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Year end closing in SAP Business one

Dear Experts,

We are in the process of closing the year and this is the first year closing for us in SAPB1. I just want to know that after we close the period , and found that the balances are not correctly transferred to retained earnings account , can we reverse the closing transactions , I need to know the step if system has the option.

Also , once the year is closed we assume that period cannot be reopened at all even by the super user .

Please clarify

Regards

Yogish Shenoy

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3 Answers

  • Best Answer
    Posted on Jun 08, 2019 at 01:58 AM

    Hi,

    Its not possible to reverse period end closing transactions. There is no option from the SAP to reverse.

    The best practice for year end closing is,

    1. Backup the database before year end closing

    2. Make sure period end closing amount and audit amounts are correct.

    3. Inform all users to logout SAP while performing Year End closing to avoid any transaction by user.

    4. If any mistake, you can restore the backup from step 1.

    Regards,

    Nagarajan

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  • Posted on Jun 05, 2019 at 05:38 AM

    Dear Yogish Shenoy,

    1. While year end closing, SAP Just transfer the Revenue and Expense account balance in BS account. So if you required you can reverse it by simply doing JE, but after account team approval only. So they can get idea while they are working on BS.

    2. If you have done period end closing for the Year, and if you wish as end user can not do transaction in that period, set period status as "Locked", once account team said to open period then only for time being open that period.

    Hope your doubts has been clear.

    Have a nice day !!!

    Best Regards,

    Sandesh Shinde

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    • Dear Mr. Sandesh

      Thank you for your email. With regards to passing the JE for reversal of closing period, would not that be a purely manual with all the GL of revenue and expenses to be used manually ?! . Does SAP B1 has the option to reverse the closing year entry ?

      Secondly , once the right year entry is made we do not want the period to be unlocked by even admin or super user as the year end entry is passed and no way to pass any entry even unintentional entry . Is that possible .

      Regards

      Yogish Shenoy

  • Posted on Jun 07, 2019 at 05:48 AM

    Dear Yogish Shenoy,

    1. What is meant by period end closing, it means, system pass all balance from revenue and Exp in define BS account, so you just need to pass reverse JE for those entries/amount which you want to reverse.

    2. Yes, I said to lock period, means no one and nobody can post entries in that lock period.

    I just suggested that, if you want to pass entry, in extreme case, then only super user can unlock that period to do entry. It is just suggestion and also it is tolaly depend on role and permission given to user.

    Hope your questions and doubt has been resolved.

    Revert for any issue.

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