Ending Financial Year
Dear All
I am trying to develope an accounting program in Oracle Developer 6i client/server environment.I have certain confusions in it.Can someone please tell me that what happened when we end the financial year?
What happened to the previous year balances? What happened to the Revenues/expenses balances how they will goto the next year?
Can we see the previous years income statements or balance sheets?
I will really appreciate if someone will tell me tips about that.
Thanks
Laila Mac
I think that this is not the correctr forumn to ask this question on - I'm guessing that your question relates to bespoking Oracle Financials which is outside the scope here.
Similar Messages
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Date Range according to Financial year-end
Hi
I'm building this Discoverer report and one of my parameters is a LoV date field, which gives me a date range from Jan to Dec each year. Now my problem is, I want my date range to be as per our Financial Year End, which is from 01-Oct-03 to 30-Sep-04.
You'd find "<All>" amongst the range. This "All" currently indicates date between Jan 2003 - Dec 2003. Now I need to write a query/trigger that will put my date range to be between 01-Oct-02 to 30-Sep-03 recurring automatically after each Financial year-end.
ThanksHi,
Although I haven't tried it, you should be able to use a combination of hierarchies and alternative sorts to accomplish this.
How have you created your list of values? If your LOV is a list of months and years e.g. JAN-2003, FEB-2003 etc, you can create a alternative sort which will make OCTOBER the first month of the year - i.e. with value 1, and NOVEMBER = 2 and so on...
Sorry this is a bit vague. I will try and test tomorrow and see if it works, but this should be enough to give you an idea of how to progress. -
Hi
I'm building this Discoverer report and one of my parameters is a LoV date field, which gives me a date range from Jan to Dec each year. Now my problem is, I want my date range to be as per our Financial Year End, which is from 01-Oct-03 to 30-Sep-04.
You'd find "<All>" amongst the range. This "All" currently indicates date between Jan 2003 - Dec 2003. Now I need to write a query/trigger that will put my date range to be between 01-Oct-02 to 30-Sep-03 recurring automatically after each Financial year-end.
ThanksHi,
You might want to post the Q on Discoverer Forum also
Discoverer
Navneet. -
Hi Experts
We have been advised that we will be changing our financial year (currently July to June) to tie in with our new acqusition companies fiscal year, which runs from January to December.This will be done with effect from end June 2012.
Consequently, we will be running a 6 month 2012 fin year (July to December 2012) and then properly aligning with the 2013 fin year from January 2013.
We have SAP version ECC6 without Flex General Ledger.
Two approaches have been identified by our consulting company :
One approach is to make use of the shortened fiscal year functionality. This would allow us to create a shortened FY2013 of only 6 months, which would run from July 2012 to December 2012.The next Fiscal Year would then start in January 2013 and run to December, as required.The only drawback is that the shortened fiscal year would have to be FY2013, although it ends in December 2012, and that going forward, the FY would always be 1 year ahead of the actual calendar year. There is a further impact, in Fixed Assets, the shortened fiscal year will need to maintain a small bit of config, (OAYP) where we stipulate that the depreciation for the shortened year needs to be reduced to match the shortened length of the year. Also in using the shortened fiscal year approach there is also apparently a couple of SAP notes that they will need to apply to ensure that the asset depreciation is correctly calculated during the shortened year.
In the other alternative the u201Cnew and correctu201D Fiscal years are created and linked to new Company Codes. All financial transactions are then posted in the new companies from period one of the new Fiscal year.
The closing balances of old companies are posted as opening balances for the new Companies.
Some of the other implications are:
The Profit Centers must be opened in the new companies.
The stock must be transferred to the new companies.
The open Purchase orders must be u201Cconvertedu201D to the new companies or new Purchase Orders must be created.
The Fixed Assets must be transferred to new companies.
The Controlling Area might be impacted.
To be able to do Comparison reports we should do a history take on. (This can only be monthly movements per profit center per GL-Account, converted to the new Fiscal periods.)
Experts, are there any other options that are worth persueing with the least business impact ? Please help, your advise will be highly appreciated.If you do not prefer to create new company codes and undergo a conversion effort, you can go with the first alternative and then engage SAP SLO services to replace the shortened fiscal year 2013 in your system to the correct fiscal year. That way, your next fiscal will remain 2013, and your fiscal year will not be always 1 year ahead of your actual fiscal year.
Please also read the following SAP note. There is a lot of material to read in the attachments to this note, but the time that you spend reading it is time well spent.
https://service.sap.com/sap/support/notes/672255 -
How to define financial year to start in November and end in October
Hi,
I am trying to build a report with following columns
Resort, Month, YTD Rooms, LY YTD Rooms.
Filter on Year==2010
The above measures
YTD=Year to date rooms
LY YTD = Last Year Year To Date Rooms
The results would be
AF, Jan-10, 300, 350
AF, Feb-10, 200, 280
Now for this client the financial year, starts in November, therefore their year should be Nov-09 till Oct-10.
How can set the Year to be from november to October with a timestamp function?
Thanks and Regards
GiulianoHere's an idea you might want to try in the Presentation Layer base solely on what you shared so far:
Assuming that the report will always be run in the "current year" as you have in your example, than this should work:
1) Put a dummy column in your report with this CASE statement:
CASE WHEN Table.Month ((LIKE 'JAN%' OR Table.Month LIKE 'FEB%' OR Table.Month LIKE 'MAR%' OR Table.Month LIKE 'APR%' OR Table.Month LIKE 'MAY%' OR Table.Month LIKE 'JUN%' OR Table.Month LIKE 'JUL%' OR Table.Month LIKE 'AUG%' OR Table.Month LIKE 'SEP%' OR Table.Month LIKE 'OCT%') AND (Table.Year = CURRENT_YEAR)) OR ((Table.Month LIKE 'NOV%' OR Table.Month LIKE 'Dec%') AND (Table.Year = CURRENT_YEAR - 1)) THEN 1 ELSE 0 END
Put a filter on this column and set it to 1.
2) Add another filter on CURRENT_YEAR and CURRENT_YEAR -1.
NOTE: In my example, CURRENT_YEAR is a repository variable you should have (name could be different, but it should be in number format).
The way this works is that the second filter filters your report overall on all data for "this year" and "last year." The first filter works with the data within this potential two-year period. Within this time frame, you want the data, for the months of Jan - Oct, where the year = current year and (which in logic, uses the logical operand "OR"), you want the data for the months of Nov - Dec when the year = current year minus 1. This filter will filter out Jan - Oct of "last year" and Nov - Dec of "this year," leaving you with the time period you are looking for.
Play with the syntax, cause I didn't build this one, but it should work. -
Reg : Financial Year end closing
Hello Gurus,
I am new & I want to know what is the procedure for closing FI financial year & which T-code should be used.
Regards
Reshmahi rashma,
Pls follow the step...
Check List for FI Year End Closing
Moderator: this is useful but it belongs in the Wiki. you'll get more points there too.
Rohit agrawal -
Report to check all GL account wise at the end of year
hii friends,
Can we see all GL accounts wise report with opening balance, transaction and closing balance at the end of year.
In FS10 N we are able to see one account no and it details or else we can see the total of all the balaces but not the a.c wise.
can anybody help me out with any standard report or T.code to check no of GL accounts with the details of opening balance, transaction and closing balance.
the purpose is for reporting at the end of year.
Thanks in advance.....Hi,
For genertaing the report as per ur requirement, u can follow the following path:
SAP Easy Acess->Accounting->Financial Accounting->General Ledger->Information System->General Ledger Reports->Account balances->General->G/L Account balances/Totals and balances/Structured Account balances.
Remenber in the selection criteria dont mention any particular G/L a/c no. if u want report for a number of G/L accounts.In that case, u can mention ur co. code or a range of G/L accounts as a selection criteria and the report will be generated accordingly.
Hope this clarifies to some extent.
Please reward points if u find this to be useful.
Thanks,
Prithwiraj. -
Open PO's after new financial year ??
hii
If we have some open PO's after year end .(New financial year got opened )
In this case , we ahve to open new MM period using MMPV.
What are the impacts will be there in SAP system, how to proceed further.
Thankshii
Can u tel me , the steps has to be carried out in MMPV and OMSY.
Once the new Period got opened in MMPV , how to proceed furthere with ur solution.
Anthony said , there is no problem .
can soem bosy explain me the step in MMPV and OMSY??
Thanks -
Is there a way of adjusting WEEKNUMs to match a financial year?
Hi
I am wondering if there is a way to have Numbers 09 adjust the WEEKNUMs so that they match the financial year, starting in the first week of April (UK). Given that I will have to do tax returns which match the financial year, it makes sense to match my accounts/Numbers files with the financial year.
Thanks
Nicknick_harambee wrote:
I am wondering if there is a way to have Numbers 09 adjust the WEEKNUMs so that they match the financial year, starting in the first week of April (UK). Given that I will have to do tax returns which match the financial year, it makes sense to match my accounts/Numbers files with the financial year.
I guess the place to start here is 'Which numbering system do you want to modify for this?'
1) ISO Week: The International Organization for Standardization (ISO) ISO8601:2000 Standard
All weeks begin on a Monday. Week one starts on Monday of the first week of the calendar year with a Thursday.
2) (Not included as week starts on Sunday. Otherwise same as #3)
3) Excel(and Numbers) WEEKNUM function with an optional second argument of 2.
Week one begins on January 1st; week two begins on the following Monday.
4) Simple week numbering.
Week one begins on January 1st, week two begins on January 8th, and week 53 has only one or two days(for leap years).
For modified system 1 (ISO), replace "calendar year" with "financial year". For modified WEEKNUM and Simple Week Numbering systems, replace "January" with "April"
The nice thing about #4 is that it is "simple", and that simplicity extends to the ease of starting with any specific date. No correction factor is needed for the transition from one calendar year to the next.
The shifting start dates of Week 1 of #1 and of Week 2 of #3 add a complication, but if these can be determined, the rest of the year can easily be numbered using the same formula as #4.
Here are the three choices, with formulas below.
SWN
Start Date: April 1, constructed from A1.
Table 1::B2: =INT(DATEDIF(DATE($A$1,4,1),A, "D")/7)+1
(Results modeled on) WEEKNUM
Start Date: Monday preceeding April 2
Table 2::B2: =(DATE(Table 1 :: $A$1,4,1)-WEEKDAY(DATE(Table 1 :: $A$1,4,1),3))
Table 1::C2: =INT(DATEDIF(Table 2 :: $B$2,A, "D")/7)+1
(Modeled on) ISO
Start Date: Monday preceeding first Thursday in April
Table 2::B2: =IF(WEEKDAY(DATE(Table 1 :: $A$1,4,1),3)<4,(DATE(Table 1 :: $A$1,4,1)-WEEKDAY(DATE(Table 1 :: $A$1,4,1),3)),(DATE(Table 1 :: $A$1,4,1)+7-WEEKDAY(DATE(Table 1 :: $A$1,4,1),3)))
Table 1::D2: =IFERROR(INT(DATEDIF(Table 2 :: $C$2,A, "D")/7)+1,53)
Note: IFERROR traps the error that occurs when April 1 falls on a Friday, Saturday or Sunday, and assigns the days before the first Monday to Week 53. You may prefer to consider (and label) this Week 0. To do so, replace the 53 at the end of the formula with 0 (zero).
None of the formulas will give 'correct' results beyond one year after the starting date.
Regards,
Barry
EDIT: Noting your newest post, I think you may want to consider the Simple Week Numbering system, using a starting date of April 6.
Barry
Message was edited by: Barry -
Create asset-error"E003 SYST: Period 000 is not valid in financial year var
Error during Asset Creation: E003
AS01: Create asset was executed. During saving the asset got an error
E003 SYST: Period 000 is not valid in financial year variant
Following are the Depr keys assigned;
LINA is being used for Book Depreciation
MSTL Depreciation key is being used for ACRES, ALT MIN, ACE, E&P.
Asset Class is BuildingsHello!
I had the same problem a few month ago. There is a SAP note about this. Run the Asset Year end technical proces in ARJW. Try again your asset creation.
Greetings,
Stéphane -
SYST Period 012 is not valid in financial year variant R2 Msg no;FGV003
Hi SAP Gurus,
I have encountered with an error as following :
SYST: Period 012 is not valid in financial year variant R2
Message no. FGV003
Our client following calendar year till December 2009. They want to change to April to March , from April 2010 . So we need to define a shortened fiscal year for January to March 2010 for 3 months.
One important thing is Depreciation should be calculated only for 3 months ie., from January 2010 to March 2010 for year 2010. For year 2011 u2013 April 2010 to March 2011 be calculated.
I have done the following settings :
Current fiscal year variant = K4, i.e. the standard variant with 12 periods (calendar year)
-the current fiscal year must be closed on 31.12.2009
-this change have to be done in the next month, i.e. on 01.01.2010
-on 1.1..2010 starts the new fiscal year 2010
-the fiscal year 2010 ends on 31.03.2010 and have 3 posting periods
1) Create a new Fiscal Year Variant for the shortened fiscal year u2013 e.g. "R2" (OB29).
2) R2 to be made Year Dependent. Current Period Configuration
Month Days Period Year Shift
1 31 1 0
2 28 2 0
3 31 3 0
4 30 4 0
5 31 5 0
6 30 6 0
7 31 7 0
8 31 8 0
9 30 9 0
10 31 1 +1
11 30 2 +1
12 31 3 +1
3) Company Code assignment (OB37): K4 to be replaced with R2 .
4) Controlling Area (OKKP): K4 to be replaced with R2.
5) Fiscal Year to be shortened for Depreciation Areas in Asset Accounting customization (OAYP).
6) Table T093C to be viewed to check whether the field XRUMPF (Shortened Fiscal Year) has been activated with u201CXu201D..(SE 11 Check Table) Done manually
Other Problem : 1. The system calculates deprecation for period 3 ( Full year deprecation) as seen from AW01n for one asset.
2. When I run AFAB for 2010 period 1 the error is displayed
SYST: Period 012 is not valid in financial year variant R2
Message no. FGV003
Please anybody help me in this issue .
SubbuHave you maintained the Year Shift Properly in OB29
For e.g if Financial Year is from July to June, year shift will be as follows:
Month Days Period Year Shift
1 31 7 0
2 29 8 0
3 31 9 0
4 30 10 0
5 31 11 0
6 30 12 0
7 31 1 +1
8 31 2 +1
9 30 3 +1
10 31 4 +1
11 30 5 +1
12 31 6 +1
Check also FI period and aseet periods are open through OB52 and AJAB -
4-4-5-Error-Financial year variant periods K5 are not in increasing order
Hi,
As per the client requirement I have to configure the Posting Periods in the Calender Year
Month Posting Period Days in the period From To
January 1 31 1 1-Jan-09 31-Jan-09
February 2 28 2 1-Feb-09 28-Feb-09
March 3 35 3 1-Mar-09 4-Apr-09
April 4 28 4 5-Apr-09 2-May-09
May 5 28 5 3-May-09 30-May-09
June 6 35 6 31-May-09 4-Jul-09
July 7 28 7 5-Jul-09 1-Aug-09
August 8 28 8 2-Aug-09 29-Aug-09
Septem 9 35 9 30-Aug-09 3-Oct-09
October 10 28 10 4-Oct-09 31-Oct-09
Novem 11 28 11 1-Nov-09 28-Nov-09
Decemb 12 33 12 29-Nov-09 31-Dec-09
As per this requirement I have configured the following
1. Copied F/Y variant K4 to K5
2. Made the following settings
month Days Period
1 31 1
2 28 2
3 31 3
4 4 3
4 30 4
5 2 4
5 30 5
5 31 6
6 30 6
7 4 6
7 31 7
8 1 7
8 29 8
8 31 9
9 30 9
10 3 9
10 31 10
11 28 11
11 30 12
12 31 12
When I save this setting the following error is given
Financial year variant periods K5 are not in increasing order
Message no. FGV555
Diagnosis
The posting periods are not in ascending order.
Procedure
Specify the posting periods with the calendar year in ascending order
Request you to please let me know if there is a solution.
Regards,
Ambuj
+919739976912Ambuj,
In your settings for fiscal year variant K5, you do not need the following entries:
3 31 3
4 30 4
5 31 6
6 30 6
7 31 7
8 31 9
9 30 9
10 31 10
11 30 12
Please try removing these entries and see if that resolves the error.
You only need to account for the last day of the calendar year (12/31/xxxx). You do not need to account for the last day of every calendar month. As a result, you do not need entries for the last days of January - November, unless the last day of the month is also the last day of the period, as is the case for your periods 1 and 2. That is why the entries for the entries for 1/31 and 2/28 are OK, but the other calendar month end entries should be removed.
Regards,
Shannon -
Dear Sir,
Our company is presently following Financial Year Oct to Sep . Current Financial Year 2010 , started on Oct-2009 . Comapny has decided to change the Finacial Year from April To March . As per the decision , the Current Financial Year 2010 , will be of period Oct-2009 to March-2010 (6 month period) and will be closed on 31-Mar-2010 .
From April-2010 , new Finacial Year 2011 will start .
We are presently on ECC-6.0 and have Fixed Asset also implemented .
We request you to kindly guide us , as how should we go ahead to make these changes possible and what steps we need to follow to make the desired changes .
Kindly pl note that March-2010 closing will take some days and hence in April there will be situation when transaction are posted in FY-2010 and FY-2011 both .
We request you to pl help us .
Rgds
B MittalHello,
Adding further, check these also.
1 Maintain Activity prices - KP26
2 - Release of Standard Cost Estimate - CK40N
3 - MM period close and open - MMPV
4 - FI period open
5 - Parked documents to be posted - FBV0, MIRO
6 - Reposting of Inter Office CC - KB61
7 - Bank Reconciliation
8 - Update Section Code where missing - J1INPP
9 - Maintain GRIR clearing - F.13
10 - Provision for current month - FB50
11 - Depreciation entry - FB50
12 - Exchange rate - To be Updated
13 - Revaluation of foreign currency open items - F.05
14 - Recognition of Inventory at Bonded warehouse - FB50
15 - Maintain Statistical Key Figures - KB31N/KP46
16 - Variance Calculation of Process Orders - KKS1
17 - Settlement of variances - CO88
18 - Assessment cycles - Aux/WH CC to Main CC - KSU5
19 - Assessment cycles - Functional CC to SBU CC - KSU5
20 - Assessment cycles - SBU CC to COPA - KEU5
21 - Profit Center Reposting - 9KE0
22 - Balance Sheet Adjustment calculation - F.5D
23 - Transfer Profit Center to AR & AP - 1KEK
24 - Transfer Inventory to PCA - 1KEH
25 - Assessment Cycle - Dummy PC to SBU PC - 3KE5
26 - Check for "Delivery made, not Invoiced" - VF03
27 - Match GL and PCA - KE5T
28 - Match PCA and PA
29 - Top Down Distribution in COPA - KE28
30 - Reclassification of GL balances
31 - Balance Carry forward (Year End Only) - F.16
32 - PCA Balance Carry forward (Year End Only) - 2KES
33 - Transfer to FI - 1KE8
assign points if useful -
Time type Initialization based on financial year instead of calendar year.
Hi All,
I'm facing this problem. By using time type i'm capturing the no of worked days for a calendar year. This Time Type is used for calculating Privilege Leave which will be divided by 20 in the year end for Quota calculation. But when I run PT60 for the period 31.03.2014 to 01.04.2014. The Time types are automatically getting Initialized.
Here Time Evaluation is running based on financial year not as calendar year ? How to change the same to calendar year.
Already I have searched few solution here. As per the below link
PT60 generating for financial year but not for calendar year . But i'm facing the same issue.
Please suggest me the solution for this.
Regards
JaganHi Vivek and sikandar,
Thanks for the immediate response.
The Time evaluation is running for Financial year (Apr - mar). But I need it to be run for Calendar Year. I gave PL Quota Time Type as an Example. But its happening to all the Time types.
Pls suggest me how to run Time evaluation for calendar year.
Please see the screenshot below (Time Type 9t01, 9t78, 9t80)
All the above three time types are getting initialized on April, but i want this to happen on 1st Jan.
I'll share my PCR if needed.
On 31.03.2015
On 01.04.2015
Thanks and Regards
Jagan -
How to shift to new financial year
Hi All,
I would like to know the process to shift to new fiscal year, as from April new financial year is starting.
so what i hav to do, is there any way in B1.
ArteeYou may check these documents:
Tips in Year End Closing (Documentation Resource Centre)
[https://websmp205.sap-ag.de/~form/sapnet?_FRAME=CONTAINER&_HIER_KEY=701100035871000437965&_OBJECT=011000358700001111052006E&_SCENARIO=01100035870000000183&]
Expert Empowerment Session
[https://websmp102.sap-ag.de/~sapidb/011000358700001209192007E/EoP_YE_2007.pdf]
The link provides tip and tricks when doing a Year End Closing (using the Period End Closing function).
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