How month end processes are impacted in Simple finance

[Former Member]

Hi,

I have read that with Simple finance you do not have to wait for month end to generate the financial reports that management requires.

So, how can the system provide information during the month if the Production orders, maintenance orders, AUCs are settled at the end of the period only?

Please throw some light on how this works.

Thanks in advance!

Regards,

Insom

[Former Member]

Hi, where did you read, are you sure you read "this words"?

I saw "soft closing".

What have been changed in period closing as per my point of view (sfin 2.0 up to 1511 sp)

1. Depreciation run, you can do it even if you get errors.

2. No ASKBN is required anymore - parallel areas are posted in real-time

3. Real time overheads calculation - means you don't need run this procedure during period end any more

4. Real time CO-PA analytics deriavation.

5. ML summurazation are not required anymore (calculates on the fly)

[former_member224768]

Hi Insom...

Nice moniker....

I suppose you can multiple soft close ...

For example i can run production order daily or weekly... there is no rule that says you must run it at monthend...

Because of dramatic improvement of performance, it makes execution of production order settlement process much much faster and does not hog up system resources.

Question is whether you want to go through the trouble of doing it or not...

Rgds

Siva

[Former Member]

Hi Siva,

Nice to see your comments. Option of running closing transactions daily or weekly is something which we have age old. nothings stops you to do any time.

Having Simple Finance will differentiate by showing these costs in financials without even waiting for closing of the orders for analysis.

Further as you said, it is faster than earlier with use of parallel execution using hana based technology.

Regards,

Santosh Varanasi

[Former Member]

Hi Satan,

By saying dont need to wait till month end, It is meaning that financial visibility is more transparent and more in real-time then earlier:

As per my understanding, lot of new reports have been introduced to look at real time  profitability segment reports reconciled with financial profit, real time cash position and also some reports helps to look at the expenses posted to different objects at a glance i.e., cost center, production order, internal order  etc.

This makes possible to get insight into various spending with different cost objects. For example there was no single report to show earlier to analyze expenses posted to different objects at a glance i.e., order, cost center or copa etc. which are available now.

All this is possible due to universal journal entry and Hana architecture.

However, you still have to perform all period end closing steps in order to capitalize inventory and other fixed assets as required.

Hope this helps.

Regards,

Santosh Varanasi