Contract Accounting - Daily and Monthly Closing (2BK)

Contract Accounting - Daily and Monthly Closing (2BK)

Daily and Monthly Closing allows you to prepare and carry out the activities required for day-end and month-end closing for Contract Accounts Receivable and Payable (FI-CA). The major activity for closing is the reconciliation between Contract Accounts Receivable and Payable and General Ledger (FI-GL). In addition, you can write off uncollectible receivables in Contract Accounts Receivable and Payable (FI-CA).

Key Process Steps Covered

  • Close reconciliation keys
  • Close an accounting period
  • Transfer FI-CA total records to the General Ledger
  • Check the reconciliation between open items and the General Ledger
  • Write off open receivables and credits of a business partner
  • Display write-off history
  • Doubtful receivable
  • Foreign currency valuation

Benefits

  • Perform simple write-off process using reason codes
  • Ensure consistency between Contract Accounts Receivable and Payable and G/L during closing
  • Guarantee audit-proof data with reconciliation

Additional Information

  • This scope item requires an additional SAP S/4HANA Cloud license

Where is Contract Accounting - Daily and Monthly Closing(2BK) being used?

This Scope item is used in the following way:

  • As a core function of Subscription Billing and Revenue Management within Finance Scope Item Group

No Process Flow details available for scope item Contract Accounting - Daily and Monthly Closing(2BK)-s4hc-2111
Ref: Finance of SAP S4HC-2111
Best Practices related to S/4HANA*1) Yearly Updates are released per September of each year
*2) The Quarterly updates are released per Februari, May, August and November
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