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Closing and Reporting

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This section will cover some of the tasks included in the period end closing as well as the year end closing. It will also cover some new reports as well as review some of the reports covered elsewhere. Well, although organizations may use the closing cockpit only to the closing. We only covered individual tasks for accounts payable and not the cockpit self in this section. First I'll run through the type of tasks and explain the schedule and I'll go into the detail of some of the tasks finishing off with the reporting. And of course, some tips and tricks in accounts payable. Probably the biggest part of the closing is ensuring that all the tasks for the month have been complete. This includes ensuring that as many invoices as possible, the posted to the relevant period, it would be rare to get everything posted in exactly the right period. It's not all suppliers raise invoices immediately, and there may be delays in sending them, especially where invoices are sent physically by postal surface, rather than sending electronically. So for the first few days of the new month, any invoices referring to the old month may still be posted. With the posting data, the old month, another task is ensuring that all the manual payments have been posted. And then the open payments, including down payments have been cleared against the relevant invoices as part of the bank statement, posting and reconciliation finance should have posted any manual payments, standing orders and direct debits to either the bank clearing account or the supplier. So accounts payable would just need to make sure that anything outstanding is posted to the correct supplier and any open supplier items are matched with the relevant invoices, the closing tasks for the GRI, our account have been included in the gr I R section. Once everything has been posted, there will normally be adjustments to be made. Sometimes these adjustments are only done at a quarter a year end, depending on the materiality. If the organization has more of my ledger and this, for example, reporting local gap in ifrifrst adjustments may be made in one or both ledges. And in some cases may be different in each ledger, depending on the local regulations. An example of an adjustment is the revaluation of any supplier items posted in a foreign currency. Another example, depending on the materiality. Is the reclassification of debit or long-term balances in the powder shape, urines closing link clued, all tasks covered during the period to end. Although some may be carried out in more detail and extra care, taken over local regulations, which may not have applied for period ends. The year end carry forward is now included in the general ledger carry forward. So we will only cover it briefly here because the message carried out the opening balances in some transactions may not be correct. Balance. Confirmation is often requested by the auditors as part of the audit. This is often carried out around the year end, but may also be done at other times, such as a quarter end or a month or so before the year end. To reduce the work at here end. Although fewer reconciliations are required due to the new structure in this for HANA as modules, tenting, hesitantly, reconciled, there will probably be more detailed reconciliation's carried out of caring accounts and certain GL accounts such as manual accruals prepayments and so on. Some countries will have additional local requirements. For example, the withholding tax 10 99 process in the us. Some jobs can be run directly and some are better scheduled and some can be both. There are several apps for scheduling and they all behave in a similar way. The main difference is the standard templates that they contain. In addition to being able to share deal in that relate to date or time. You can also use the scheduler to set up a recurring task, to run on a regular basis, for example, overnight, or at the end of a period, the slide shows the standard overview page, which will show all the jobs that have been run for a specific date range, any error logs, and if successful results button so that you can see what has been processed. To create a new task. After clicking on the plus button, you choose the job template, which would effectively represent the transaction. You want to share to you. Usually the template runs the same transaction that you could run directly. Although the layout may look a bit different on the next screen. The job template was showed the default task, and you can see other templates by clicking on the dropdown and then clearing the existing task from the search field. If you don't clear the search field first, you won't see the other tasks. So be careful on that. Most jobs will then show the scheduling options, EEG, whether to run immediately or schedule for a specific time. And also whether to run just for a single time or set up as a recurring job. The rest of the selection criteria would depend on the job, but usually contain identical criteria that you would see if you ran the job directly, although sometimes laid out slightly differently. If you could run it in test mode directly, you should be able to run it in test mode here. Well, once you click on the shed, you, you returned to the overview. I can see if the job is still in process or has finished. Then you can click on the log to see how the job Brad, if it was successful, you will see a button in the results column and you can then click on it to review the results. I've already covered some of the templates in the relevant section, but will demonstrate more scheduling jobs in more detail in this section, perhaps most applicable to accounts payable. The shown in the slide, the exact templates contained in each will vary with the different releases and each system may have different templates enabled. So you need to double check the fury library and your own systems, but the slide shows some of the standard examples based on the 1909 system that I'm using shared your supplier invoice jobs app F1 six, eight, three. It's most useful for the release blocked invoices functionality, which refreshes the three-way matching. So any credit notes purchase order adjustments or additional goods, receipts, or corrections are included. And if the transaction now matches, the blocks can automatically be released. This is the equivalent to the MRI BR transaction in the going. It also contains the maintain gr I R clearing template based on the classic gooey transaction. Mr. 11, if you do not have access to the new gr I R tools, the shit you do. Accounts payable jobs. I have F two, two, five seven is linked more to payment tasks. For example, scheduling the automatic payment program. You can check this directly from the automatic payment program at Pennywise. But the advantage of the shared center is that you can set up a recurring job to run proposals overnight. For example, if you have a lot of times to make on a regular basis, there's also a template to delete the payment entries or reverse payments. For example, if an incorrect date has been entered, but only if no payment media has already been created. The jobs in the shed, your general ledger jobs app F1 97, most relevant to accounts payable include the automatic clearing template, which in addition to clearing GL accounts, such as the G R I R also allows you to clear supplier accounts automatically. If you've set up the criteria, it includes the reposting of the GRI, our account. In other words, splitting out the invoice of goods, receipts, surpluses. It includes regrouping of counts paper accounts, which I will cover shortly plus post recurring journal entries and the foreign currency review. This doesn't mean that they have to be run using the scheduler, maybe run by the department responsible for the general ledger postings, rather than by accounts payable. I just wanted to list them so that you're aware of them, even if you're not directly responsible for running them. And the fact that there's more than one scheduler app. One regular task for accounts payable is to run reports, to find port open items have not been properly allocated. Normally, if you are using your tomatic payment program, everything should be allocated automatically. However, payment may have been returned due to lack of funds or for example, manual payments, direct debits or dam payments. May not have been cleared properly and need further investigation. If you don't check that the payments can be cleared against the correct invoices on a regular basis, there's a risk that some of those unallocated payments may remain on advocated because they'd been posted to the wrong supplier account, or they might be duplicate, or the related invoices have not been posted for some reason. When you run the app clear outgoing payments app F1 three, six, seven, and then choose both payments and down downpayments it will show you all the payments that have not yet been cleared. Selecting an item will take you into the supplier account where you can clear it. If the correct item is available for you to match it against details of the clear outgoing payments app have been covered in section six of this tutorial. If you have material amounts of debit balances on supplier accounts, you will normally have to show the debit amounts and receivables rather than reducing the overall payables totals in the balance sheet, rather than adjusting each supplier account individually, there is a standard program which takes the balance of each supplier account, but moves any debit balances to receivables. By posting a credit to an adjustment account in the accounts payable area for the balance sheet and a debit to an adjustment account in the accounts receivable area of the balance sheet. It's an app based on the classic GUI transaction for this, which is F a G L F one Oh one. It used to be just F one zero one. If you were using an older ECC version, we've had the new general ledger functionality. Well, you can share it around immediately or so later stage using the schedule general ledger jobs. Now that you have to run it separately for each valuation area, for example, local gap, an IFR S and it will update the relevant nature. Assuming you're using parallel ledges, I would demo the regrouping of accounts payable. So that the debit balance is shown under receivables or using the shared your general ledger jobs. Have if online to seven on the first screen, there is the usual overview. I click on the plus button to create a new job and to choose the correct template in the dropdown. I clear the existing search and select regroup, receivables and payables. I default to two set to start immediately for a single run in the parameters. I choose first the company code, and then I select the standard sort method for the regrouping, which in this case it's called SAP. Next I choose valuation area. I would choose I F for ifrifrst, which in this system will update the leading edge. Although I could also choose U S for us gap. We Chuck these parallel ledgers to help out into the balance sheet. Key date is 30th of September and select K so that it only be posted debit balances for suppliers. If I left it blank, he would also select the credit balances in accounts receivable, move them to the payables part of the balance sheet. I also select the display in safe lock boxes. Because I've not selected the generate postings box. It's still only test run. Next. I click on the schedule and it returns me to the overview, but it shows the status of the job is in process. When I click go it refreshes and shows the job is finished. There's no error log, but there is a results log, which I can select. And it shows first the parameters I have selected. And then the supplier account balances. If I scroll to the bottom, it shows the proposed postings. The first is dated the 30th September and transfers the debit balances. And the second he stated the 1st of October and reverses the posting. If everything is okay, I can now go back and rerun the transaction in live mode. We come out of the test. I have to create a new task. Once again, I clear the existing template and select the V group payables template. I'm choosing company code. So what method? Valuation area in the balance sheet key date. Then I select account type K and also select the display and save local books. Is this time I'll select the books generate posting. Oh, it looks okay. So I can select shed you again. That could be honest with you page. I click on go a couple of times until the status changes to finished and the results button appears. This time when I scroll to the very bottom, you can see, I have to go back up a little to see the debits and credits because the details of the documents that were posted now appear at the very bottom. It can be used to the same selection criteria to regroup payables for different years. For example, invoices do okay. One year or over five years, et cetera. The slide shows the regrouping rerun. After an invoice due in two years is added. Where invoices are posted in a foreign currency, they update the ledger in the local currency. If exchange rates fluctuate a lot, you may need to revalue them on a periodic basis. And in most countries, the law requires you to at least revalue them at the year. End. If you have more than one ledger, for example, One they're due for local gap or generally accepted accounting principles of the country. You're reporting in a separate ledger for ifrifrst, which are the international financial reporting standards. You can choose when to revalue each and whether to use the same exchange rates by creating separate valuations for each. You may reevaluate, for example, I'm dry FRS for management purposes periodically and for local gap only at the year end. There's different areas that will need to be revalued. For example, supplier and customer balances in foreign currency banks, accruals, and other GL accounts held in foreign currencies. So the whole reevaluation may be done centrally, or for example, accounts payable may carry out to the accounts payable, reevaluation. In any case, no revaluation can take place until all the postings to the relevant area for the period have been completed. And any new exchange rates have been entered. The perform foreign currency valuation app is based on the gooey transaction, F a G L underscore F C V. And this covers all the different areas with the separate tabs in the slide. So the customers and vendors are on the open item sub-ledger and then you have a separate tab for open items for GL accounts, such as the bank clearing account, and also for GL account balances, such as the main bank accounts. Normally the default is Testra and if you want to post the revaluation, you have to de-select the test drive. You can also reset the reevaluation using the settings on the first tab. In the example in the side of only select people, I'm a vendor on the open items, subledger tap, but normally you would select the whole range as you can see, there are other tabs for other areas in the GL, but we'll only look at the vendor ratings here. The final tab contains details about the log and also allows you to summarize the revaluation items by vendor in the results, but not in the posting. When you execute the transaction, you'll see the local and foreign currency amount for each invoice and the older, new exchange rates with the difference to be posted for each line. You can click on the message button to check for errors or on the posting button to see the journal entries, even in test mode, sales page, you can drill it down to the individual document details if required by double clicking on a line and if necessary, then selecting the call up document overview button. If you want to see the postings of the whole document. Typically posting is made on the last day of the period using new rate from that day from reversed on the first day following period. However, some countries do not allow the reversal at the beginning of the new year because the retaliation may refer to a number of different documents on different accounts. Then you cannot update the reconciliation accounts directly. An adjustment account reported in the same areas as the accounts payable account is used for the posting with the other side, going to the relevant balance sheet or profit and loss account, depending on whether it's a gain or loss on exchange and what the local rules are. I run the foreign currency revaluation using the schedule general ledger jobs as shown in the slide. When the carry forward is run for the general ledger. He now picks up the balances for suppliers and customers automatically. Although you can still run the old transactions as well. You can use the create correspondence app FC zero seven four four eight. To create various types of document to send to a supplier. If you click on the create correspondence button on the supplier balances screen, you can then choose the correspondence type. For example, account statement, make sure that you select the supplier rather than customer, and then into the supplier number and the relevant posting dates that you want to run the statement for. You have options at the bottom right of the screen to preview, send by email or print. This slide shows an example of a basic form, but there'll probably be some setup to adjust the form for your organization. For example, to add the logo, the details of your organization. Well, what do you change the form around? Some of the reports are already covered in their relevant sections, but it's handy to have examples of them all in one place, especially if you don't remember exactly which port has a specific functionality. Although not all reports are strictly in accounts payable, you can get to some reports from accounts payable apps. For example, you're refuting a supplier account and drill down to the invoice and related documents, perhaps to take a look at the purchase order or the goods receipt, which will probably take you to the manage purchase order app or the material document for the goods receipt accounts payable overview is one that with a lot of different tiles, many already showing some information on the tile itself. At the top, you have to select a display currency. You can also enter different filters. You can have tiles by going to the user profile button or what used to be called me button and select the manage cards option, which only shows up on the overview apps. No, in 1909, this is on the right of the screen. Although in earlier versions, it was on the left. In the manage card popup. You can switch a tile on or off. Or instead you can drag and drop them to different positions on the screen. You can also drag them to be smaller, or this slide shows some of the tiles available. There's a tile with quick links to other apps, such as managed supplier items, managed payment, blogs, display, supplier, invoices, and so on. And you can get to your inbox from another time. Some of the tasks have a dropdown on the face of the app. So for example, instead of seeing a line graph of posted invoices in the current period, you can switch to a bar charts, it posted invoices by user. You can drill down for further information or any of the tiles. For example, if you click on the parked invoices tile, it takes you into the app, manage supply line items, filtered by park, the invoice. Most of the apps are fairly self-explanatory. So I won't go into each one, but if you want more detail, you can either click on the question. Mark shaped help button in the 1909 release, which gives the summary of each time. Or you can go to the app accounts payable overview in the fury app library. And there's also a summary of each app and links to more detailed information such as the calculation budget for the day sales outstanding. I think on what process you have to prove changes, you may decide to run an audit trial periodically to either double check larger items or generally check that no unauthorized changes have slipped through. You can see in the individual supplier master data, when it was last changed and who made the change to review the changes, three numbers, supplier accounts. There is the old transaction. Yes. Underscore ILR underscore eight seven zero one two zero eight nine, which can be set up as an app. This report, you can either filter on the first screen or in the layout to restrict the period of changes and also filter by the value that you want to use. If you've made any changes to the line items, you can run an audit trail of the changes using the app display item change log. You can run it through changes, or you can select a specific change. For example, payment blocks or payment method. You can also run reports to check where the changes have been made to documents such as invoices. What changes could be made to payment terms, allowing certain suppliers to get an unapproved or higher cash discount or allowing them to pay later than agreed. These reports are covered in the reporting section. The next two sections are approximately split between standard day to day reports you might use, for example, lists or tables of the master data or documents that you're working on. And reports more typical of the period end with KPIs, more charts. Although there's some overlap, the supply balances report is quite similar to the GUI transaction. Although the GUI transaction doesn't have the comparative tab or imputed interest column three report shows the total debits credits and period totals for one or more suppliers, all suppliers. Most important thing to note with this app is that if you drill down into a number, the results will be filtered to match that specific number. So if you drill down on the total debits for period three, for example, which in the side, total of 79,950, you will only see those step. It's not the credits for period three and not the total for the whole year. No purchases. Total includes taxes. If you go to this special GL tab, you can see items which had been posted with a special GL code, which means they appear on a different reconciliation account than that, which is in the supplier master data. A typical example of this would be down payments, but you can also use it in areas such as bills of exchange, bad debts and guarantees. Here I selected the down payments amount from the previous slide and it took me to the manage supply line items. And I can see here that there are two items with special GL indicator, a meaning, a down payment. You can also compare any two years by selecting the latest year in the filter. And you can export to Excel as well. So we've already seen the managed supply line items report reporting section six, but just to quick run through anyway, you can enter quite a number of selection criteria in the filter bar, and you can save the selection criteria as well as the layout is variance. You can group, for example, by supplier account group, region, country reconciliation, account accounting, Clark, or head office branch code payment methods, and so on. As well as being a report, there are various actions you can take such as blocking or unblocking for payment, creating single payment and also some editing. Obviously, there are many fields you cannot edit. For example, dates, amounts, GL accounts, or cost objects. In addition to editing the assignment field and the text fields, you can also change the payment and Dunning fields for all the selected invoices or just one invoice is required. You can add fields, rearrange, the columns sort, filter and group using the settings button, which gives the pop-up in the side here. That's when it's in the filter bar, for some fields you can include or exclude a number of items using conditions such as contains equal to between starts with ends with. Less than or equal to greater then. And so on, you can choose which type of item to display, just normal parked or items for specialty L. And if a customer is linked to the account, you can also see the customer items. Well, I chose the selection criteria to include any related custom line items in the manage supplier line items, report, and vice versa. Assuming the customer and vendor linked in the master data. We're already seeing the supplier invoices list F1 zero six zero eight when reviewing invoices and their history. And it's handy to find, for example, part two, a held invoices. This slide shows the same app, but grouped by invoicing party and reduced to one nine to better see what invoices have not been fully posted by supplier. And also whether an influence was parked before posting. This has a similar layout to the supplier invoices, but it shows the supplier master data. Interesting thing is that if you click in the blue vendor number, although you have a list of apps, so you can jump to, you can also click on the actual blue vendor number in the pop-up box. And that will take you to the supplier fact sheet instead. The supplier fact sheet is very interesting. Is it mixes master and transactional data giving you a full 360 degrees view of the whole supplier. If you select the little arrow to the right, you can see a drop down of all the different tabs that are available. The next slide show a couple of different views. This supplier fact sheet app F C zero three five four. It's usually accessed from within other apps. You can see list of invoices as well as evaluation scores. If you need to check a GL account posting, you can use the general ledger app display line entry F two two one eight. The difference between this app and the app display line items in the general ledger F two, two, one seven is that this report shows the entry view and the other report shows the general ledger view. What this means is that the entry view shows the postings exactly as they've been made. But the general ledger view includes documents, splitting documents, splitting if implemented takes place. When, for example, you post a credit of a thousand to a vendor and then post two debits to two different profit centers or segments. Because the vendor has to have a profit center and each profit center has to balance back to zero in document splitting the system will split the vendor posting into two line items in the background. If you look at the supplier account or any report showing them entry view, you'll only see the one nine, nine two, but the general ledger, you will show two items adding back to the original amount. Manage purchase orders, FC zero eight four two a this site and the next slide show purchase order reports, which are perhaps more useful for the procurement department, but I thought it was to include so that you're aware of them. In case you need to check or review something, maybe there was a typo in the purchase order number, for example. You can see a list of all the purchase orders, their status amount. And so on this subsection covers apps that show key performance indicators or KPIs in accounts payable. A lot of the apps have KPIs on the face of the app. So for example, in the side, I can see that the days payable outstanding is 116.6, and I can then click on the app to go into it for further details, the amps in the report, the standard apps. But I could also go into one of the reports and save for Varian for specific company code, specific suppliers, specific banks, etc. And then save my own tar just for that variant. Even if I don't mention it most, if not, all of the tables can be exported to Excel, the LPG payables are F1 seven, four, six behave similar to the invoice processing and discount reports shown in more detail in section four. The opening screen shows the total amount of critically and uncritically overdue items based on the value in the critical overdue threshold field in the standard filter bar. There's also the quick filter implode just underneath where you can select. For example, company code, you can run the report by company code supplier group block reason, and by supplier. You can also share each supplier split by intervals of 30 days using the double arrows. You can also add, for example, currency document status, for example, normal or part and GL account. This slide shows the same app, but with a different type of chart, but there are of course, many other options such as pie chart, bubble chart, scatter charts, et cetera. And you can, of course change the chart type and change the access. And you can show us the table, the future payables hap F1 seven four, three. Similar to the overdue payables app with the standard filter and quick filter, but showing amounts during the future, rather than overdue, you can run the report by chart or table and by company code or the supplier top tech. Then you can add another dimension such as country payment, block region, et cetera. You can change the strains of those, which currently to full tenors, 30, 60, and 90 in the slide. And you can change the axis around the logic to this app days payable, outstanding app F1 seven four zero. It's quite similar to the previous ones with the two filters, the choice of chart or tape and different criteria that you can choose to report by such as timeline company code supplier to 10 highest or lowest DPO. You can also show a further hierarchy by using the dam with pointing arrows to add other criteria. For example, probably the main criteria is a company code. You can have a second criteria as supplier or period or country or all three. If you want further detail or the exact calculation logic, again, you can either use the help button or check the few of your library, documentation. Day's paper indirect method F two eight nine five. It's very similar to the F1 seven four zero app, but calculates the DPO on an aggregate level for more details. There's the link to the app documentation in the fury app library.