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about period end closing in SAP business one

Apr 03 at 03:56 AM

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Dear Experts

If client forget to do the period end closing with 2 financial years, can they do it now?

Can they do 2 period end closing for 2016 and 2017?

or Can they do 1 period end closing for 2017 only?

Which one is better? And impact?

Regards

Edmund

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4 Answers

Agustin Marcos Cividanes Apr 03 at 08:43 AM
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Hi

I would do it in the logical order: first 2016 and then 2017.

Remember to backup the database before do it.

Kind regards.

Agustín

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Abdul Mannan Apr 03 at 11:39 AM
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According to Accounting practices it should be for each year end because at each year end figure from Profit and Loss statement is transferred to balance sheet account. So they should do it in logical order for each year.

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Edmund Leung Apr 06 at 06:49 AM
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Thanks all.

I would like to inform the client.

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Jitin Chawla
Apr 09 at 05:58 AM
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Hi,

Period End Closing is the process to move the balances of the Profit & Loss Account to the Period End Closing account, determine the Profit and move the balance to the Retained Earning Account so that the new year can start afresh for the Income and Expenditure accounts.

You need to run the Period End Closing for the complete year in sequential order so that the correct balances are transfered to the Retained Earning Account.

regards,

Jitin

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