SAP Financials and General Ledger Overview

Presented by Shivesh Sharma Associate Partner, SAP Stadium Practice St Louis, MO

shivesh@us.ibm.com Cell: 314-560-0355

2013 IBM Corporation

Topics Covered
During this session we will cover Financials Overview

General Ledger Overview

Workshop Objectives (Client Facing)

Review in detail the template design including key concepts, process flows and SAP demonstrations Identify and capture potential gaps (a gap represents a compelling business reason to deviate from the template design, e.g., a legal or statutory requirement) Review relevant master data objects that support the presented process

Topics Covered
During this session we will cover Financials Overview

General Ledger Overview

SAP Financials Overview

Financial & Operational Performance Management Manage Risk & Compliance Finance Shared-Services

Accelerated Financial Close Local Close Group Close

SAP enables end-to-end financial management linking accounting, performance management, strategy and risk management to improve visibility, automation and control; resulting in more time to focus on strategic functions of finance
Complete support for: Financial and operational performance management

Manage Treasury and Financial Risk Customer to Cash Invoice to Pay

Risk and compliance management

Financial shared-services Accelerated financial closes Treasury and financial risk management

Consume to Cash for High Volume Business

Customer-to-cash processes
Invoice-to-pay processes
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The SAP BusinessObjects Portfolio

Enabling Closed-Loop Strategy to Execution
Enterprise Performance Management
Strategy Management Profitability and Cost Management Planning, Budgeting, and Forecasting Consolidation

Governance, Risk, and Compliance

Risk Management Access Control Global Trade Services Sustainability Performance Management

Process Control Environment, Health, and Safety Management

Disclosure Management

Business Intelligence
Reporting Interactive Analysis Data Exploration

Enterprise Information Management

Data Integration Master Data Management Data Quality Management Metadata Management

Dashboards and Visualization

Advanced Analytics

Text Analysis

Financial Supply Chain Management

Receivables and Payables Processes

Customer to Cash Process

Accounts Receivable

Billing

E-Invoicing
Customer Self-Service

Credit Evaluation and Management

Dispute Resolution

Collections Management

Customer Care

Create sales order Present invoice electronically

Check credit

Create invoice pool

Assign credit limit Present due item Create dispute case Release blocked sales orders Prioritize overdue receivables

Process customer service inquiry regarding invoice

Create due item

Process incoming payment

Receive electronic customer payment

Resolve dispute case

Collect overdue receivables

Treasury and Financial Risk Management

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Managerial Accounting

Managerial Accounting

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Cost Center Standard Hierarchy

Cost center hierarchies are created based on cost management responsibility within the organization
When creating a cost center, it must be assigned to a node of the standard hierarchy

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Cost Center Flow

Support Cost Centers

Support Cost Centers

Assessment

Material Overhead Cost Centers

Assessment

Production Cost Centers

Production Overhead Cost Centers

Activity Rate Surcharge

I&E

Process Order Variances

Process Order

Surcharge

B/S
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Inventory at Standard

Profit Center Standard Hierarchy

Tree structure that contains all the profit centers and profit center groups in one controlling area When creating a profit center, it must be assigned to a node of the standard hierarchy

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Internal Orders: Process Flow

During the life of an internal order, costs are planned, posted and settled. The order process flow consists of four phases:
Create Orders/ Groups Plan Order Actual Postings Settle Order Reporting/ Inquiry

Internal orders are used to monitor internal tasks whose cost are to be settled

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Profitability Analysis Data Flow

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Reporting Dimensions in Profitability Analysis

Product Customer Region Sales office

Business Unit

Reporting Dimensions
Sales Quantity Sales Revenue Customer discount Sales commission Direct sales costs Net revenue Direct material costs Variable production costs Contribution margin I Indirect overhead Fixed production costs Contribution margin II Variances Contribution margin III Operating profit
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Determine and analyze the profitability of market segments

Revenue Cost

Product Costing Value Flow

MM
Material Inventory

1) Material issue
PP
Production Cost Centres Confirmation

Cost Object Material Costs Production Costs 7) Process order variance Overhead Costs xx Total Costs Credits
CO
Profitablity Analysis

2) Direct postings CO
Injection Moulding

3) Activity allocation

FI

Direct postings Assembly

4) Goods receipt

Painting

Overhead Cost Centres

5) Overhead allocation 6) WIP calculation

CO

Report in PA

MM

Finished Goods Inventroy

Production Maintenance

Sales revenue

Sales & Marketing

8 ) Cost Centre assessment 9 ) Delivery 10 ) Billing

Work In Process

Cost of goods sold Manufacturing variance Sales & Marketing OH Profit

SD

Sales Order

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Business Object Dashboards

Preconfigured ERP and BI integration combined with best practices functionality
Sales Services Purchasing Manufacturing Financials

Customer Fact Sheet List of Sales Orders Billing Documents Customer Analysis Sales Organization Analysis Sales Volume Analysis Credit Memo Analysis Sales Dashboard Order Pipeline Status Dashboard

Personnel Location Analysis Personnel Travel Expense Analysis Travel Behavior

Purchasing Group Analysis Vendor Analysis Vendor Fact Sheet Vendor Comparison

Material Analysis
Stock Overview Work Center Analysis Dashboard

General Ledger Statement Financial Statements

Accounts Payables Open Items

Cost Center Analysis Orders Cost Analysis Controlling Dashboard

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Project Management: From Idea to Execution

Continuous Product and Service Innovation connects processes across departments to drive competitive differentiation and profitable growth.
Leadership Team

Marketing

Research & Development Operations

Product Management

Strategy and Planning Product / Service Mgmt

Product Intelligence Strategy Management

Managing Innovation

Program and Project Management

Portfolio Management

Idea Management

Concept Development

Project Portfolio Planning

Resource Management

Project Profitability Analysis

Supply / Mfg / Dist Marketing / Sales / Support Finance / HR / Legal Customers / Partners 20
Initiative Planning
Process Management (DFM)

Project Execution

Project Accounting

Market Launch Management

Governance Risk and Compliance

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Topics Covered
During this session we will cover Financials Overview

General Ledger Overview

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General Ledger Process Overview

Financial Accounting

General Ledger

Master Data

Transaction Processing

Account Analysis & Reconciliation

Periodic Processing

Reporting

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SAP General Ledger Structure

SAP breaks its coding block up into independent master data objects:
Optional information for managerial reporting purposes

User Defined

Required information for legal reporting purposes

Company

Account

Cost Ctr

(Dept,Region,etc)

Fixed Asset

Project

Etc.

General Ledger

Operational Data

Dynamic Code Block is built as the Transaction is Saved

Benefits: Easier master data maintenance Independent validation of data objects New data objects can be automatically added whenever needed without need for programming/report changes

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Master Data: Chart of Accounts

Provides a framework for the recording of values to ensure an orderly rendering of accounting data One or more company codes can be assigned to a single COA

Used in both Financial Accounting and Controlling

COA data include the:

GL account name and number Account type (Profit and loss or balance sheet account indicator) Account group Chart Reconciliation Account (Sub ledgers) Field Status Group (posting rules)

of Accounts

Company Code 1
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Company Code 2

GL Account Name and Number

GL Account Name

Uses a maximum of 25 characters

GL Account Number

Uses a 6-digit numerical account number: Assets 1xxxxx Liabilities 2xxxxx Equity 3xxxxx Revenue 4xxxxx COGS 5xxxxx Operating Expenses 6xxxxx Other Income and Expenses 7xxxxx
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G/L Master Records - Two Levels

Create for Company Chart of Accounts Level Chart of Accounts Account Number and Name Balance Sheet Acct or P&L Statement Acct Account Group A G/L Account must exist at the CoA level before it can be created for Company Codes Controls Codes as needed Company Code Level Currency Tax Category Line Item Display

Layout

Sort Key

Field Status Group

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GL Account Master Record

Chart of accounts segment

Description: Inventory Finished goods

Bal. sheet acct: Inc. stmnt. acct:
(Balance c/fwd)

Acct number: 119430

General Ledger Balance P&L P&L Balance T T T T T T T T T T T T T T T T T T T T T T T T T T T T T T

Currency Tax-related

Item management Posting control...

Company code segment

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GL Account Maintenance
GL account fields can be changed in one of three ways:
In the COA only In the company code only Centrally (both in the COA and the company code simultaneously)

GL accounts can be blocked for creation or posting

GL accounts can be marked for deletion only if postings do not exist

Most fields in the GL master record can be changed

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Finance Structure
Cost Centers

Operating Concern

SXL Profitability Analysis

Controlling area Profit Centers Company code 1

SXL Internal Reporting

Company code 2

Other Legal Entities

Segment

Sales Organization1000 Distribution Channel 10 Division 10

Sales Organization Distribution Channel Division

Plant

Plant

Plant

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Profit Center

PROFIT CENTER Definition A Profit Center is an entity in Controlling that represents an area of responsibility within a company. It is typically a unit which monitors both costs and revenues, and behaves as an independent operating unit for which a separate operating statement and balance sheet or balance sheet line items can be calculated. Typical Usage Cost centers and other cost objects (materials, orders, assets) are linked to a corresponding profit center. Division, Sub-Division, Sub-Product Line can be defined as profit Centers. Flexibility for Change Profit Centers, Profit Center Groups can be added but can not be removed after transactions have been posted to them. Standard / Alternate hierarchies are available.

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Cost Center

Definition

A Cost Center is an entity in Controlling that represents an area of responsibility within a company. It is typically a unit which monitors costs
Typical Usage Cost centers can be set up based on functional requirements, allocation criteria, activities or services provided, location and/or area of responsibility. An entity that consumes, collects, allocates, controls, reports and plans costs.

Cost Centers are used to represent a combination of the lowest level at which costs are required to be managed or planned. It contains both products and services and physical location
dimensions.

Flexibility for Change

Cost Centers, Cost Center Groups can be added but can not be removed after transactions have been posted to them. Cost Centers can be assigned to multiple cost center groups / hierarchies.
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Segment

Cost Centers

Controlling area

Profit Centers

Company code 306

Company code 398

DEFINITION Segment is the organization entity that represents a significant portion of SXLs activity. Technically it represents a group of Profit Centers. Typical Usage A business segment represents a partial activity of the company that delivers a product or a service with risks and revenues that differs from those of other business segments. A geographic segment informs about risks and revenues that differs from other geographic segments in terms of economic, political ... etc reasons. According to US-GAAP a segment is a part of the company which leads to expenses and revenues and which underlies to its own profitability and allocation of resources. IAS and US-GAAP: A segment has to be reported if external revenues achieve 10% of the total revenues.

Segment

A Segment represents a significant Business Division or Product Line to report per SEC rules.
Flexibility for Change A Segment can not be removed after financial postings have taken place.

New Segment can be added at any time.

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Segment
Segment field can be used to produce financial statements in the GL by external reporting segment Ensure Cost Object Profit Center Segment roll-up is designed in advance

Cost Objects
Cost Centers WBS Elements Internal Orders

Profit Center

Segment

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Deriving a Segment

The ERP system enables you to assign a segment to the master data of the profit center
The segment is posted to automatically when the profit center is posted to.
There is no dummy segment posting, as in the profit center logic; if the profit center does not have a segment, there is no segment account assignment either

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General Ledger Process Overview

Financial Accounting

General Ledger

Master Data

Transaction Processing

Account Analysis & Reconciliation

Periodic Processing

Reporting

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Document Posting: Activity Flow

Create G/L account posting

Create G/L Posting Fast Entry

Post Manual Journal

Holding an incomplete document Simulate (Enough Info to Complete Posting?) No Create/Display a Parked Document

Yes Posted Entry

Post/Release a Parked Document

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Document posting to ledger group

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Balanced Books for Any Dimension: Entry View

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Balanced Books for Any Dimension: General Ledger View

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Reconciliation Accounts Reconciliation Accounts

Reconciliation Accounts
Sub-ledger Controlling Accounts Receivable General Ledger

Balance Sheet Accounts

Accounts Payable Income Statement Accounts

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SAP Document Principle

In SAP, a journal entry is known as a document

Document Principle: Each transaction in SAP is stored in the form of a document and has a unique number

Documents are the following: Evidence of business activity (audit trail) Retained as a coherent unit that can be displayed at any time until archived

Documents may be accessed and viewed by many users

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Accounting Documents (FB03)

Document No: 123456

Header

Date: 03-13-2007 Company Code: 0100 Currency: US$

Debit Credit

1,000,000 800,000 200,000 Total:

Line items

1,000,000 1,000,000

Each document consists of two segments: header and line items After posting it receives a unique document number Will use SAPs standard document types; the system assigns the document numbers automatically

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SAP Document Structure

Document Date: Posting Date: Document Type: 03/01/2009 03/25/2009 SA

Document Header
Information relating to all line items Document date Document type Document number Currency

Document Number:
Currency:

1300000
USD

Document Items
Posting (Credit) Account Amount 100001 115.50

(Debit)

111000

115.50

Information relating to individual line items Posting key Account (G/L or Sub-ledger) Price/Tax

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Document Header Fields

Company Code: legal entity of document Document Date: date the transaction occurred

Posting Date: date the transaction is posted to (affects the financial books)
Currency Code: currency code of document

Translation Rate: exchange rate for transactional currency

Entry Date (automatic): more or less equal to the posting date Period: posting period based on the posting date

Document Type: document types are different transaction types [e.g. Journal (SA), Vendor Invoice (KR), Vendor Payment (KZ)]
Additional information: Reference Short text
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Types of Documents
Standard SAP supports the following type of transactions: Journal Entry (JE) Processing Foreign Currency Documents Parked Documents Posting with Reference Reversing / Canceling Documents Open Item Clearing

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Posting a Document

Document entered correctly

Posting functions

Simulate the document - press the Simulate button: Or post it immediately - press Save button (F11)

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Manual Journal Entry Process

Journal entries that are not ready to be posted can also be parked or held
Parked Journal Entry

Manual Journal Entry

Create Journal Entry

Posted Journal Entry Held Journal Entry

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Holding vs. Parking Documents

Holding a Document Saves only data entered; user can complete doc. entry at a later time User assigns doc. number Not visible in reports Does not update G/L until posting Does not involve extensive checks Document is available for editing only by the user who created it

Parking a Document
Especially useful if review is required System assigned number (according to document type) Visible in reports Does not update G/L until posting Does not involve extensive checks Document is available for editing by many users

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Processing of Parked Documents

Choose company code

The parked document may be:

Posted Edited Saved as completed Deleted

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Open Item Clearing

January Februar y

Open items represent transactions that are incomplete The balance of open item managed accounts are the reconciliation items
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You can only clear open items for accounts that are open item managed

Reversal of Clearing

Display cleared items

Reversal of clearing

Reversal of documents that were cleared before is not possible First the clearing operation must be reset
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Reverse G/L Document

All journal entries entered into SAP are permanently stored, however, SAP allows the user to reverse previously posted GL documents GL entry reversal may be used to reverse accruals, estimates, errors or temporary adjustments and reclassifications A reversed GL doc. creates a new document with opposite postings but no information is deleted It is not possible to re-reverse GL documents that have already been reversed It is possible to reverse to the same period or a future period

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Reverse G/L Document

Reversal transactions are usually performed to make corrections or reverse an accrual Reversing a document clears the open items it created A document can only be reversed if it: Contains no cleared items Contains only Customer, Vendor, and G/L account items Was posted with Financial Accounting, and Has entered values (such as business area, cost center, and tax code) that are still valid If a line item from a source document was cleared, reversal can only take place after the clearing is undone

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Reverse G/L Document

Document entered incorrectly

Balance sheet Assets

Liabilities
Shared equity

Document corrected by Reversal:

Reverse with a standard reversal posting

Document re-entered correctly

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Mass Reversal of Documents

Mass Reversal Procedure

Many documents may be reversed at the same time Process may be scheduled to be performed in the background

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Account Determination

When a goods movement (inventory receipt, inventory withdrawal, variances, etc.) is entered in SAP, account postings are made automatically. These account postings occur as a result of a customizing table, the Automatic Account Determination, which is set in Customizing.

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Goods Movement - Movement Types

All the transactions performed in inventory management are handled using movement types. Movement types are identified by a three character id. SAP comes with a set of pre-defined movement types.

Additional movement types can be created if required.

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Goods Movement
Depending on the material type and/or the movement type there may be none, one or several accounting documents created from a goods movement.

Material Document

MVT. Type

Accounting Document
---- ------------------ ------ -----------

Cost Control Document

---- --------+ ---------- ------ -----------

Profit Center Document

---- --------+ ---------- ------ -----------

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Valuation Class
The Valuation Class is an entry in the accounting view of the material master.
It can be used in Automatic Account Determination to specify different accounts for different types of material. More than one valuation class can be defined for a material type (e.g. there may be more than one valuation class for raw materials).

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Valuation Class Valuation Classes:

3000: Raw Materials 7900: Semi-finished 7920: Finished

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General Account Modifier The General Account Modifier provides additional detail about what is happening to the material.
General Account Modifier AUF Usage Goods Receipt From Production Order post to production settlement Goods Receipt Into Initial Stock only used once for posting inventory off-set for initial stock data load Goods Issue To Sales - post to Cost of Goods Sold (COGS) Goods Issue to Consumption - post to material consumption (i.e., expense>revenue) (e.g., goods issue to job or production order)

BSA

VAX VBR

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Transaction Keys
BSX: Inventory Postings

GBB: Offsetting Entry for Inventory Postings

DIF: Materials Management Small Differences PRD: Cost (price) differences WRX: Goods receipt / inv. receipt clearing acct

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Automatic Account Determination

CHFS BSX 00AP 3000 Account 200000

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General Ledger Process Overview

Financial Accounting

General Ledger

Master Data

Transactional Processing

Account Analysis & Reconciliatio n

Periodic Processing

Reporting

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Balance Display
In Balance Display reports, accounts are analyzed on a periodic basis Provides general and detailed information on the account for the current period and is a prerequisite to the account clearing process It is possible to drill down to line items from the period balances

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Account Balance and Line Items

Account balance

Account Balance Display

Opening Balance (is the Carry-Forward balance from previous year) Totals of all transactions for each posting period broken down for Debits and Credits

From these figures the system calculates the following for the account
balance function:
Balance per Posting Period Accumulated balance for the account Display original posting document by double-clicking line items
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Account Balance and Line Items

Line items

Line items can be displayed on G/L accounts which are managed with
line item display
Line items are displayed on-line Line items can be totaled and sorted according to user requirements Additional fields can be added to the Line Item display screen Alternative custom defined line layouts can be used
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General Ledger Process Overview

Financial Accounting

General Ledger

Master Data

Transactional Processing

Account Analysis & Reconciliatio n

Periodic Processing

Reporting

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Posting Documents with Reference

If a user frequently posts the same documents with the same data, they can save time and avoid errors by using reference techniques for document entry A sample document or existing document is a template for a reference Existing SA Sample Document technique Document 92 000 00044 An account assignment template is an example of a reference technique 13 000 00031 ______ A recurring ______ document is a template for a reference technique ______ ______ ______ ______ ______ ______

or

Reference _______________ Doc. Number ?

Control Sequence____________ Generate Reverse Posting Enter G/L Account Items Do Not Propose Amounts Display Line Items

Document 13 000 00032 ______ ______ ______ ______

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Reference Documents
130000031 (Reference Document):
Header: Line Items:
PK 40 50 50 Account 123000 345560 907902 Amount 5000 2000 3000

01/03/2003

Comp. Code: 5200

1300000032
Line Items:
PK 40 50 50 Account 123000 345560 907902 Amount 5000 2000 3000

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Reference documents are either accounting documents or sample documents that are used as a reference to post a new accounting document

Account Assignment Model

To create an account assignment template, complete the Item Overview section of the G/L Entry screen with the following information:

G/L accounts Debit/credit Amount

Follow the menu path Edit Create account assignment template To access the template, select the appropriate option in the tree structure in the G/L posting screen

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Account Assignment Model

An account assignment template: Is a pre-defined pattern for document entry Can contain any number of line items and may include amounts Is more flexible than recurring documents since it permits the user to add more line items and to change all the pre-assigned fields Allows the user to enter items in list form using screen templates that are userdefined

Amount

Account Assignment Model

Posting Key

G/L Account

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Account Assignment Model: Document Entry

Account Assignment Template characteristics: Flexible All fields can be changed Line items can be added More than one template can be used at a time Template does not have to be complete for the entire document entry Named by the user

Account Assignment Template Identification Currency Company Code Account Line item 1 Line item 2 XXXXX XXXXX PtKy 40 50 Amount 3000 3000

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Recurring Entries
A Recurring Entry is another example of a reference technique Recurring entries should: Be used for transactions that impact the same G/L accounts every month for the same amount and same posting keys Post exactly the same document information each time Are not posted to the system at its creation, but stored as a transaction to be posted at specific intervals Can be posted during the month-end closing process or during periodic processing

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Creating Recurring Entries

To create a recurring entry, the following information must be provided: Account numbers Posting frequency Amounts Posting keys (debit / credit) First run, last run, and run date

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Executing Recurring Entries

To create postings from recurring entries: The recurring document must first be created and then posted in the system through batch processing The calculation period must be defined with a date where each entry is posted on the date that is specified within the set range Batch Input Session (BIS) is used to execute SAP transactions in a batch mode to enter data into the system BIS is not limited to just recurring entry transaction postings

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List of Known Reports

GL Account Line Item Display GL Account Balances Display Financial Statement Version: Balance Sheet and P&L

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Financial Report Tree

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Financial Statements
Financial Statement Version: Balance Sheet and P&L Financial Statements: Contain the financial information of an organization The Balance Sheet lists the assets, liabilities and owners equity of an entity on a specific date, usually at the end of a month or a year The Income Statement presents a summary of the revenue earned and expenditures incurred by an organization over a specific period of time

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Financial Statements and Tax Reporting

Financial Statement Version BP01

Assets
Fixed Assets Current Assets Receivables Checks/Banks Accrued Income

Liabilities
Short Term Payables Other Payables

P&L
Revenues Expenses

Appendix

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Financial Statement Version (COA Hierarchy)

Financial statement version contains:
Roll-up structure and grouping of GL accounts Listing of GL accounts in each group

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View Financial Statement

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Financial Statement

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Financial Closing Operations

Purpose: Closing operations are periodic tasks and can be subdivided in FI as follows: - Month-end closing

- Year-end closing
The closing operations component helps prepare and execute the activities required for month-end and year-end closing For this purpose, the system provides a series of standard reports that you can be used to analyze and evaluate all account balances The system helps carry out the following activities: - Accruals/deferrals of expenses and revenues - Creating financial statements (Balance Sheet and P&L Statement) - Carry-forward of balances

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Sub-ledger Periodic Processing

Asset Management:
- AFAB, perform the planned depreciation run; repeat & re-start GR/IR clearing account; clarify any differences and correct them if necessary (SAP-LO/MM)

Inventory:
- Clear the GR/IR clearing account (SAP-FI) - Prerequisite: Accounts have already been maintained by MM - MM period closing program (SAP-LO/MM)

Accounts Receivable:
- Check whether all billing documents have been posted (SAP-LO/SD) - Valuate the foreign currency for open items according to FASB 52 (SAP-FI), see also Payables - Valuate foreign currency for balances according to FASB 52 (SAP-FI)

Accounts Payable:
- Check whether all the LIV Invoices have been posted (SAP-LO/MM) - Valuate foreign currency for balances according to FASB 52 (SAP-FI)

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Month End Close

Open New Period

Close Period

Ensure completion of operational closing: running closing programs

Perform Settlements, Allocations, and Distributions

Perform Month-End closing journal entries

Reconcile GR/IR Reclassify A/R Credit and A/P Balances

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Year-End Closing At Year-End:

Perform month-end closing for remaining posting periods Carry-forward GL, AR, and AP balances Change fiscal year in Fixed Assets Close fiscal year in Fixed Assets Maintain number ranges if needed Maintain new fiscal calendar

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Day End Closing Process Flow Diagram

Updating Evaluation Reporting

General Ledger Accountant

Event

Update Exchange Rates

Display Compact Document Journal

Finance Manager

Process Decision

Gaps in Document Number Assignment

Invoice Numbers Allocated Twice

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Month End Closing Process Flow Diagram

Event
Updating Evaluation Posting Clearing Reporting

General Ledger Accountant

Update Exchange Rates

Close Previous Accounting Period

Automatic Clearing

Display Document Journal

Foreign Currency Revaluation

Open and Close Posting Periods

Automatic Clearing of GR/IR Account Special Process

Comparative Analysis

Post Adjustment Entries

Finance Manager (U.S.)

Record of Sales and Use Taxes Report

Accounts Payable Manager Finance Manager

Gaps in Document Number Assignment Invoice Numbers Allocated Twice

Enter Recurring Entries

Run Batch Input Session Comparison Documents / Transaction Figures

Financial Statement

Post Recurring Entries

Post Tax Payable

Manual Clearing

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Year End Closing Process Flow Diagram

Event
Updating Reporting

Finance Manager/US

Process Decision

Create Factory Calendar for New Year

Print 1099 MISC Forms

Accountant General Ledger Manager Finance

Carry Forward AP/ AR Balances

Carry Forward GL Balances

Final Close and Release Financial Reporting

Close Previous Accounting Period

Display Document Journal

Accounts Receivable Accountant

Balance Confirmation Receivable

Accounts Payable Accountant

Balance Confirmation Payable

GL = General Ledger

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Month End Closing (Projects) Process Flow Diagram

Event
Period End

Warehouse Accounts Clerk Payable

Record Purchase-Order Related AP Transactions

Release Blocked Invoices

Ensure Inventory Movements are Complete Goods Issue

General Ledger Accountant

Open New MM Period

Project Manager

Calculation of Work In Process (WIP)

Actual Assessment to CO-PA

Close Completed Projects (Business View)

Enterprise Controller

Run Profitability Report

End Process

PO = Purchase Order; AP = Advance Payment; MM = Mass Maintenance

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Thank you for attending!

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