the information as to
whether a period is open or closed; this is maintained in anothertable. The fiscal year variant only defines the amount of periods
and their start and finish dates.
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Period Management and Closing Operations
Use of Special Periods
Period 13 - Year-End adjustments prior to draft statements
Period 14 - Draft Statements including re-class entries
Period 15 - School Board generated adjustments for Audit purposes
Period 16 - Final statements including audit adjustments
Special periods need extra care when posting to them
Access to posting in the special periods should be limited to key staff
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Period Management and Closing Operations
DAY 0 - last day of the
month
DAY 1 DAY 2 DAY 3 DAY 4
Open next month's posting
period for FI-GL, AR, AP
& AA
Post all parked entries
(AP, AR, GL)
Post final AP invoices Record recurring expenses Perform FI reposting
Open next month's posting
period for CO
Complete all goods
receipt of the reporting
month (MM)
Maintain GR/IR account Transfer CATS time sheetpostings for activity
allocation
Run assessments forGrant
Open next month's posting
period for FM
Record payroll accrual Bank reconciliations (to
final hardcopy (Wave1)
Run CO assessments,
distributions, settlements
Resource related Billing
for reporting month
Complete and verifydaily interfaces andbatch jobs
Perform Purchasing
closing steps (e.g.
contracts, etc)
Complete Customerbillings for reportingmonth
Effect all fixed asset
transfers
Run & Verify MRP Perform Inventory closingsteps
Settle capital projects to
AuCs and final assets
Record accrued expenses,
assets and liabilities
Investment and debt
postings (interestaccrual, allocations,market valuation)
Run asset depreciation
Roll MM period Load last electronic bankstatement (EBS) for the
month (Wave2)
EOD: Close A/P period EOD: Close AA period EOD: Close A/R period
Review Schedule
Manager tasksReview Schedule Manager
task status
Late pm: Run pre-close
financial reports (eg.Trial
Balance for Fund, Grant,Project, etc
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Period Management and Closing Operations
DAY 5 DAY 6 DAY 7 DAY 8 DAY 9
Review pre-close reports Run FinancialAccounting comparative
analysis
Enter Agency Trial
Balances in SAPReverse accrual forinterest on investmentsand debt (Wave 1)
Reconcile fund-level
cash to investments &
cash on hand
Post final adjusting/ re-
class journalsReverse accruals in the new
reporting period
Complete bankreconciliations
Perform variance
analysis, as required
Transfer encumbrancefrom FM to FI
Calculate and post
adjustments, if any
EOD: Close CO period 5pm: Close G/L period
EOD: Close FM period
for reporting monthLate pm: Run final
financial reports
Inform all end-Usersthat Reporting month isclosed for postings
Late pm: Verify BW
extracts & reports
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Period Management and Closing Operations
POSTING PERIOD
Posting periods are defined in the fiscal year variant. To prevent documents from being posted to a wrong posting period, desired periods
can be closed.
Usually the current posting period is open and all other periods are closed. At theend of a period it is usually closed and the next period is opened. A period isopened by entering a range into the posting period variant which encompasses thisperiod. It is possible to have as many periods open as desired.
The posting period variant controls whether or not it is possible to post to a givenperiod or periods within either a single company code or a group of company codes.
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Period Management and Closing Operations
Month-End Closing
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Period Management and Closing Operations
Due to statutory requirements and/or company policies,the companys books may be closed and a new period
opened on a monthly basis.
The typical SAP fiscal closing spans 5-7 days after theend of the month. The goal is to eventually reduce it to 5days
The month-end closing process, using SAP transactions,
is provided in the following section.
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Period Management and Closing Operations
Month-End Closing Process
Open and ClosePosting Periods
(OB52)
CloseMaterial Master
(MMPV)
Generate List ofStock Values
(MB5L)
Reconcile: Daily Journal Entries (FB50) Daily Deposits (FB50) Weekly Journal Entries
Bank Charges and Credits (FB50)Vendor Checks Issued (FCHR)
Post (FB50): Depreciation Amortization Salaries Accruals/Deferrals Month-EndInsurance and Rent
Perform CostCenter Analysis
(S_ALR_87013612)
Create FinancialStatements
(S_ALR_87012284)
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Period Management and Closing Operations
You define posting
periods in your fiscal yearvariants. You can openand close theseposting periods forposting. As many periods asyou require can be openfor posting
simultaneously.
Usually, only the current posting period is openfor posting, all other posting periods are closed.At the end of this posting period, the period isclosed, and the next posting period is opened.
Open and ClosePosting Periods
(OB52)
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Period Management and Closing Operations
Special PeriodsPeriod Range
Closing a Posting Period and Opening a New One
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Period Management and Closing Operations
Some data (stocks and
certain valuation datasuch as total value,total stock, valuationclass, price control indicator,
and price unit) ismanaged by period.
For values and goods movements to be posted tothe correct period, the period must be setwhenever a new period starts.
CloseMaterial Master
(MMPV)
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Period Management and Closing Operations
MMRV providescurrent status.
MMPV closes Material Master recordsfor the old period and opens a new one.
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Period Management and Closing Operations
This list provides total stock
count and respectivevalues.
Totals
Details
Generate List ofStock Values
(MB5L)
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Period Management and Closing Operations
Reconcile Daily Journal Entries (FB50)
Use this transaction to enter G/L account postings on adaily basis.
Reconcile Daily Deposits (FB50)
The same transaction is used to reconcile daily,
lockbox, and credit card deposits.
Reconcile: Daily Journal Entries (FB50) Daily Deposits (FB50)
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Period Management and Closing Operations
This is a single-screen transaction. You can
enter, hold, park, and post documents on onescreen with a minimum amount of entries.
DebitCredit
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Period Management and Closing Operations
Bank Charges and Credits (FB50)
Use the same transaction used for daily reconciliations.This transaction is used to post bank charges, credits,
and other miscellaneous charges.
Vendor Checks Issued (FCHR)
Use this procedure to reconcile and post vendorchecks that have been issued.
Perform this procedure when the bank statementverifies payment to vendor.
Reconcile Weekly Journal Entries Bank Charges and Credits (FB50)Vendor Checks Issued (FCHR)
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Period Management and Closing Operations
Using the same transaction used to perform daily and weeklyreconciliations, at month-end, post the following:
Depreciation - allowance made for a loss in value of property
Amortization - the reduction of the value of an asset by prorating
its cost over a period of time Salaries the fixed compensation for services paid to a person on
a regular basis
Accruals the accounts on a balance sheet that representliabilities and non-cash-based assets used in accrual-based
accounting. These accounts include accounts payable, accountsreceivable, goodwill, future tax liability and future interest expense
Deferrals payments deferred to a later date
Month-End Insurance and Rent insurance and rent payments
Month-End Posting (FB50
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Period Management and Closing Operations
Perform this procedure when you
need to determine/report theresults of the balance sheet andprofit and loss statement.
Balance Sheet
Invoice-based closing for a group at a specific point in time(financial statements key date) in the form of a comparison ofassets and capital (liabilities and owner's equity).
Assets and capital reflect the same total value. This is expressedin the balance sheet (assets = capital).
Profit and Loss Statement Comparison of revenue and expenditure of a period to determine
the results for the company and the sources of these results.
Create FinancialStatements
(S_ALR_87012284)
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Period Management and Closing Operations
A cost center is an organizational
unit within a controlling area thatrepresents a defined location of
cost incurrence.
Use this procedure to display, review, and analyze costs
associated with cost centers.
Perform CostCenter Analysis
(S_ALR_87013612)
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Period Management and Closing Operations
Year-End Closing
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Period Management and Closing Operations
Due to statutory requirements and/or companypolicies, the companys books must be closed
and a new period opened on a yearly (annual)basis.
The December month-end closing process mustbe completed prior to performing the year-endclosing process.
The year-end closing process, using SAPtransactions, is provided in the following section.
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Period Management and Closing Operations
Conclude JuneMonth-End
Closing
Generate AccountBalances for Old
Fiscal Year(S_ALR_87012277)
Block OldFinancial Year
(OB52)
Create FinancialStatements
(S_ALR_87012284)
Carry ForwardBalance for
Receivables/Payables(F.07)
Carry ForwardBalance for
G/L Accounts(FAGLGVTR)
Generate ForwardAccount Balances for
New Fiscal Year(S_ALR_87012277)
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Period Management and Closing Operations
The G/L account balance list shows the followingfigures:
Balance carried forward at the beginning of the fiscalyear
Total of the period or periods carried forward
Debit total of the reporting period
Credit total of the reporting period
Debit balances or credit balances at the close of thereporting period (optional)
Generate AccountBalances for Old
Fiscal Year(S_ALR_87012277)
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Period Management and Closing Operations
This program calculates the balance carried forward for
customers and/or vendors. The balances of the previous year are carried forward to
the new year. If the account has not yet been posted inthe new year and no balance carried forward has beencarried out for this account, the account is opened in thenew year with the 1st balance carried forward; otherwise,the balance carried forward of the account is stored in thenew year if changes result.
Carry ForwardBalance for
Receivables/Payables(F.07)
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Period Management and Closing Operations
When posting into a previous year, the system carriesforward the balance automatically. This is independent of
whether the program has already run or not. "posting to aprevious year" means that the posting date of thedocument has an earlier year than the entry date.
This automatic carrying forward also occursaccumulatively over several years that means a posting inJanuary 1993 with the posting date December 1991changes the balance carried forward for 1992 and 1993.
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Period Management and Closing Operations
Carry Forward Balance forReceivables/Payables (F.07)
When posting into a previous year, the system carriesforward the balance automatically. This is independent ofwhether the program has already run or not. "posting to aprevious year" means that the posting date of thedocument has an earlier year than the entry date.
This automatic carrying forward also occurs
accumulatively over several years that means a posting inJanuary 1993 with the posting date December 1991changes the balance carried forward for 1992 and 1993.
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Period Management and Closing Operations
Carry Forward Balance for
Receivables/Payables (F.07)
SAP recommends that the program is run at the beginning ofthe new fiscal year.
If the program is already run at the end of the last fiscal year,postings which are posted after this to the last fiscal year, donot result in automatic adjustment of the balance carriedforward because it is not a "posting to a previous year".
In such a case, it is necessary to let the program run againafter these postings to carry forward the postings enteredlater.
P i d M d Cl i O i
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Period Management and Closing Operations
Carry Forward Balance for
Receivables/Payables (F.07) The program can be started as often as desired. Nevertheless, you can post to the new year if the program
has not yet run. When posting, the accounts, however,
with a balance carried forward of greater than zero areopened.
Postings in the previous year do increase this balancecarried forward, but do not carry forward the total of theitems already posted in the old year to the new year; thebalance carried forward only has the items posted by thenew year into the previous year, but not the items postedin the previous year itself.
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Period Management and Closing Operations
Carry Forward Balance for G/L
Accounts (FAGLGVTR)
This process involves carrying forward account balancesinto the new fiscal year. The balance to be carried forwardis shown in the account balance display. To carry forwardbalances, you can use separate programs for G/L
accounts, and for customer and vendor accounts.
You therefore do not even have to carry out the balancecarry forward manually if you have already posted to thenew fiscal year.
Carry ForwardBalance for
G/L Accounts(FAGLGVTR)
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Period Management and Closing Operations
Carry Forward Balance for G/L
Accounts (FAGLGVTR) The transaction is executed as follows:
Balance Sheet and Customer and Vendor Accounts
The balances on the balance sheet accounts are simply
carried forward into the new fiscal year. Additional account assignments are transferred.
Profit and Loss Accounts
Profit and loss accounts are carried forward to retained
earnings accounts. The balances of the profit and lossaccounts are set to 0.
Additional account assignments are not transferred.
Transaction currencies are no longer applicable and theprofit and loss accounts are summarized in local currency.
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Period Management and Closing Operations
Generate Forward Account Balancesfor New FY (S_ALR_87012277)
This is the same transaction as generating forwardaccount balances for old fiscal year.
Generate ForwardAccount Balances for
New Fiscal Year(S_ALR_87012277)
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Period Management and Closing Operations
Create Financial Statements
(S_ALR_87012284)
As part of the year-end closing, individual companiescreate financial statements according to country-specificregulations.
This is the same transaction as creating external reportsdiscussed in the month-end closing process.
Create FinancialStatements
(S_ALR_87012284)
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Period Management and Closing Operations
Block Old Financial Year (OB52)
This is the same transaction as opening andclosing posting periods discussed in the month-end closing process.
Block OldFinancial Year
(OB52)
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Period Management and Closing Operations
Profit and Loss Statement Report
S_PL0_86000028 this transaction executes theProfit and Loss statement and provides informationfor actual/actual comparisons.
P i d M d Cl i O i
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Period Management and Closing Operations
General Ledger Account Balance Report
S_PL0_86000030 this transaction generates a GeneralLedger account balance report.
P i d M d Cl i O i
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Period Management and Closing Operations
Additional Closing Transaction
T-Code ReportTitle
Use this transaction to
ACACCARRYFORWARD
AccrualCarryForward
Carry forward already posted accruals from theaccrual engine. After data carry forward, accrualscan be posted in the same year. This transactioncan be run in test mode.
Use the work instruction to perform this additional Closing transaction.
Period Management and Closing Operations
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Period Management and Closing Operations
Additional Closing ReportsUsing the reporting features provided in the SAP Basics and
Navigation Course, you can execute and use the followingadditional reports when needed.
T-Code Report Title Use this transaction to
S_ALR_87012026 DepreciationForecast
Run a report on depreciation.
S_ALR_87011981 PhysicalInventory List
Display inventory of assets in company code.
S_ALR_87012006 DepreciationStatement
Display all depreciation postings for selected assets to aspecific date.
S_ALR_87012394 Record of Useand Sales Taxes(USA)
Display customer/vendor types totaled by jurisdiction code andtax base amount along with total tax.
S_ALR_87012287 DocumentJournal
Display all posting periods with reference to documents(created monthly).
S_ALR_87012289 CompactDocumentJournal
Display the most important data from document headers anditems in a table format for selected documents.
S_ALR_87012291 Line Item
Journal
Display a journal report at the line item level for selected
posting documents.
Period Management and Closing Operations
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Period Management and Closing Operations
Additional Closing Reports (continued)
T-Code Report Title Use/Results
S_ALR_87012293 Display ofChangedDocuments
Display a list of charges made to various documents.Selection is by company code, document number, year,etc.
S_ALR_87012342 Gaps inDocument
NumberAssignment
Display a gap in the document number assignment anddocuments assigned more than once.
S_ALR_87012333 G/L Accounts List Display a list of G/L accounts by company code or Chartof Accounts.
S_ALR_87012341 Invoice NumbersAllocated Twice
List of Invoices applied twice for a vendor
S_ALR_87012342 Gaps inDocumentNumberAssignment
Document Numbers Missed by System
S_ALR_87012346 Recurring EntryDocuments
List displays all recurring entry documents
P i d M t d Cl i O ti
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Period Management and Closing Operations
Schedule Manager
Schedule Manager can be used as the central tool to schedule and monitor all transactions andprocesses related to the closing process. It provides a good overview of the status of theclosing and contains various means of automating and providing reminders for tasks. Thefollowing main areas will be explored and utilized:
Task List components available in the task list are used to structure the period closing process
Workflow (to schedule series of jobs, which need to be run sequentially)
Background jobsOn-line programs or transactions that are executed directly from within Schedule Manager
Text reminders for non-SAP tasks, e.g. reconcile fund-level cash to investments and cash onhand.
Scheduler - shows tasks that have been completed on a specified day, or where action needs tobe taken. The calendar requires entries to be made for a given day at a certain time.
Monitor - functionality provides:
Detailed job status (spool lists, job log) for a given task
View messages related to given tasks
Work List - better handling of errors. Faulty objects do not go through to the next step, but arelogged for review.
Ownership of this tool should rest with the Controllers Office, since this office bears ultimate
responsibility for ensuring that the books are closed on an accurate and timely basis. One person, witha backup, should be designated to run the Schedule Manager and monitor the status of the tasks.
P i d M t d Cl i O ti
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Period Management and Closing Operations
P i d M t d Cl i O ti
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Period Management and Closing Operations
Perform monthly and annual close
Develop and communicate comprehensive monthly and annual closingschedules
Establish monthly cutoffs to facilitate timely monthly closings
Closing should be centrally controlled and managed to ensure that all stepsare completed timely and in sequence
Closing schedule includes the closing of all modules and the closing shouldbe controlled by Finance
All adjusting entries should be posted in the ERP system
System should provide extended periods for closing entries
Best Practices
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Next Steps
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