Year-end closing in Italy (RFSUMB00)

At the end of the fiscal the account balances need to be transferred to next year. In SAP system the Balance Carryforward (tr. F.16) procedure takes care of this.  The balances of Balance Sheet Accounts are moved as such.  The balances of the Profit and Loss Accounts are carried forward to Retained Earnings account(s) defined in customizing. In some countries actual year-end profit and loss statement postings are required by law.  Year-end closing in Italy (RFSUMB00) is one example.

For these countries SAP provides special programs both for new G/L (1) and Classic G/L (2).

SAP Opening/Closing entries

There are two sets of programs for this purpose, one for New GL (FAGL*) and one for Classic GL (F_*, program RFSUMB00). Both configuration settings and postings are required.

For quite a long time ago I had a customer with an Italian daughter Company and I faced this this challenge of year-end closing in Italy. SAP provided very little advice and the methodology was “trial and error”.

Year-end Closing in Italy (RSFSUMB00) for me was “a once in a lifetime experience” in SAP Enterprise (4.7, classic G/L), but as the procedure still seems quite the same, I will share the document I made then. It will give some insight of the configurations and the challenges you will encounter.

It is important to make the closing postings in one of the special periods (13-16), because these entries will “empty” the accounts and set the account balances of the used period will be zero.

New GL: As this is only legal requirement use a non-leading Ledger (e.g. L1)  for this. SAP Wiki: Closing/Opening Postings at Year End (New GL)

My example is from time before SAP New GL and was done with Program RFSUMB00. You can download the document from the link below.

Year-end closing in Italy (RFSUMB00), classic legder