Closing Operations in Accounts Receivable and Accounts Payable Accounting in FICO

Purpose

In this process you carry out year-end closing in Accounts Receivable and Accounts Payable.

You go through the following steps:

• Generation of account statements: To check posted documents within a period.
• Generation of balance confirmations: To check the number of receivables and payables.
• Individual value adjustments using the special general ledger technique.
• Valuation of open items in foreign currency including the posting of the gains or losses due to exchange rate fluctuations.
• Sorted lists of open items with regrouping of items for changed reconciliation account, vendors with a debit balance and customers with a credit balance according to remaining life.

For more information about this process, see .

Prerequisites

To avoid output errors, check your print settings before starting this process.

1. To do so, choose System
® User Profile ® Own data.
2. On the Defaults tab page, enter the following data:

Field	Data
OutputDevice	Name of printer you wish to use

3. Choose .

Process Flow

You can find the data for this process under .

Correspondence: Entering Invoices

Correspondence: Generating Account Statements

Correspondence: Generating Balance Confirmations

Individual Value Adjustments: Entering Invoices

Making Individual Value Adjustments for Doubtful Receivables

Individual Value Adjustments: Displaying Customer Line Items

Valuating Open Items in Foreign Currency: Entering Invoices in Foreign Currency

Valuating Open Items in Foreign Currency: Posting Exchange Rate Differences

Valuating Open Items in Foreign Currency: Displaying Documents

Allocation of Receivables and Payables According to Remaining Life: Entering Invoices

Allocation of Receivables and Payables According to remaining Life: Executing Programs

Allocation of Receivables and Payables According to Remaining Life: Generating Postings