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Financial Closing: Week 5 Unit 2: Performing

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37 views

Financial Closing: Week 5 Unit 2: Performing

Uploaded by

Chadwick E Vanie
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Week 5 Unit 2: Performing

Financial Closing
Performing Financial Closing
Closing steps

Closing Steps for Closing Steps for Closing Closing Steps for Balance
Operational Postings and Adjusting Entries Carryforward Entries

010 015 020 080 990 991 001

010 – Operational 020 – Closing Entries 990 – Closing Balance


Postings 080 – Adjusting 991 – Profit and Loss Calculation of
015 – Late Operational Entries for Retained Earnings
Postings Income 001 – Opening Balance
Statement by
Nature of
Expense
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Performing Financial Closing
Closing steps for operational postings

Time of Data Entry

Period: 12 Period: 12

Source Documents Source Documents

Business Task

010 015 010


Operational Operational Operational
Postings Postings Postings
Journal Entries Journal Entries Journal Entries

Period 12 Period 1
Opening Period 12 for Closing Period 12 for
010 - Operational Postings 010 – Operational Postings
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Performing Financial Closing
Business tasks in the General Ledger work center

General Ledger

Financial and Management Accounting


Fixed Assets

Overview

Cash Flow Management


Errors when

Operational Business Areas


Work Payables,
generating
Review Balance
Carryforward (Test) Run
Review Reconciliation Run

Master Data journal entry Receivables,


vouchers and Cash
G/L Accounts
Journal Entries
Closing Cockpit
Inventory
Valuation
Periodic Tasks
Balance Carryforward
Statutory Reports Management
Reconciliation Accounting
Post Recurring Journal Entry Vouchers
Reports
Tax
Common Tasks
Management
New Journal Entry Voucher

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Performing Financial Closing
Closing-relevant tasks

General Ledger General Ledger


Inventory Valuation
Fixed Assets
Overview
Work Cost and Revenue
Master Data
Payables
G/L Accounts
Journal Entries Receivables
Closing Cockpit Tasks to be Payment Management
Closing-Relevant Tasks completed for
Closing Cockpit financial closing Liquidity Management
Source Documents
Periodic Tasks Travel and Expense
Reports Tax Management
Common Tasks
Managing My Area

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Performing Financial Closing
Business value

Prepare Valuate Report


Send
Run Other Perform Perform
Balance Post Post
Perform Period Foreign Depreciation Create Create Create
Confirmations Accruals Reserves
Physical Closing Currency Re- and Other Balance Schedule of Financial
to Suppliers and and
Inventory Preparations measurement Valuation Audit Trail Fixed Assets Statements
and Valuations Transfers
Run Runs
Customers

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Performing Financial Closing
Demo

SAP Business ByDesign System

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Performing Financial Closing
Summary

 Central and standardized closing procedure


 Reconciliation capabilities to proof the
consistency across different business areas
 Transparency by overview of the closing status
 Parallel accounting functionality

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Thank you

Contact information:

[email protected]
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