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: 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)
- Labels to be used: country_accounting, france, financial_accounting
- E.g. 1: WW Operation in Financial Accounting under domain "Central Finance Processes & Compliance":
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
Responsibility area:
Table of contents
Scope
ERP
Frequency
References
FBL3N
FS10N
KO88
KOB1
Forms
Attachments
<< US - 7424 - Legal Provisions Reconciliation >>
1. Objective and Scope
1.1. Objective of this Operation
The purpose of this document is to explain how to perform the reconciliation for legal provisions to Legal Team for 7424 company code in WP1 system.
The Legal Team needs it updated quarterly and at the day it is being done to decide if increase or decrease a provision in account 45910000 in 7424.
They check only corporate provisions, the GBU provisions is checked by each GBU and it is not takes in this procedure.
1.2. Scope
This procedure is applicable for 7424 company code on quarters.
It is done on D+10 or in the mid month.
2. Definitions
See Finance Glossary:
3. Tasks description
3.1. I Update the Reconciliation
3.1.1. I Download the Reconciliation File
Go to Legal Provisions folder in Gdrive and download the last version, it should be the last quarter file named "Legal Accruals Month YYYY MM.DD.YY updated".
In the file, there are 3 main tabs:
- Tab SAP Data = data pulled from SAP from account 45910000;
- Tab Payment Details = data pulled from the internal orders related to legal provisions pulled from KOB1 transaction;
- Tab Pivot = shows the values per type of provision;
3.1.2. I Update the Reconciliation
After downloaded the file, enter in FBL3N and include:
the account 45910000;
company code 7424;
the date from last quarter to current date;
layout /ARANAM;
After execute it, extract it and include in the reconciliation file, tab SAP Data, what is CBS business only:
List > export > spreadsheet
Normally, the CBS values have an assignment with CBS market or the order that the settlement was done, or in the text.
Remember to include correctly in the columns.
Column K = balance in the beginning of the year, it should match with FS10N value in the beginning of the year;
Column L = Accruals increase;
Column M = Accrual Release;
Column N = payments done through the internal orders;
Column O = Balance at current date (there is a formula considering the calculation =N+L+K+M), it should match with FS10N current date;
Column R = GBU corporate;
Column S = description of the type of the legal provision (normally the details are in the internal order);
After categorizing correctly, update the Pivot tab with the new information.
3.1.3. I Update the Payment Details
In tab Payment Details, you should include the details from the internal orders that affects the account 45910000.
To see this, check the text in the items in FBL3N, the SA documents, which are internal order settlements, will have a description of the internal order code.
Take that and open in KOB1 transaction code, include:
orders;
date from last quarter to current date;
layout = /PVZ-order
After execute it, filter doc type column removing the SA documents - it is related to order settlement, which will zero out the order.
After that, extract the items and include in tab "payment details".
The value in this tab should match the value you have in the Pivot table for "sum of payments". If it does not match, then you classified something wrong in the SAP Data columns L to N, or there is something in the order for the current month that is not settled yet.
If the problem is the settlement, then settle the order in KO88 transaction:
order;
settlement period = current month;
posting period = current month;
Fiscal year = current year;
processing type = automatic;
test run = check the box to execute in test mode if you want so confirm the value and where it will hit; uncheck the box to execute it in real mode;
After execution, there will be one more line item in account 45910000 that needs to be included in SAP Data tab. So go to FBL3N and extract the item and include in the reconciliation file and classify it as "payments".
Then, the pivot table needs to be updated and the value should match with the "payment details" tab value.
Check the beginning and final balance in FS10N transaction, they should match with the Pivot table values.
3.2. I Share the Reconciliation File and Save to Gdrive Folder
3.2.1. I Share the Reconciliation File
Share the reconciliation file with the legal team. Should be the contacts below:
Lauren (lauren.podesta@solvay.com) - Legal
Jennifer (jennifer.turner@solvay.com) - Legal assistant
Martin Bright (martin.bright@solvay.com) - CAM
Marc Mistiaen (marc.mistiaen@solvay.com) - CBS controlling
Thomas Irvin (Thomas.Irwin@solvay.com) - Regional Legal
The email subject can be "7424 Legal Provisions Month YYYY".
The Legal Team can reply to the email requesting to increase or release the provision. It should impact the legal cost center 0249-5650 and cost element 98300300.
Email example:
3.2.2. I Save the Reconciliation in the Gdrive Folder
Do not forget to save the current version in the Gdrive folder Legal Provisions.