{"id":539,"date":"2020-01-02T12:24:39","date_gmt":"2020-01-02T10:24:39","guid":{"rendered":"http:\/\/www.esfoor.fi\/en\/?p=539"},"modified":"2020-01-02T12:45:40","modified_gmt":"2020-01-02T10:45:40","slug":"year-end-closing-in-italy-rfsumb00","status":"publish","type":"post","link":"https:\/\/www.esfoor.fi\/en\/2020\/01\/02\/year-end-closing-in-italy-rfsumb00\/","title":{"rendered":"Year-end closing in Italy (RFSUMB00)"},"content":{"rendered":"<p>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.&nbsp; The balances of Balance Sheet Accounts are moved as such.&nbsp; 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&nbsp;law.&nbsp; Year-end closing in Italy (RFSUMB00) is one example.<\/p>\n<p>For these countries SAP provides special programs both for new G\/L (1) and Classic G\/L (2).<\/p>\n<p><a href=\"https:\/\/www.esfoor.fi\/en\/wp-content\/uploads\/sites\/3\/2019\/12\/Menu_ClosingEntries-e1576237022683.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"196\" height=\"199\" class=\"wp-image-1537\" alt=\"SAP Opening\/Closing entries\" src=\"https:\/\/www.esfoor.fi\/en\/wp-content\/uploads\/sites\/3\/2019\/12\/Menu_ClosingEntries-296x300.jpg\"><\/a><\/p>\n<p>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.<\/p>\n<p>For quite a long time ago I&nbsp;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 &#8220;trial and error&#8221;.<\/p>\n<p>Year-end Closing in Italy (RSFSUMB00) for me was &#8220;a once in a lifetime experience&#8221; 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.<\/p>\n<p>It is important to make the closing postings in one of the special periods (13-16), because these entries will &#8220;empty&#8221; the accounts and set the account balances of the used period will be zero.<\/p>\n<p>New GL: As this is only legal requirement use a non-leading Ledger (e.g. L1)&nbsp; for this.&nbsp;<a href=\"https:\/\/wiki.scn.sap.com\/wiki\/pages\/viewpage.action?pageId=377946646\">SAP Wiki: Closing\/Opening Postings at Year End (New GL)<\/a><\/p>\n<p>My example is from time before SAP New GL and was done with Program RFSUMB00. You can download the document from the <strong><span style=\"color: #ff0000;\">link below.<\/span><\/strong><\/p>\n<p><a href=\"http:\/\/www.esfoor.fi\/files\/RFSUMB00_Year_end_closing_in_Italy_3.pdf\">Year-end closing in Italy (RFSUMB00), classic legder<\/a><\/p>\n<a href=\"https:\/\/www.esfoor.fi\/en\/wp-content\/uploads\/sites\/3\/2020\/01\/RFSUMB00_Year_end_closing_in_Italy_3.pdf\" class=\"pdfemb-viewer\" style=\"\" data-width=\"max\" data-height=\"max\" data-toolbar=\"bottom\" data-toolbar-fixed=\"off\">RFSUMB00_Year_end_closing_in_Italy_3<\/a>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1533,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[108],"tags":[105,106,103,104],"class_list":["post-539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-year-end-closing-in-italy","tag-f_it_01-italy","tag-fagl_it_01-italy","tag-sap-rfsumb00","tag-year-end-closing-in-italy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Year-end closing in Italy (RFSUMB00) - Esfoor<\/title>\n<meta name=\"description\" content=\"Year-end closing in Italy (RFSUMB00): Fiscal year closing in a real company using SAP classic ledger. 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