Clear Revenue/Cost Balances
Explanation
Use this activity to create a voucher that contra-posts all revenue and cost balances
for an accounting year. While this voucher is
stored in the hold table, it becomes possible to remove or modify the transactions and to add
new transactions.
The Clear Revenue / Cost Balance voucher will post the
difference from the revenue and cost balances to a profit or loss account
defined with posting type GP8. If the revenue and cost accounts balance, the
voucher will only contra-post the revenue and cost accounts.
Prerequisites
- A year closing period must be created.
- The user must be connected to a user group defined
for year-end periods.
- This user group must be connected to the actual year
closing period and to a voucher type defined for this transaction.
- The voucher type used for clearing should be
set up as General Ledger.
System Effects
A voucher that contra-posts all revenue and cost
balances for an accounting year is created.
The Clear Revenue / Cost Balance voucher will post the
difference from the revenue and cost balances to a profit or loss account
defined with posting type GP8. If the revenue and cost accounts balance, the
voucher will only contra-post the revenue and cost accounts.
When the voucher is updated to the general ledger, the
balance for all revenue and cost accounts for the accounting year is 0.
Window
Clear Revenue/Cost
Balances
Related Window Descriptions
Clear Revenue/Cost Balances
Procedure
Use the following procedure to clear revenue and cost balances:
- Open the Clear Revenue/Cost Balances window.
- Enter the accounting year. Use the List of Values to select an accounting year that has
a year closing period in Open status.
- Enter the user group. Use the List of Values to select a user group valid for the accounting
period.
- Enter the voucher type. Use the List of Values to select a voucher type that belongs to the
Function Group M, Manual Vouchers. The List of Values only contains voucher types that are valid
for the user group.
- Select the check boxes appropriate for summarization to create correct
counter-postings on balances.
- Click OK.