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[sap-acct] SAP: Settlements and Year End Procedure

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Question from mthandenim on Jul 8 at 9:05 AM
SAP: Settlements and Year End Procedure

I just want to find out I am not familiar with SAP since we only started using the system last year October/November.

I have not yet settled all Capital Projects into AuC and into Fixed Asset Register (completed projects for 1617 financial period).

At the same time we have not yet performed the year end procedure. The year end was on 30th June 2017.

What is the way-forward? Can I do year end processes for 2017 financial period and thereafter perform the settlement per projects. The main reason why we are settling per project and per period:

(i) Is that some of the expenditure incurred on the project is not capital in nature,
(ii) When we are trying to perform settlement the amount that appear to be settled when viewing line items as per SAP is more than what we have spend per projects.
(iii) The expenditure that incurred per projects during the first and second quarter is still to be uploaded from legacy system into SAP.

Another issue is that we have identified infrastructure assets that have been purchased through Repairs and Maintenance which is normal expenditure account. We have done a journal to correct allocations, but I am not sure whether I have to create an asset after the journal has been processed or what. But the journal is not yet processed on the system.

Your assistance will be highly appreciated.

Mthandeni Madwe
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