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SAP Financial Closing Process

SAP Financial Closing Process has consolidates on the basis of the organizational models company, business area, and profit center and is optimally integrated with these systems.If the transaction applications and consolidation system reside in the same system and shopper, the information might be transferred on-line to the consolidation system.Additionally, knowledge will be transferred by periodic extract or rollup from non-SAP systems.

Integration of Master Data

Consolidation is centered on grouping together data from particular person components of an organization to form a unified whole. The goal of consolidation is to point out solely the external relationships, and to remove internal connections and processes.Against this background, two kinds of grasp data are of major significance:
  1. The organizational items themselves, together with their construction, and
  2. The monetary statement items, whose construction determines the content of the data.
The monetary assertion merchandise is the premise of entries, postings, and reporting within consolidation. Its use will not be merely confined to variables from financial statements, revenue statements, or appropriation of retained earnings which are relevant to financial accounting. Statistical data and key figures can be managed utilizing financial statement items. In the Consolidation system,their properties attributes are decided on the idea of the FS item type, where-utilized indicator,FS item class, debit/credit score signal, and breakdown category.A subitem is an elective further account assignment. For instance, financial assertion objects for mounted property might should be moreover assigned with transaction types so that all changes in the financial statement items are proven from the opening to the closing balance.

Preparation in FI

The data supply for EC-CS is the FI normal ledger, and the corporate code is the organizational unit.The FI company code should be assigned to a chart of accounts and a company. EC-CS, the consolidation models are generated from the enterprise units (companies and/or enterprise areas).In accounting transactions between enterprise units within the enterprise, the relevant buying and selling companion unit have to be saved within the document. That is crucial for the next interunit elimination.Retailer the relevant buying and selling companions in the grasp data for affiliated prospects and vendors.To transfer the info from the transaction sender system to the receiver system, you will make assignments tailored to the receiver system.These will be assignments which would possibly be equally binding for all consolidation varieties, such as the project of an organization code to a company.If desired, business space stability sheets can be activated for each firm code in FI.You may subdivide a company code into enterprise areas to generate inside particular person monetary statements utilizing freely selected areas of responsibility inside a company.In enterprise area consolidation, a consolidation business area have to be assigned from the receiver system.If desired, you'll have the ability to create useful areas in FI in order that the income statement may be grouped according to the necessities of cost of gross sales accounting.

Real Time Updates

If you occur to use the realtime replace methodology, every accounting transaction that affects the final ledger is updated on the same time in FI and in the totals data of the consolidation ledger.When the information is transferred, the system determines how every data document needs to be updated within the Consolidation system. It does this by trying at the definition and configuration of the info streams. Instance - the system derives the appropriate ledger(s) from the grasp data outlined for a consolidation group.The fiscal yr variant is derived for each ledger from the master data defined for the consolidation groups.A doc is just written to a ledger if the ledger is assigned to all the consolidation models concerned and all have the same fiscal year variant.You possibly can specify in the ledger whether you wish to maintain journal entry information in the journal entry desk in addition to totals records.

The accounting transactions that affect the final ledger are up to date in the transaction figures desk and within the totals records of the consolidation staging ledger (09) at the similar time in the sender system.Data is extracted from the consolidation staging ledger at common intervals. The EC-CS element comprises a program for uploading, converting and updating the extract.Knowledge is transferred from a file.Ideally, the ledger foreign money of ledger 09 ought to be the same within the sender and receiver systems. The sender system solely sends consolidation values to the receiver system, not ledger forex details.Nonetheless if the currencies within the sender and receiver programs are different, you could have to execute the foreign money translation task within the data monitor (receiver system).

Financial Statement Version

To be able to transfer knowledge through periodic extract from Financial Accounting into Consolidation, it's necessary to make use of a financial statement version whose monetary statement items correspond to the consolidation items (e.g., property: 0010000000).Within the financial assertion version, outline numeric item numbers using main zeroes.Quantity assignments are made manually.The SAP standard delivery system features a monetary statement version for the group (INT) which corresponds to the instance above.The corporate dad or mum determines the FS chart of accounts; that is maintained in Customizing.

Roll ups

In the usual SAP System, a rollup is a software for transferring knowledge data from a sender table to a receiver table.Usually talking, the sender and receiver tables are structured differently. Which means that guidelines specifying how the person fields are to be transferred need to be defined.The standard system already comprises guidelines for transferring information to EC-CS. Which means a rollup is a consumer-friendly option for transferring knowledge, particularly from Profit Middle Accounting.

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