Year end transactions

[Former Member]

Hi all,

Please do let me know what are the year end transactions have to be carried out in system, it might be end user transactions or customization transactions as 2007 financial year will be ending in 10 days.

[Former Member]

hi,

A fiscal year is divided into posting periods. Each posting period is defined by a start and a finish date. Before you can post documents, you must define posting periods, which in turn define the fiscal year.

In addition to the posting periods, you can also define special periods for year-end closing.

In General Ledger Accounting, a fiscal year can have a maximum of twelve posting periods and four special periods. You can define up to 366 posting periods in the Special Purpose Ledger.

Use

In order to assign business transactions to different time periods, you must define a fiscal year with posting periods. Defining the fiscal year is obligatory.

You define your fiscal year as fiscal year variants which you then assign to your company code. One fiscal year variant can be used by several company codes.

You have the following options for defining fiscal year variants:

Fiscal year same as calendar year

Fiscal year differs from calendar year (non-calendar fiscal year). The posting periods can also be different to the calendar months.

You define your fiscal year variants in Customizing for Financial Accounting as follows:

Financial Accounting Global Settings - Fiscal Year - Maintain Fiscal Year Variant (Maintain Shortened Fiscal Year)

Integration

When you enter a posting, the system automatically determines the posting period.

In the general ledger, the system saves the transaction figures for all accounts for each posting period and each special period separately according to debits and credits. In the Special Purpose Ledger component (FI-SL), you can save the transaction figures as a balance.

regards,

Siddharth.

[Lakshmipathi]

Dear gundurao

As the financial year changes, we need to look into certain areas. They are

1) The most important is excise number range assignment for the succeeding financial year

2) Whatever open deliveries are there, either do post goods or cancel to set right the inventory value

3) To release all billing documents which are all having posting block to set right the sales value

thanks

G. Lakshmipathi