Period End Closing in Financial ... - websmp209.sap …sapidp/012002523100012733122015E/... · © 2014 SAP SE or an SAP affiliate company. All rights reserved. 2 Purpose, Benefits,

Period End Closing Financial Accounting

SAP Best Practices

© 2014 SAP SE or an SAP affiliate company. All rights reserved. 2

Purpose, Benefits, and Key Process Steps

Purpose

The closing operations component helps you prepare and carry out the activities required

for day-end, month-end and year-end closing.

For this purpose, the system provides a series of standard reports that can be used to

generate evaluations and analyses of the posted account balances directly.

Benefits

The system helps you to carry out the following:

create the balance sheets and P&L statements

document the posting data

Key Process Steps

Day-end Closing

Month-end Closing

Year-end Closing


Required SAP Applications and Company Roles

Required

Enhancement package 7 for SAP ERP 6.0

Company Roles

Finance Manager

General Ledger Accountant

Accounts Payable Accountant

Accounts Receivable Accountant

Finance Manager (Germany)

Accounts Payable Manager


Detailed Process Description

Day-end Closing in Financial Accounting

Update Exchange Rates

Gaps in Document Number Assignment

Invoice Numbers Allocated Twice

Display Compact Document Journal



Month-end Closing in Financial Accounting (I)

Update Exchange Rates

Gaps in Document Number Assignment

Invoice Numbers Allocated Twice

Open and Close Posting Periods

Enter Recurring Entries

Post Recurring Entries

Run Batch Input Session

Automatic Clearing of GR/ IR Account special process

Analyze GR/ IR Clearing Accounts

Automatic Clearing of GR/ IR Account

Post Adjustment Entries



Month-end Closing in Financial Accounting (II)

Foreign Currency Revaluation

Post Tax Payable

Advance Return for Tax on Sales/ Purchases

EC Sales List

Foreign Trade Regulation Reports Z4

Foreign Trade Regulation Reports Z5A

Comparison Documents/ Transaction Figures

Close Previous Accounting Period

Balance Interest Calculation

Display Document Journal

Financial Statement



Year-end Closing in Financial Accounting

Create Factory Calendar for New Year

Carry Forward AP/ AR Balances

Carry Forward GL Balances

Re-grouping Receivables/ Payables

Balance Confirmation Receivable

Balance Confirmation Payable

Final Close and Release Financial Reporting

Close Previous Accounting Period



Process Flow Diagram

Process 1, Day-End Closing

Fin

an

ce

Ma

na

ge

rE

ve

nt

Process Decision

Update

Exchange Rates

Day-End

Closing

Display the

Compact

Document

Journal

Create List of Invoice Number Allocated

Twice

Create List of Gaps in Document Number

Assignment

Ge

ne

ral

Le

dg

er

Ac

co

un

tan

t



Process 2, Month-End-Closing

Fin

an

ce

Ma

na

ge

rE

ve

nt

Update Exchange Rate

Month-End Closing -Posting

Month-End Closing –Updating

Process Decision

Open and Close Posting

Periods

EnterRecurring

Entries

Execute Recurring

Entries

Gaps in Document Number

Assignment

InvoiceNumber

AllocatedTwice

Run Batch Input

Session

Account - Automatic Clearing

Post TaxPayable

Analyse GRIR Clearing

Account - Automatic Clearing

Post G/L Account Document

Ge

ne

ral L

ed

ger

Ac

co

un

tan

t

Foreign Currency Revaluation

Advance Return for Tax

on Sales/Pur

chases

EC SalesList

Manual Clearing

Foreign Trade

Regulation Reports Z4

Foreign Trade

Regulation Reports

Z5A

ReconciliationNew


Interest CalculationBalances

AssignProvisions

Define Interest Rates

Valuation ofProvisions

Financial Statement

Actual/AcutalComparsion

Post Provisions

Display Document

Journal

Financial Statement

Actual/Acutal Com-

parsion

Actual/Actual Com-

parsionFinancial Statement

Fin

an

ce

Ma

na

ge

r (G

erm

an

y)

Ac

co

un

ts

Pa

ya

ble

M

an

ag

er



Process 3, Year-End-Closing

Acco

un

ts

Receiv

ab

le

Acco

un

tan

tE

ve

nt

Acco

un

ts

Payab

le

Acco

un

tan

t

Regroup Receivables / Payables

Year-End Closing -Updating

Carry Forward GL Balances

Carry Forward AP/AR Balances

Create Factory Calendar for New Year



Create Balance ConfirmationReceivable

Create Balance ConfirmationPayable

Create Balance Sheet and P&L Statement

Fin

an

ce

Man

ag

er

Gen

era

l L

ed

ger

Acco

un

tan

t


Legend

Symbol Description Usage Comments

To next / From last Diagram: Leads to the next / previous page of the Diagram

Flow chart continues on the next / previous page

Hardcopy / Document: Identifies a printed document, report, or form

Does not correspond to a task step in a document; instead, it is used to reflect a document generated by a task step; this shape does not have any outgoing flow lines

Financial Actuals: Indicates a financial posting document


Budget Planning: Indicates a budget planning document


Manual Process: Covers a task that is manually done

Does not generally correspond to a task step in a document; instead, it is used to reflect a task that is manually performed, such as unloading a truck in the warehouse, which affects the process flow.

Existing Version / Data: This block covers data that feeds in from an external process

Does not generally correspond to a task step in a document; instead, this shape reflects data coming from an external source; this step does not have any incoming flow lines

System Pass / Fail Decision: This block covers an automatic decision made by the software

Does not generally correspond to a task step in the document; instead it is used to reflect an automatic decision by the system that is made after a step has been executed.

Exte

rnal

to S

AP

Business Activity / Event

Unit Process

Process Reference

Sub-Process

Reference

Process Decision

Diagram Connection

Hardcopy / Document

Financial Actuals

Budget Planning

Manual Process

Existing Version /

Data

System Pass/Fail Decision

Symbol Description Usage Comments

Band: Identifies a user role, such as Accounts

Payable Clerk or Sales Representative. This band

can also identify an organization unit or group,

rather than a specific role.

The other process flow symbols in this table go

into these rows. You have as many rows as

required to cover all of the roles in the scenario.

Role band contains

tasks common to that

role.

External Events: Contains events that start or end

the scenario, or influence the course of events in

the scenario.

Flow line (solid): Line indicates the normal sequence

of steps and direction of flow in the scenario.

Flow line (dashed): Line indicates flow to

infrequently-used or conditional tasks in a

scenario. Line can also lead to documents involved

in the process flow.

Connects two tasks in a scenario process or a non-step event

Business Activity / Event: Identifies an action that either leads into or out of the scenario, or an outside Process that happens during the scenario

Does not correspond to a task step in the document

Unit Process: Identifies a task that is covered in a step-by-step manner in the scenario

Corresponds to a task step in the document

Process Reference: If the scenario references another scenario in total, put the scenario number and name here.


Sub-Process Reference: If the scenario references another scenario in part, put the scenario number, name, and the step numbers from that scenario here


Process Decision: Identifies a decision / branching point, signifying a choice to be made by the end user. Lines represent different choices emerging from different parts of the diamond.

Does not usually correspond to a task step in the document; Reflects a choice to be made after step execution

<F

unction>


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