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

      • E.g. 2: France Operation in Financial Accounting:
        • 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 


Domain: Financial Accounting

Responsibility area: Ensure consistency of data

Table of contents 

By default the table of contents displays Heading 1 & Heading 2 (other levels can be added)


Scope

3. Remove the icon when not applicable

ERP

4. Remove the icon(s) when not applicable

Frequency

5. Remove the icon(s) when not applicable

References

6. Add the link to SAP transaction(s) (when it exists)

F.16

F.07

ACACCARRYFORWARD

Forms

7. Insert the links accordingly and change the link text with the Form name


Attachments

8. Add the link to attachments or external links

https://aodocs.altirnao.com/?locale=en_US&aodocs-domain=solvay.com#Menu_libraryHome/LibraryId_TvnJQkV32rxEnDMecO

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1. Objective and Scope

1.1. Objective of this Operation

When the fiscal year changes, the item balances need to be carried forward from the old fiscal year to the new fiscal year.
The balance carry forward function carries forward the designated item balances into the carry forward period (period 000, new year).

1.2. Scope

The scope are all active PF2 and WP2 companies.

2. Definitions


See Finance Glossary:

  • ...


3. Tasks description

The SAP system uses the following logic:
Balance sheet items are generally always carried forward.
Income statement items are only carried forward if explicitly designated as carry forward items. (not common)
Statistical balance items are generally always carried forward.
Statistical flow items are only carried forward if explicitly designated as carry forward items. (not common)

In Syensqo only balance sheet items (statistical or not) are carried forward.
I/S items are transferred to the retained earning account.

3.1. I manage Balance CarryForward Variants in FCC

3.1.1. I update the variants for the Balance Carryforward based in the List of Entities


I update the variants for the Balance Carryforward before the Year End Closure. In order to do it properly, I must retrieve information from the AODocs library  F Finance Legal Entities management SCO library > Legal Entity Card.



Afterwards, all the variants must be extracted from SAP in order to compare which companies are being considered, which shall be included or excluded from the variants (new companies/sold/liquidated companies).

 The variants are worldwide and are the following:


Transaction

Variants
PF2 AllWP2 All
F.16CARRYFORWARDSCCARRYFORWARDSC
F.07CF AP AR SCOCF AP AR SCO
ACACCARRYFORWARDCFACCRUALENGSCCFACCRUALENGSC


To update the variants, I can enter each transaction and add or remove companies from the company code selection field. Afterwards, the FCC jobs will be updated accordingly, bearing in mind that the Balance Carryforward is a Yearly task and, therefore, should be included in the Task Group dedicated to GL team, FSL_TG_GLS, in folder JANUARY.


Transaction

Transaction description

Timing

F.16

GL balances

from January 1st mid night to January 31st

F.07

Payables and Receivables

from January 1st mid night to January 31st

ACACCARRYFORWARD

Accrual Engine

one time run in January/February



 


3.2. I run Balance CarryForward for GL Balances


I run Balance Carryforward for GL Balance by running transaction F.16. 



I must take into consideration that I DO NOT flag “balances in retain. Erng acct”. 
Include one or several companies; if available (recommended), use a variant for the companies to be run. 
The transaction can be ran several times in January, so I may create one job to run every day from 1st of January at midnight (taking into account the different time schedules) to 31st of January. After this date, the transaction will run only by request from the local finance team. 
The balance carry forward are automatically updated when the balances of the previous year have been changed due to postings in the prior year end closing after the first execution of the transaction.

3.3. I run Balance CarryForward for Payables and Receivables


I run Balance Carryforward for Payables and Receivables by running transaction F.07. 



Enter the company codes to be carried forward and the new year.
“Flag” customers and vendors selection.
Unless specifically requested, do not flag “Detail log”. This indicator allows to display a line item per account and special G/L indicator which displays the amount by which the carry forward into the new fiscal year would change (in the test run) and/or changed (in the production run).
The transaction can be run several times in January, so create one job to run every day from 1st of January at midnight (taking into account the different time schedules) to 31st of January. After these dates, the transaction will be run by request from local finance team. 
The balances carry forward are automatically updated when the balances of the previous year have been changed due to postings in the prior year end closing after the first execution of the transaction.


3.4. I run Balance CarryForward for Accrual Engine


I run Balance CarryForward for Accrual Engine by running transaction ACACCARRYFORWARD.


Enter the company codes to be carried forward and the new year. The transaction should be executed after all items of previous year are finalized and executed once.

End of document.