In this topic, we described about the Year end closing process in detail.
During the year-end closing, you can transfer carry forward open commitment values, purchase orders and funds commitments to the first period of the next fiscal year.
Step-1:- To carry forward a commitment to the first period, Choose Accounting → Controlling → Cost Center Accounting → Year end Closing → Commitment Carry Forward.
Step-2:- Enter the Controlling Area and click on tick mark.
Step-3:- In the next screen, enter the cost center, carry forward fiscal year, processing options.
Processing options can be like below -
- Test run − Allows the system to display the results, but does not update the results.
- Detail lists − Allows system displays the results carry forward.
- Reversal - To ensure that data that has been already carry forward will not be reversed again or not.
Step-4:- Click on Execute button to processing online.
If processing the large amount of data, use the background processing option. This allows to process data at times of minimal system usage.
Step-5:- Once click on the Execute button, the results displayed like below.