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FI has to be closed first and then only CO? Clarify Pls...

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FI has to be closed first and then only CO? Clarify Pls.....

Answer / ijaz hussain bukhari


Posting made at real time in FI and subsequently in CO. For
example if wants to post an expense in FI in Jul 2007 but
perod for CO is closed your posting will made in FI but no
entery shall be shown in CO. Resultantly when you reconcile
FI vs CO you faced a difference in balance.

For any help you can call me

Ijaz Bukhari-Lahore-Pakistan
92-333-4564811

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FI has to be closed first and then only CO? Clarify Pls.....

Answer / hardyal

The internal allocations such as Assessment & Distribution cycles, Order settlement, variance posting etc are to be done in CO. for this we need to close FI so that subsequent to such internal activities no further posting happen to CO which will affect the latter and create differences.

However B/S posting can be kept open

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FI has to be closed first and then only CO? Clarify Pls.....

Answer / sridhar.k

Which expenses we have entered in fi that is updated in
accounts. That effects on financial statements. Controlling
is for control of particular thing. It is not effect on the
financial statements.Only for control and reporting purpose

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FI has to be closed first and then only CO? Clarify Pls.....

Answer / reshmi

FI doc will be updated on the basis of transaction entry for daily business operation but in order to control management reporting and inter control purpose we do maintain controlling area settings.So it is cleared that controlling doc will be generated from FI doc itself through distribution, assessment, settlement of internal order and reposting etc. So until n unless we donot close FI how can I close CO?????????

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