Introduction

The module Mid-Year Closures allows the operator to manage off-balance simulations of periodic balance data: a series of automated procedures for taking and valuing typical records are available, which allow for the creation of a periodic competency balance. The module is present in the Controlling area and reads source data from general ledger.

Getting Started

There are no specific configuration tables other than those necessary for the valuation of the various source areas of data managed by the procedures of the module itself.

• Create a Create a new mid-term accounts closure, taking the balances of both general and analytical data from General Ledger.

• Apply the Adjustment Records, to value the accruals of costs/revenues outside the period of competency of the balance simulation.

• Add the Integration Records, to value the accruals of costs/revenues for records outside the closure but with economic values pertinent to the period.

• Perform the Purchases and Sales Area Valorization, to add the documents in transit in the active and passive cycles.

• Execute the Fixed Assets Depreciation Retrieve, to insert the depreciations of the closure period, according to civil/tax accounting logic.

• Manage the Inventory Accounting, to automatically value the initial and final inventories of the period in question.

• For multi-company installations, process the Balance Sheet Consolidation, to create a consolidated mid-year closure valued across the various companies managed in the installation.