Closing Activities in General Ledger Accounting in fico

Purpose

In this process, you first reconcile the debit and credit balances of the posted documents with the debit and credit balances of the transactions figures in A/P, A/R, and the general ledger, in order to check the consistency of the data in the system.

You then complete various closing activities: Foreign currency valuation of assets, accruals and deferrals, analysis of the purchase orders in process, and clearing of accounts.

In the last part of this process, you run a few programs that document the accounting documents (document journal, list of G/L account postings), and then create financial statements.

To avoid output errors, check your print settings before starting this process chain.

1. To do this, select System
® User Profile ® Own Data.
2. Choose the Defaults tab, and then enter the following data:

Field	Data
Output device	Name of printer you wish to use

3. Choose .

You can find more information about this process under .

Process Flow

You can find the data for this process under .

1. 
   
Reconciliation Documents - Transaction Figures
2. 
   
Accruals/Deferrals: Entering Rent Expense
3. 
   
Accruals/Deferrals: Creating Accrual/Deferral Postings
4. 
   
Accruals/Deferrals: Creating Reversal Postings
5. 
   
Foreign Currency Valuation of Balances: Entering Bank Postings
6. 
   
Foreign Currency Valuations of Balances: Entering Exchange Rates
7. 
   
Foreign Currency Valuation of Balances: Performing Valuations
8. 
   
Foreign Currency Valuation of Balances: Processing Batch Input Sessions and Displaying Posting Documents
9. 
   
Analysis of GR/IR Clearing Accounts: Entering Material Orders
10. 
    
Analysis of GR/IR Clearing Accounts: Entering Goods Receipts
11. 
    
Analysis of GR/IR Clearing Accounts: Running Programs
12. 
    
Analysis of GR/IR Clearing Accounts: Processing Batch Input Sessions and Displaying Posting Documents
13. 
    
Automatic Clearing of GR/IR Clearing Accounts
14. 
    
Compact Document Journal
15. 
    
Balance Audit Trail: Compilation of G/L Account Postings
16. 
    
Creating Business Reports
17. 
    
Sending Business Reports
18. 
    
Receiving Closing Reports
19. 
    
Information on Exchange Rate Types
20. 
    
Lowest Value Principle
21. 
    
Batch Input Session
22. 
    
Analysis Information
23. 
    
Information on Creating Business Reports