Closing and Reporting (FI)

Closing and Reporting (FI)
Purpose
Closing operations recur periodically and can be subdivided as follows in Financial Accounting:
Day-End Closing
Month-End Closing
Year-End Closing
You can use the closing operations component to support the preparation and carrying out of activities required for closing. For this purpose, the system provides various standard reports that you can use to generate evaluations and analyses directly from the posted account balance. The system supports the following closing operations:
Periodic accrual and deferral of expenditure and revenue
Creating the financial statements
Documenting the posting data
Integration
To carry out closing operations in General Ledger Accounting, you must first carry out the closing operations in the subledgers that you use. These include, for example:
Accounts Receivable and Accounts Payable
Materials Management
Asset Accounting
Payroll
Features
Under certain circumstances, you can produce simplified consolidated financial statements in Financial Accounting. However, to create standard, extensive consolidated financial statements, you must implement the Consolidation (SEM-BCS or EC-CS) components.

Purpose
The planning function in the General Ledger enables you to enter plan data based on your financial statement versions. You can use a budgeted financial statement to compare plan data with actual data.
Implementation Considerations
Before you can create plan data and use it for various reports, you have to set up planning. For more information, see Setting Up Planning.
Integration
You can use plan data from the following application components in the SAP system for your planning in the General Ledger:
Overhead Cost Controlling (CO-OM)
Profitability Analysis (CO-PA)
For more information, see Copying Plan Data.
Features
You enter the plan data per company code. Within a company code, you can plan for accounts and/or a combination of both accounts and business areas.
You can plan as follows for each company code:
Accounts only, without business areas
Accounts and business areas
Accounts and selected business areas
In the planning function, you navigate within one of the financial statement versions that you have already created. You use a financial statement version to define the format of the financial statements.
You can enter plan data for:
The entire financial statement version
Particular sections of the version
You can define different plan versions. You can use these for entering plan data for different financial statement versions, for example.
Planning is always made for a year, which means you cannot plan for more than one fiscal year.
You enter your plan data by entering plan totals and distributing them to the individual plan periods by means of a distribution key. You can also enter plan data for the individual plan periods, and have the system total these amounts.
You can enter the plan data either in local currency or in transaction currency.
When entering the plan data, you can also display the actual data of the previous year.
You can use report program RFBILA00 to create a budgeted financial statement. The budgeted financial statement contains the actual data from the financial statements and also the plan data, for comparison purposes. For more information, see Creating Budgeted Financial Statements.
For information on how to enter plan data, see Entering Plan Data.