When you create a cycle to distribute corporate insurance costs in WP1, you must follow the following rules

STEP 1

Create a distribution cycle with KSV1

1. Cycle = CCCCIN

2. Start Date = 01.01.20YY to 31.12.20YY

3. Text = Corporate Insurance Cycle

4. Uncheck "Iterative"

 

 

STEP 2

Create 8 segments detailed below

 

Detail of each segment

1

Segment name

2

Segment description

3

Var.portion type

4

Cost center

5

Cost element

6

Cost center

7

Stat. key fig.

98300259

D&O/EPL Liability

Actual Statistical Key FiguresCCCC-5998

98300259

CCCC

LIAB

98300252Property

98300252

PROP

98300255Broker Fees/Comm

98300255

BRKR

98300256Transport

98300256

TPT

98300253Environmental

98300253

ENV

98300250Crime

98300250

CRM

98300260Credit

98300260

CRT

98300251Liability (General and Excess)98300251LIAB

 

 

 

 

8 Comments

  1. Antonio Sanchez

    GONCALO, Ana Catarina, remember; if we  use this as base for PF1; we have to remind everybody that receiver CC has to be organizational CC(no reporting)

    1. GONCALO, Ana Catarina

      Yes Antonio, I had a meeting today with the GL Team, who is in charge of these cycles. This will be changed as of this closure (still under analysis but in principle it will be used production CC, as in the other segments).

      1. Antonio Sanchez

        Ana; sorry; i am not that good at Confluence...

        if today Insurance is sent to R27900 and R33310/R38100(this not too clear) as i remember was some cases...then the receiver can not be production CC; as in this case it would impact Stock and Cogs R25490; which is the rule provided by Rosario/Insurance team by the time....

        the receiver CC should be aiming to R27900 or R33310 etc; later on:...

  2. Sevilla, Rosario

    Hello GONCALO, Ana Catarina and Antonio Sanchez

    Please refer to the  Insurance Matrix   document in Teamsite that provides the BFC heading by type of Insurance ( for PF1 and WP1)

    For Insurance type  that should be pointing to R25490 heading in PF1,  a production CC should be used  (for plants that are not "manufacturing plants", there is the option to chose the headings R27900 or R33310 instead) 

    Any questions related to Insurance, please keep in the loop as well Jae-Chul Han who has taken over this topic. 

    1. GONCALO, Ana Catarina

      Thanks Sevilla, Rosario. But the thing is that we are changing the cycles from assessment to distribution, and because of this we will need to adap the receiver CC. In the matrix it's showing the transport with CE 9611000001, but this was not the case, it was going to reproting directly, and that's why we have the isue now.

      João Saramago from the GL Team contacted Jae-Chul but is not in the office. But we are trying to contact Ana Silva also, not only due to her new role, but also because of her previous knowledge in this topic.

      Maybe we will follow the same type/codification of non-reporting CC that are used now to heading R27900, which is the one we want, what do you think?

      Thank you both Rosario and Antonio Sanchez

      1. Antonio Sanchez

        i agree Ana

      2. Ana Silva

        Hello

        I shared already with João Saramago that the  9611000001 was not being followed in the past as it was an additional step of allocation as we wanted to go to reporting directly.

        As I'm aware now there are changes due to SPS implementation.

        Just to keep in mind

        http://teamsites.solvay.com/sites/DCFI-CC-GAC/GroupIFRS/Wiki%20Pages/S03.02-IS-01-R112-I.6.aspx

        For Transport insurance as long as it arrives to R27900 by Business ok for me.

         

      3. Sevilla, Rosario

        Ok for me.

        GONCALO, Ana Catarina, could you please liaise with  GL team and ensure the teamsite  template is being updated accordingly?