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Chapter 19 ■ Customizing New General Ledger Accounting In this exercise, we will be looking at the closing processes involved in foreign currency valuation, balance carried forward, and reclassifying of GR/IR. We will not be looking at open and closing posting periods and the creation of financial statements, because that was already covered in Chapters 12 and 13. During year-end closing operations, new posting periods are opened and balances from the previous year are carried forward into the new fiscal year. Once balances are carried forward, you can then prepare and generate several reports (including financial statements for the period) and archive documents online that are no longer needed. Foreign Currency Valuation At month’s end, foreign currency valuation is usually carried out. This operation is important as it valuates all transactions in the period posted in foreign currency. When performing monthly foreign currency valuation, an exchange rate is entered for the month’s end. In order to generate financial statements , closing operations for foreign currency valuation have to be performed. For accounts run in foreign currency, you have to prepare and create the following items: • Foreign currency balance sheet accounts for the G/L accounts that are valuated in foreign currency • Open items in foreign currency open at a key date The system also allows you to perform the following optional activities: • Currency valuation per company code (local currency valuation) • Currency valuation per group currency (parallel currency valuation) • Use valuation procedure (for example, lowest value principle, strict lowest value principle, always valuate, and so on). ■■Note when financial statements are required on a monthly basis, you must generate foreign currency valuation for open items for G/L accounts and vendor/customer accounts. It is advisable that each valuation be run individually, since valuations are posted as batch input sessions. For example, separate batch input sessions are generated for G/L accounts and vendor/customer open items. Problem: Post some invoices for accounts receivable and accounts payable with foreign currency (for example, in USD or EUR). To execute foreign currency valuation, follow this menu path: Accounting ➤ Financial Accounting ➤ General Ledger ➤ Periodic Processing ➤ Closing ➤ Valuate ➤ Foreign Currency Valuation (New). Or use transaction code FAGL_FC_VAL. The Foreign Currency Valuation screen (Figure 19-28) is displayed. 459
Chapter 19 ■ Customizing New General Ledger Accounting Figure 19-28. Specifying foreign currency valuation Update the following fields: Company Code: Enter your company code (C900) in this field. Valuation Key Date: This date defaults to today’s date. This is the date the currency valuation is carried out. Valuation Area: Enter the valuation area key (GR) for your foreign currency valuation closing in this field. GR entered in the Valuation Area is standard for Group Valuation. Create Postings: Click the Create Postings checkbox. This will enable you to create valuation documents. Batch Input Session Name: Enter a name for your batch input session (FCV012015) in this field. There is no specific batch input session name, so you can enter any name that is meaningful to you. 460
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■ Contents at a Glance ■Chapter
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■ Introduction Real-Time Three-Ti
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■ Introduction SAP FICO FICO stan
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■ Introduction Chapter 14 deals w
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Chapter 1 ■ Customizing Organizat
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Chapter 2 ■ Defining the Chart of
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Chapter 3 Document Control In this
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Chapter 3 ■ Document Control ■
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How to Display Number Intervals Cha
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Chapter 3 ■ Document Control that
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Chapter 3 ■ Document Control Figu
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Chapter 4 ■ Defining Tolerance Gr
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Chapter 5 ■ Creating a General Le
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Chapter 6 Clearing Open Items In th
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Chapter 6 ■ Clearing Open Items P
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Chapter 6 ■ Clearing Open Items F
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Chapter 6 ■ Clearing Open Items A
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Checking the Company Code Settings
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Chapter 7 Maintaining Currency Type
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Chapter 7 ■ Maintaining Currency
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Chapter 8 Defining Adjustment Accou
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Invoiced But Not Yet Delivered Chap
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Delivered But Not Yet Invoiced Chap
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Chapter 9 Defining the House Bank I
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Chapter 9 ■ Defining the House Ba
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Make Global Settings for Electronic
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Chapter 10 Defining Tax on Sales an
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Chapter 10 ■ Defining Tax on Sale
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Chapter 11 Customizing a Cash Journ
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Chapter 11 ■ Customizing a Cash J
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Set Up the Cash Journal Chapter 11
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Chapter 12 ■ Financial Statement
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Chapter 13 Integration of FI with O
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Material Management (MM) Chapter 13
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Chapter 13 ■ Integration of FI wi
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Chapter 14 ■ Defining FI Accounts
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Chapter 15 Defining the Dunning Pro
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Chapter 15 ■ Defining the Dunning
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Maintain Dunning Levels Chapter 15
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Maintain Minimum Amounts Chapter 15
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Determine Call-Up Functions Chapter
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Summary Chapter 15 ■ Defining the
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Chapter 16 ■ Customizing Special
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Chapter 17 End User - Accounting Do
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Chapter 17 ■ End User - Accountin
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Posting Residual Items Chapter 17
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Display Account Balances Chapter 17
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Execute Dunning Chapter 17 ■ End
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Summary Chapter 17 ■ End User - A
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Chapter 18 ■ Customizing the Cont
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Appendix A ■ Useful General Ledge
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Appendix B ■ Some Useful Transact
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■ index Automatic postings, MM mo
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■ index Display actual cost line
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■ index G/L accounts (cont.) fiel
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■ index Posting rules (cont.) G/L
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SAP ERP Financial Accounting and Co
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This book is dedicated to God Almig
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■ Contents Opening and Closing Po
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■ Contents Prepare Automatic Post
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■ Contents Step 3: Assign FSV Nod
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■ Contents ■Chapter ■ 15: Def
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■ Contents Accounts Payable—Doc
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■ Contents Document Types 441 Def
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About the Author Andrew Okungbowa i
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