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Former Member
Nov 28, 2011 at 06:51 AM

How to Clear GL accounts at Periode End (Month/Year) ?

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Hello Expert, ..

Im very basic on SAP FI and I need some explanation about Clearing activities at Period-End (month & Year).

My questions :

A) Do we have to Clear every GL/Vendor/Customer Account at every Month/Year-End ?

If so, Why? What is the consequence if we Dont Clear them ?

B) I have this situations :

1) After I execute F.19 at Period-End, How do i CLEAR some GR/IR account that Have Not being Invoiced yet?

2) on December 2010, I have Post a Pre-Paid Insurance Exp like this:

Pre-Paid Insurance $1.500

Cash -$1.500

*) This Pre-Paid is used to pay Actual Insurance Exp for Dec 2010, Jan 2011, Feb 2011 ( $500 each Month)

So, I use Reccuring Entry to allocate these Exp.

(31/Dec/2010) --> F.14

Insurance Exp $500

Pre-Paid Insurance -$500

*) How can i clear this Pre-Paid Insurance at the End of Dec 2010 ? Since the Balance on 31/Dec/2010 will be at Debet $1.000 ($1.500 - $500) Not Zero Balance.

Thanks for your kindly helps

Regards

-Luna-