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Year end closing

Year end closing

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Published by naimdelhi
Year end closing
Year end closing

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Published by: naimdelhi on Jan 29, 2013
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01/08/2014

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Year-end closing in Italy
 
1(36)RFSUMB00 16.3.2008
 ____________________________________________________________________________________www.siliconlabs.fi
ico+
YEAR-END CLOSING IN ITALY
RFSUMB00
This document describes how to make the fiscal year-end postings in Italy using theprogram RFSUMB00.Original version 7.1.2008Updated 11.1.2008 Balance carry forwardFinal version 15.3.2008 After production run
 
 
Year-end closing in Italy
 
2(36)RFSUMB00 16.3.2008
 ____________________________________________________________________________________www.siliconlabs.fi
ico+
CONTENTS
1
 
YEAR END CLOSING ACCORDING TO SAP............................................................................................................3
 
1.1
 
B
ALANCE CARRY FORWARD PROGRAMS
.....................................................................................................................3
 
1.2
 
Y
EAR
-
END CLOSING POSTINGS PROGRAM
RFSUMB00..............................................................................................3
 
1.3
 
C
OUNTRY VERSIONS FOR
RFSUMB00.......................................................................................................................4
 
1.4
 
RFSUMB00
FOR
I
TALY
..............................................................................................................................................4
 
1.5
 
P
OSTINGS CREATED IN PHASE
1
 
-
PROFIT AND LOSS ACCOUNT CLOSING
.....................................................................5
 
1.6
 
P
OSTINGS CREATED PHASE
2
 
-
BALANCE SHEET ACCOUNT CLOSING AND OPENING
....................................................6
 
2
 
YEAR-END POSTING PROGRAM RFSUM00............................................................................................................7
 
2.1
 
T
RANSACTIONS
...........................................................................................................................................................7
 
2.2
 
P
REPARATIONS
............................................................................................................................................................7
 
2.3
 
R
EPORT PARAMETERS
P&L
ACCOUNTS
PHASE
1......................................................................................................8
 
2.3.1
 
Selections...............................................................................................................................................................9
 
2.3.2
 
 Accounts ..............................................................................................................................................................11
 
2.3.3
 
Parameters for closing and opening postings.....................................................................................................14
 
2.3.4
 
Other parameters ................................................................................................................................................15
 
2.4
 
R
EPORT PARAMETERS FOR STEP
2
 
BS
ACCOUNTS
.....................................................................................................16
 
2.5
 
B
USINESS AREAS
.......................................................................................................................................................18
 
2.6
 
FI-
AND
CO-
VALIDATIONS
........................................................................................................................................19
 
3
 
RECONCILIATION ACCOUNTS................................................................................................................................19
 
3.1
 
D
UMMY CUSTOMERS AND VENDORS
.........................................................................................................................19
 
3.2
 
A
CCOUNT GROUPS
....................................................................................................................................................20
 
3.3
 
T
ABLE
TABKT.........................................................................................................................................................22
 
4
 
PRODUCTIVE RUN.......................................................................................................................................................24
 
4.1
 
C
HECKS
.....................................................................................................................................................................24
 
4.2
 
B
ATCH INPUT SESSION
..............................................................................................................................................24
 
4.3
 
P
OSTINGS TO PROFIT AND LOSS ACCOUNTS
...............................................................................................................25
 
4.4
 
P
OSTING TO
BS
ACCOUNTS
.......................................................................................................................................27
 
4.5
 
R
UN THE BATCH
........................................................................................................................................................29
 
4.6
 
E
RRORS IN BATCH
.....................................................................................................................................................29
 
5
 
CUSTOMER AND VENDOR BALANCES.................................................................................................................30
 
6
 
CONTROLLER’S COMMENTS..................................................................................................................................31
 
7
 
APPENDIX.......................................................................................................................................................................31
 
7.1
 
B
ATCH INPUT ABORTS
...............................................................................................................................................31
 
8
 
NOTES..............................................................................................................................................................................34
 
9
 
LINKS TO NET DISCUSSION ABOUT THIS SUBJECT........................................................................................36
 
 
 
Year-end closing in Italy
 
3(36)RFSUMB00 16.3.2008
 ____________________________________________________________________________________www.siliconlabs.fi
ico+
1
 
Year end closing according to SAP
1.1
 
Balance carry forward programs
According to SAP the execution of the balance carry forward programs represents the closure of theyear. The G/L balance carry forward program does not make any postings. It calculates the net operatingprofit to the Retained Earnings Account and transfers the balances to period 0 of the next fiscal year.For countries that need to do closing and opening postings (hard closure) SAP provides the program
RFSUMB00
(or if the new General Ledger is in use program
FAGL_YEC_POSTINGS).
 
1.2
 
Year-end closing postings program RFSUMB00
There is not much guidance for this procedure. This document describes my personal experiences of RFSUMB00. When I started my first problem was that I did not know whether this program was asubstitute or a supplement for balance carry forward. I found the answer form SAP note 402917‘Balance carry forward is not correct’.
“After the regular balance carry forward of the general ledger (F.16), postings are made to a closing account with
RFSUMB00
in the closed fiscal year, which causes the actual G/L accounts in this fiscal year to balance to zero. At thesame time, the identical amount is posted as an opening posting into the new fiscal year in a period selected inRFSUMB00. The postings are carried out via batch input. You can choose amongst the country versions for Italy,Slovakia or Turkey. The country versions comply with the legal requirements of the respective countries. The use of RFSUMB00 requires an extensive Customizing to be able to create the correct postings. In this context, it is essential tocustomize dummy vendors and dummy customers to enable the balance carry forward of the reconciliation accounts.Italy, for example, requires a separate document type for these postings, so that these postings are visible in thedocument journal. In Italy, the closing entry must be made with document and posting date equalling the last day of thefiscal year to be closed, while the opening entry must correspond to the 1st day of the new fiscal year or exactly to thedate and the posting period of the balance sheet closure (this is generally March or April). RFSUMB00 must beexecuted in Italy immediately after the balance sheet closing in which case the closing entries and opening entries areplaced into a BI session. Document the postings by means of the document journal.”
My recommendation for the order is:1)
 
Start with G/L balance carry forward (transaction F.16)2)
 
Run the RFSUMB003)
 
Run balance carry forward for customers and vendors (transaction F.07)This document only describes the RFSUMB00 report and assumes that all the ‘normal closingoperations have been done.

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