You have just completed the corporate close. Now you need to prepare for next year. You'll run balance carryforward to populate the balance sheet opening balances and other selected FS items into period 1 of the next year.
Running Balance Carryforward for the New Year
Objective
After completing this lesson, you will be able to run balance carryforward for the new year
Consolidation Process: Run Balance Carryforward
Run Balance Carryforward
Balance carryforward is run in the data monitor for the first period of the new year.
To run the Balance Carrryforward task, follow these steps:
- Set your global parameters to period 1 of the new year.
- Run Balance Carrryforward.
- View the log.
The log only displays FS items where the source FS item isn’t the same as the target FS item. For example:
- Current-year retained earnings 317000 in the prior year is the source.
- Prior-year retained earnings 316000 in the current year is the target.
In the following image, the Item PY: 317000 for 2022 is carried forward to Item CY: 316000 in 2023.
In the Prior-year retained earnings and subitem rollups example, the 2022 value for prior-year retained earnings resides on the 915 variation transaction type as part of a start-up scenario data. Normally, prior-year retained earnings will only have values for the opening balance.
In the Prior-year retained earnings and subitem rollups example:
- FS item 311000 Issued Capital was carried forward to the same FS item for the local currency and group currency amounts.
- FS item 316000 Prior-year Retained Earnings for 2023 = prior-year retained earnings 2022 + FS item 317000 current-year retained earnings for 2022.
Run Balance Carryforward and Report on the Results
Business Scenario
To prepare for a new year, the prior-year balances are rolled over into the new-year opening balances.
What skills will you develop in this practice exercise?
- Set your global parameters to 2023 January
- Run the balance carryforward task
- Report on the data that has been carried forward
Consolidation Process Completed
You have successfully performed the corporate close with SAP S/4HANA Cloud for Group Reporting. Congratulation Anthony!
Use this knowledge to further enable yourself as an intermediate business user, and feel free to check the following link to gain further insight on the discussed topics:
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