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

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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?

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