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Tasks to be completed when documenting an operation (from creation to publication)
1. Enter the Title of the operation / page
2. Add the following Labels :
Scope of applicability: ww, country_accounting
Country or group of countries (if applicable): belux, china, france, italy, lam, nam, uk_ie, bulgaria, dach, netherlands, iberia, poland, latvia, australia, india, japan, south_korea, thailand, singapore, new_zealand, emea_transversal, apac_transversal
Unit and Domain according to the List of labels to be used in the Finance Service Line space
E.g. 1: WW Operation in Financial Accounting under domain "Central Finance Processes & Compliance":Labels to be used: ww, financial_accounting, central_fin_proc_compliance
- Labels to be used: country_accounting, france, financial_accounting
(for country operations, the Domain is always country_accounting)
3. Fill in all fields as described above
4. Name the title of each section using OPD methodology naming convention - Infinitive verb without the “to”, mainly action verb...something) - " I do something..."
5. Once the description of the operation is completed, ensure it is approved and published by launching the SBS-Finance approval workflow
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Responsibility area: Perform product costing monthly closing-ML |
Table of contents
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ScopeERP
Frequency
References Forms Attachments Previous OP <<
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1. Objective and Scope
1.1. Objective of this Operation
Usually the goods issue and the invoice is done in the same period so in the end of the month there is no need to make any additional postings to adjust stock accounts and profit and loss accounts.
However there are some situations in which goods issue is done in one month and the invoicing is done in another month. In these situations the stock is already issued but the customer may not yet have received it so it can be considered as stock in transit.
1.2. Scope
Finance Operations:
Run transaction Z1F_CLOSURE_CORR during closure, in order to guarantee that FI = COPA amountsThis procedure is applied to all companies WW.
2. Definitions
See Finance - Glossary:
...3. Tasks description
3.1. I understand the process of stock in transit
When there is an invoice, the cost of goods sold is posted in FI when the goods issue is done, but the amount in COPA it is only posted when invoice is done. So when there is stock in transit at end of the month, there will be differences in FI and COPA regarding COGS:
In theses cases it's necessary to run transaction Z1F_CLOSURE_CORR in order to eliminate this difference.
The program will analyze the deliveries already invoiced(in next month) and deliveries not yet invoiced(billing due list) and will automatically create a posting and reverse it in following month.
Until the invoice is issued the program will post and reverse a document every month.
The Cost G/L’s to be posted shouldn’t have cost element created because the posting should not have impact in CO module.
The Profit G/L won’t have any cost element because the COPA posting will be done in a separate document.
In some scenarios Z1F_CLOSURE_CORR will create automatically a posting that will reverse the FI posting done by the goods issue. This will postpone the goods issue posting to the month where the invoice will be issued so the cost of goods sold will be updated in COPA and FI exactly at the same time
In other cases the program will create a post to simulate the Invoice (IC) and update COPA. This will anticipate the Invoice to the month where the goods issue were done.
With this adjustment there won't be any differences between FI Module and COPA Module.
3.2. I correct the stock in transit side effect
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