Project Systems - Outstanding Balances in Previous Financial Year

Question

Hi gurus
I recently joined a company that implemented SAP PS and IM
It became apparent that year end processing was never completed. Amongst others, project balances was never settled (AUC as well as settlement to CO cost centres)
How do I handle this as the previous finacial year is closed? An option could be to get auditors involved, open a special period in the previous FY and settle, or to repost cost into the current year in which case this will affect current budget, previous years actuals, current year actual etc. Any comments

Answer 1

Hi WR
Thanks - you have confirmed what we've thought. The problem however is that the following took place:
Debit balances on projects (which corresponds to a debit balance on a G/L account) were never settled via PS, but were manually journalled out from the G/L account to the receiver. Hence the G/L account for projects is correct, but the projects still have balances on them. If we settled this now in the prior year, we will have to manually offset the one account to another to get the nett effect to be 0. So in effect, there should be no change to the prior year figures. Shoud we do these postings in a special period (i.e. period 13). Thanks