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Closing Activities

Introduction​

Postings in Contract Accounts Receivable and Payable (FI-CA) do not update the transaction figures in the General Ledger (FI-GL) synchronously. To improve performance, and to reduce the document volume in the general ledger, at periodic intervals you should transfer a summary of the postings from FI-CA to the general ledger.

There are posting programs and reconciliation programs that you can use for the transfer to the general ledger.

Closing Activities​

Contract Accounts Receivable and Payable supports you in day-end closing, month-end closing, period-end closing, and year-end closing. The following sections provide an overview of the activities to be completed.

Daily Closing Activities​

  • Create new reconciliation keys for payment and returns lots for which clarification processing is still to be completed.
  • Close the cash journal/desk.
  • Close all reconciliation keys.
  • Transfer the totals records to the General Ledger .
  • Transfer the data to Profitability Analysis .
  • Reconcile the cash clearing accounts.
  • Reconcile the open items.

Monthly Closing Activities​

  • Run the following receivables and revenue adjustments:
    • Transfer deferred revenues
    • Adjust receivables according to age
    • Transfer adjusted receivables (doubtful entries/individual value adjustments)
    • Adjustment postings for percentages of ownership
  • Run all steps that you run for day-end closing (see above).
  • Reconcile the clarification accounts.
  • Close the posting periods.
  • Create a key date-specific open item list.

Yearly Closing Activities​

  • Run a foreign currency valuation.
  • Run all steps required for month-end/period-end closing (see above).
  • Post the reclassifications.
  • Create the tax returns required.

Reconciling Posting Data​

The totals records should be trabnsferred on daily basis to General Ledger Accounting to provide an up-to-date and relevant reconciliation. After the transfer, you can use the following programs to determine any differences between Contract Accounts Receivable and Payable and General Ledger Accounting.

Key Terms​

Reconciliation Key​

Technical key with which documents from Contract Accounts Receivable and Payable are grouped for transfer to General Ledger Accounting.

FI-CA documents​

You neeed to specify the reconciliation key when you post the documents.

Totals records​

When you posts the FI-CA documents, the system updates the totals records for the reconciliation keys specified or creates new totals records for a reconciliation key.

FI documents​

When you transfer totals records to the general ledger, the accounting interface creates general ledger documents.

Reconcile within FICA​

Reconcile the entire posting data between FI-CA totals records and FI-CA documents

 - Periodic Processing 
 - Forward Postings 
 - Reconciliation 
 - Checks/Adjustments 
 - Check General Ledger Documents / Check General Ledger Documents (Mass Run)

Reconcile general ledger documents and FI-CA totals records

 - Periodic Processing 
 - Forward Postings 
 - Reconciliation 
 - Checks/Adjustments 
 - Check Totals Records / Check Totals Records (Mass Run)

Reconcile receivables and payables (FI) and the posting data in FI-CA automatically

- Periodic Processing 
- Forward Postings 
- Reconciliation
- Reconcile Open Items

Sample Transaction Codes​

Transaction CodeDescription

Sample Perocess Flow​

Customizing​

Tables​

TableDescription

Authorization Objects​

Function Modules / BAPI​

Function ModuleDescription

Events​

EventDescriptionSample Module

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