Balance Sheet in Profit Center Accounting

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This might be a little dated but it is a good outline. Receivables and Payables Subsequent Business Area/profit center Adjustment – Calculation General Ledger F.5D Transfer of balance sheet items – Payables/Receivables PCA 1KEK Material Transfer of balance sheet items – Material stocks PCA 1KEH Assets Transfer of balance sheet items – Assets PCA 1KEI Other Balance Sheet accounts Period end closing of the G/L accounts PCA OB52 STEPS IN PCA FOR THE BALANCE SHEET Overall 1. Define the field status group to contain “additional account assignment” as the Profit Center and status should be required – so that the user has to fill in the profit center assignment everytime. The path for the configuration of this will be: Financial Accounting>Consolidation preparation>Business Area consolidation>Financial Accounting>Maintain Field Status Group for G/L Accounts 2. Activate the control indicator for the Profit Center Accounting in a controlling area for a particular fiscal year. The path is Enterprise Controlling>Profit Center Accounting>Basic Settings>Controlling Area Configuration. The Control Indicator in this screen is activated. 3. To allow the balances to carry forward in Profit Center Accounting, have to do it in the IMG. This makes it possible to execute the program for carrying balances forward in the application menu, and automatically carries forward balances for all postings which are: • Transfer from Financial Accounting, or • Created directly in PCA. Receivables and Payables 1. The Customer and the Vendor account do not have the Profit Center assignment. So the Profit Center assignment is done via the Revenue account and the Expense account. The field status groups for both the accounts should include the Profit Center as the additional account assignment. 2. After the posting in either Revenue or Expense, the amounts in Account receivable or the Account payable (reconciliation accounts which are instantly updated as a transaction hits the customer or the vendor account) have to be segregated according to the Business Area or the profit Center assignment. In the General Ledger main menu – go to … Periodic Processing>Closing>Regroup>Calc. Sub.ad. (BA/PrC). This step segregates the amounts for the respective profit centers. 3. Now the amounts are pulled into the PCA module. This is done through the PCA menu: Go to … PCA>Actual postings>Transfer of balance sheet items>Payables/receivables. Material 1. The material stock is assigned to the profit center in Material Master’s “Sales: general/plant data”. 2. The Good receipt and Goods issue entries are done. 3. The material balances are pulled into PCA from the PCA menu. Go to…PCA>Actual Postings>Transfer of balance sheet items>Material stocks. Assets 1. Create an asset with a cost center assignment. The main menu path for this step is: Accounting>Financial Accounting>Fixed Assets>Asset>Create>Asset 2. Put the Dollars on the asset through an acquisition posting: Accounting>Financial Accounting>Fixed Asset>Posting>Acquisition>External Acquisition>With Vendor The posting keys for this sort of posting will be: 31 for Vendor; and 70 for the asset; The transaction type is 100. 3. To account for depreciation, we have to perform a depreciation run: Asset Accounting>Periodic processing>Depreciation run>Execute unplanned run. 4. Assign the cost center to the profit center in the cost center master data. 5. Do the period-end closing process for the asset. This is done by activating the Depreciation run. 6. Transfer the asset and the related depreciation over to the PCA through PCA>Actual Postings>Transfer of balance sheet items>Assets. Additional Balance Sheet items Apart from the standard accounts (material, assets, AR and AP), we can also get some of the additional balance sheet items into PCA. The steps for this are: 1. Account created with the Field Status group having the account assignment of a Profit Center. 2. The Open Item management and Line Item Management fields in the G/L account master record to be switched on. (is it necessary?) 3. Assign the accounts to the respective Profit centers in IMG (Choose additional balance and P&L accounts) - save. 4. Do Period end closing in general Ledger>Environment>Current Settings