Additional Information
Balances on balance sheet accounts are carried forward to new fiscalyear.
P&L accounts are carried forward to retained earnings accounts.
The balance of P&L accounts are set to zero.
2. FI-AP/AR
3. FI-AM
F.07
AJRW
Calculates the balances carried forward for customers and vendors.
Asset values from the previous fiscal year are carried forward to the new fiscal
year.
4. FI-AM
ABST2 Account Reconciliation
5. FI-AM
AJAB
Execute
6. EC-CS
CXS1
Balance Carryforward
Balances on balance sheet accounts are carried forward to new fiscalyear.
P&L accounts are carried forward to retained earnings accounts.
The balance of P&L accounts are set to zero.
7. EC-PCA
2KES
Balance Carryforward
Balances on balance sheet accounts are carried forward to new fiscalyear.
P&L accounts are carried forward to retained earnings accounts.
The balance of P&L accounts are set to zero.
8. CO
OKEQ Maintain Plan Versions
9. CO-CCA
KSCF
Commitment Carryforward
10. CO-PS
CJCF
Carry Forward Commitment
11. CO-PS
12. CO-PC
CJCO Budget Carryforward
CK40N Costing Run
Fiscal Year End
Balance Carryforward
Fiscal Year Change
Selects asset summary records (table ANLC), summarizes the values on the
G/L account level, and writes the summarized value to table EWUFIAASUM.
Closes the annual values in Asset Accounting for the fiscal year. It blocks the
current fiscal year for further postings to assets.
Plan versions have fiscal year specific settings for the entire Controlling Area
and Profit Center Accounting.
Carry forward open commitment values from purchase requisistions and
purchase orders assigned to cost centers.
Carry forward open commitment values from purchase requisistions and
purchase orders assigned to WBS elements.
Carry forward remaining budgets from projects to new fiscal year.
Typically, Cost Accounting would calculate new standard cost estimates for the
new fiscal year. However, it likely is not feasible to do a costing run for an
August year-end closing. A costing run could be completed for the December
year-end closing.
2010
Functions are listed in chronological order
Description
1 Asset fiscal year change
Process balance carry
forward - receivable and
2 payable balances
Process Balance Carry
Forward - General Ledger
3 Accounts
Transa
ction
Code
Responsible Department
Dependencies
F.16
G/L
G/L
Reconciliation Program FI-AA
with FI-GL: List of Accounts
4 Showing Differences
ABST2 G/L - Fixed Asset Accountant F.16
Process Balance Carry
Forward - Profit Center
5 Accounting
Process Balance Carry
6 Forward - EC-CS
Year-End Closing for Asset
7 Accounting
2KES
CXS1
AJAB
G/L
GL and PCA need to be in balance
Comments
This function creates a new record for the following fiscal
year copying all of the assets and balances from the ending
fiscal year into the newly beginning fiscal year. This MUST
be done before asset postings are performed in the new
fiscal year.
Day 2
6pm
AJRW G/L - Fixed Asset Accountant
F.07
Due Date Completed
1
It is not necessary to wait until the period is completely shut
down. In fact, once the balances are carried forward the
system books additional adjustments to the closing fiscal
year in both the closing fiscal year and the new fiscal year.
1
It is not necessary to wait until the period is completely shut
down. In fact, once the balances are carried forward the
system books additional adjustments to the closing fiscal
year in both the closing fiscal year and the new fiscal year.
Run this as a test first. Download the balance sheet and
retained earnings carry forward details and compare them to
the backup for the balance sheet, income statement and
retained earnings accounts for accuracy before generating
the transfer. This can be run during the day.
This compares the ending balance in fixed assets by fixed
asset class to the ending balance in the general ledger asset
accounts. This must be run after F.16. Follow up with IT to
research any differences.
Day 2
6pm
1
G/L
April
Consolida
tion
This function will be the first function in the Data Monitor
during the consolidation of the first month following the year
end close.
G/L - Fixed Asset Accountant ABST2 & the fiscal year being closed is shut down COMPLETELY
WAIT
UNTIL
AFTER
THE
AUDIT IS
SIGNED
OFF
This function should be the absolute last thing run for fixed
assets for the fiscal year. BUT IT NEEDS TO BE DONE
BEFORE THE FISCAL YEAR FOR GL IS CLOSED. This
refers to the finalization of our financial statements. This
function would post any final unposted depreciation flips the
switch that prohibits additional postings in the asset
accounting subledger for the fiscal year in question.
Note regarding balance carry forwards: The balance carry forwards can be performed before or after the ending calendar date of the fiscal year. Any postings made to the prior fiscal year will
also automatically carry forward to the newly opened fiscal year. There is no reason to wait until the final close of the year to perform these functions.