on 01-02-2012 6:23 AM
Now we have come to the opening of a new Fiscal Year.
Kindly advise me which should be the first transaction that is to be done from Asset Accounting ? :
1. Fiscal Year Change - Asset Accounting (Tcode AJRW)
2. Year End closing-Asset Accounting (Tcode AJAB)
We have to do fiscal year change first. You cannot post any entries in new fiscal year without doing AJRW because system will automatically prompt you for fiscal year change.
Closing asset fiscal year should be done only after ensuring all activites of previous year is complete.
AJAB can be done little later also as there is no harm in having two asset accounting years open
Malathi
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Hi:
AJRW is only a technical step so that your asset accounting reports can be used in new fiscal year. AJAB should be done when you are sure that all of the year end closing activities for assets have been done , upon execution of AJAB system closed previous fiscal year for asset posting (OAAQ will show it) and opens new fiscal year . I hope it will help you.
Regards
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Hi:
Execute AJRW...This will make change fiscal year for all asset reporting. Then run AJAB this will close asset year . Please refer to the link given
http://help.sap.com/saphelp_46c/helpdata/ru/6e/1222ad9f0411d189b80000e829fbbd/content.
Regards
Hi
You are correct. You can also refer to the below sdn wiki link for year end activities
http://wiki.sdn.sap.com/wiki/display/ERPFI/FICOPeriodEndActivities-+Periodicity
Malathi
Ok Malathi. One more assistance, pl.
I tried to close the fiscal year 2010. System has issued error message that for two assets depreciation was not completely posted for the year 2010. Now we are in 2012. How can I post the depreciation for those assets relating to the period 12 of the year 2010 ? Can I do the AFAB through a 'repeat' run or 'restart' run mentioning the asset numebrs ?
Hi
You will not be allowed to close a fiscal year unless the depreciation is fully posted. But to post the depreciation, you also need to have FI accounting period open. If this scenario is in your production system, please enquire why depreciation was not posted for these two assets when books of accounts were finalised for 2010.
You have to open 2010 accounting period, run AFAB in repeat mode for last period to post the depreciation. Then you have to close fiscal year 2010
Malathi
Dear Nikatha,
Please do the Asset year end process for 2010 first (Only AJRW and AJAB)
For 2011 you have to do only AJRW. Asset fiscal year close for 2011(AJAB) will do subject to your year end activties.
If you are not doing the Prior Years Asset year end process , then you cannot change the Fiscal year in AJRW to 2012.
This is a standard behaviour built in Asset accounting.
Please do the above process and let me know.
Thanks
Manu
Edited by: manucs on Jan 2, 2012 12:52 PM
Thanks to you all for the valuable inputs
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I posted the pending depreciation for the closed year 2010. Now I tried the AJAB asset fiscal year closing for 2010. It has executed and however, the year is not closed. System says 'other errors' but no description of the error is available. How can I resolve this ?
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Dear Niktha,
ok..do one thing,please check the data in Field -ABGJA in table T093B.(its nothing but the status of the last closed fiscal year)
Also check the data in field -LGJAHR in table T093C. This is for checking the status of Last fiscal year opened by the fiscal year change.(ie current fiscal year opened in Asset accounting)
Please let me know the status of all these above info..
But i have one more concern /worry about the process you have done to close this issue, why you have re-runned the depreciation postings for closed fiscal year again.This is against the accounting Principles.
Depreciation Postings to the already closed fiscal year would cause a different balance in G/L. This is not acceptable. As a general rule,fiscal year must be closed for all the Subledgers (including FI-AA) before closing the fiscal year in FI-G/L. This is one of the main Accounting Principles, and must always be known by users before proceeding to the fiscal year closure, as this incorrect handling can lead to serious inconsistencies in the G/L balance.
If the balance sheet is not testified, then only you can performed the depreciation postings for the prior years.
Any how,please let me know... .
Thanks
Manu
Edited by: manucs on Jan 3, 2012 8:20 AM
Thanks for the inputs.
If I run depreciation for the year 2010 after opening the posting periods, and the books are updated, will the change in the retained earnings account automatically carried forward to the next years ? i.e. do I have to execute the balance carrfyward program again for the previous years ?
Dear Niktha,
Again iam saying, all these are against the Accounting Principles. If the balance sheet is not testified, then only you can performed the depreciation postings for the prior years and if you are doing the deprication postings for prior years, then the same will reflect in your retained earning account as well as your Trial balance.
Any how its not a best practice to do the GL balance carry forward actvitiy again and again.
Check with your Business and do accordingly.
Thanks
Manu
SAP GD.
Thanks for all the inputs. I am extremely grateful to all of you..
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