Year End Closing Activities in SAP Business One

Year-End Closing in SAP enables users to create postings in the accounting system when a fiscal year or posting period ends. This function allows the transfer of previous profit and loss G/L account balances from one fiscal year or period to another.
The procedures described in this guide represent a concept that is generally applicable. Following activities are explained in detail:

  • Year End (Period End Closing)
    • Introduction
    • Process Flow
    • Description
  • Preparation
    • Backup
    • Checking Control Accounts
    • Exchange Rate Revaluation
    • Financial Audit Adjustments
    • Run Stock Audit Report
    • Run Profit And Loss Statement
  • Year End Closing
    • Year End Closing Process
  • Examples Of Possible Error Messages
    • Distribution Rule

Read more

Tips and Tricks for SAP Business One – 2

In my previous post, i shared SAP Business One Tips and Tricks document that i confronted at Clients First site. This is another tips and tricks document you are shown how to find out the description of a field in SAP Business One, the hierarchy of the default layouts when printing, in-depth workings of the Special Pricing functionality, what is a key pre-requisite for posting the journals generated from the Period-End Closing function and much more.

Questions you will find answer for are as follow;

  • What is the hierarchy of the default Print layout?
  • What Price does the price field in the Special Prices for Business Partners main window reflect?
  • Why an error message relating to date deviation appears in Period-End Closing function?
  • How to see the remaining quantities to be delivered to the customer?
  • How to Insert a Watermark in a Printed Marketing Document?
  • Why is the system giving this message: ‘Confirmation amount must be greater than zero [Message 173-18]’?
  • s there a quick way to access the explanation of a specific field in SAP Business One?
  • Non-Included Transactions in the Payment Wizard
  • How to record the validity of tax exemption certificates?
  • How to cancel a journal entry using today as posting date?

Read more

Tips and Tricks for SAP Business One – 1

This document contains useful tips and tricks for SAP Business one which include mainly; Calculation of Actual Component and Actual Product costs in production, and Gross profit in Sales BOM; How to stop users from creating/updating BOMs; How to populate Prior Period Bal in Customer Statements and Profit Centres in JE based on marketing docs.

The questions you will find answers for are as follow;

  • How are Actual Component and Actual Product Costs computed during a production process?
  • Why does an item which is defined as a Sales Bill of Material show 100% as gross profit in the Gross Profit window?
  • How to set up alerts for ‘Task’ Activities?
  • Where does the default ‘House Bank’ come from when using ‘Cheque’ as a means of payment in the ‘Outgoing Payment’ window?
  • Why are open A/R Invoices not shown in Recommendation Report during the Dunning Wizard run?
  • Why can users with ‘Read-Only’ authorisation to Price Lists not create or update Bill of Materials?
  • How is the field ‘Prior Period Balance’ populated in the ‘Customer Statement’ print out?
  • How is the ‘Info Price’ field used in Goods Issue function under Inventory -> Inventory Transactions?
  • Why are Profit Centres set in marketing documents not showing in journal entries?
  • How can we change the number of Invoice lines appearing in the Cheque for Payment stub?

Read more

SAP Business One..To Go

This book is intended to create a framework for further learning. First, we introduce SAP Business One and explain its general approach. Next, we cover the basics and explain the core functionality for keeping track of accounts and business partners, as well as the fundamental processes for purchasing and taking orders. Then we review the powerful functionality SAP Business One offers for manufacturing, sales using CRM, and reporting, as well as advanced forms of document handling and automation. At times, this book provides step-by-step instructions for getting things done. But most of all, it explains the way to think about SAP Business One so that inspiring ideas about how to put the product to work in your business will follow quickly. Read more