Period-End Closing - Plant

This scope item helps you to ensure that the costs incurred during production activities (such as materials manufactured in-house) are assigned to those activities. The costs are allocated to the corresponding products in profitability analysis.

Key Process Steps Covered

  • Run assessment cycle for quality costs
  • Record purchase-order-related accounts payable transactions
  • Release blocked invoices
  • Ensure that goods movements are complete - postprocess faulty goods movements
  • Open new materials management (MM) period
  • Run actual overheads calculation for production and process orders
  • Perform preliminary settlement for co-product
  • Calculate work in progress (WIP)
  • Run production, process order, and product cost collector variance calculation
  • Settle variances
  • Analyze variances
  • Close completed production orders
  • Analyze production costs

Benefits

  • Get transparent view of production costs for materials manufactured in-house
  • Process automatically and efficiently