January 2025
Year-end Preparation
The annual financial statement work is one of the most important requirements for analysing the development of a company. Therefore, before auditing the annual accounts, you should check the preparatory work. After all, preparation is fifty percent of the rent! Examples include the inventory, opening balance, balance confirmations, buildings/operating equipment and numerous other pieces of information. Therefore, one should think about it in advance so that the year-end closing can start with a good feeling.
- Inventory as part of the year-end closing process
- Documentation
- Required lists for the annual accounts
- Balance confirmations for the year-end closing operations
- Subsequent acquisition costs
- Merge information
Courtesy of SAP Business One Blog
Period-closing from any transactions
Period-end closing is a critical step in maintaining accurate financial records. The accounting department verifies and adjusts transactions at month-end. Once validated, the period is closed to prevent further postings. To close the period, go to "Posting Periods" menu in "Administration"- "System Initializations". There are 5 status that can be set for a period. Click to learn more.
Article by PT. Sterling Tulus Cemerlang
Courtesy of STEM
Closing The Period From Any Transactions | SAP Business One Indonesia Tips | STEM SAP Gold Partner
Automatic closing period
When the company is at their fiscal year end, the User on SAP can change the period status to "Closing Period", so another user cannot make any transactions in the previous period. It becomes an easy job if one period consists of 1 year, but it will be a new challenge if you set for one period as 1 month or 1 week, this is a very important job. For that, we have a solution for you, SAP B1 can change period status automatically, you don't need to update one by one.
Article by PT. Sterling Tulus Cemerlang
Courtesy of STEM
Automatic Closing Period | SAP Business One Indonesia Tips | STEM SAP Gold Partner
4most Systems provides world-class, individually tailored and innovative business solutions for small, medium and large enterprises across industries and sectors. Established as an SAP Partner in 2004, we deliver ERP solutions utilising SAP Business One at the core. With offices in South Africa, Botswana and Namibia as well as a growing economic footprint in the DRC, Kenya, Zambia, Malawi and Tanzania, the company has a strong base, being the first and only partner to establish all-round SAP competency, offering over 30 years of experience and skills.
