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# What is Financial Closing Cockpit?

The Financial Closing Cockpit is an application that enables you to create a structured interface for executing transactions and programs that form part of complex processes, such as closing processes. The structural layout supports processes within an organizational structure, such as a company code, as well as scenarios affecting multiple organizational structures.

# Financial Closing Cockpit Usage Scenario

  • When activities recur periodically
  • When more than one person responsible is involved
  • When the activities are performed within a process that has a fixed chronological sequence or is determined by dependencies
  • When the activities need to be supported by a shared, uniform interface for all involved
  • When the status of all periodic activities must be documented and made transparent and available for all parties involved
  • When the closing tasks are documented for later checks
  • The FCC allows all financial close stakeholders to set a manual status for a task, document whether the task has been checked, and manually confirm that a transaction has been performed.

# Financial Closing Cockpit Options

  • Hierarchies to display the organizational objects involved in the closing process
  • A task list template based on the organizational structure
  • A detailed view of the characteristic values of the individual hierarchy levels used in the task list template
  • Task lists that are derived from the task list template
  • A list display in which all tasks to be managed or executed from the respective task list are made available for processing or for monitoring the progress of the task
  • A monitor that provides an overview of the sequence of tasks and their status, dependencies, and critical paths in graphical form
  • Detailed information for evaluating the technical settings of tasks and analysing background programs (spool, job log information)
  • Dependencies for displaying the conditions that are prerequisite to processing individual tasks

# Financial Closing Cockpit — Configuration & Execution

  • Create template: Create uniform template for the closing process.

 

You create a template with the following steps:

  1. Choose Template/Task List Create Create Template.
  1. Define a 10 – character technical key for your template.
  2. Select one of the organizational hierarchies from the Closing Hierarchy field. These hierarchies allow you to organize the closing process according to organizational structures. This means that the special features of individual, independent accounting units can be taken into account during closing. For example, at company code level. This enables you to avoid applying identical process steps to all company codes. Standard hierarchies are provided in the Financial Closing Cockpit.
  3. Enter a description for the new template.
  4. The time-dependent selection variables that are relevant for the template are now displayed in the template header.
  5. The system generates a proposal for a task list template in accordance with the selected hierarchies using all organizational objects available in the system. For example, controlling areas with assigned company codes, including any sub-folders defined.
  6. Task folders allow you to arrange organizational levels into substructures in the task list template. Default values for task folders can be stored as sub-folders in the generic maintenance of the organizational levels.

 

  • Create tasks: Define individual activities based on chronological sequence in org. structures.

 

In the Financial Closing Cockpit, you can access the required transaction or background processing for programs and flow definitions directly from the central interface (transaction FCLOCO).

Types of Tasks

The following types of tasks are available in the Financial Closing Cockpit:

  1. Programs with program variants (background processing): Standard programs are available for processing activities in the background. If these programs are included in the task list template with corresponding parameters (that is, with a variant), you can start background processing directly from the FCC. Without a program variant, you can start and process the report in the task list of the FCC.
  2. Transactions: Start online transactions manually from the task list and go directly from the FCC to the relevant application transaction. Use these tasks only as reminders or milestones.
  3. Flow Definition: Use flow definitions to process multiple programs automatically without interruption. You combine such programs with variants to form a logical flow chain with predecessor and successor relationships.
  4. SAP CPS: Create and schedule SAP Central Process Scheduling application by Redwood (SAP CPS) tasks to process tasks on other systems.
  5. Remote Job, – Transaction, – Program, – Flow Definition: You can create these activities are run in remote systems.
  6. External Job: Create tasks that you use to monitor the jobs that are created or scheduled in a remote or the local system using external schedulers. Note that tasks with this task type only retrieve information from systems. You cannot use them to perform any closing operations.

 

  • Define dependencies: Define upstream programs and transactions for the program in the template. Define program sequences in the preceding task relationship.
  • Create task list: Derive concrete task lists from template, including parameter settings for variables of program variants.

To perform programs included in a task list, you need to specify variant values. With the separation of the task list template from the task list, you can define the structured process flow as a generic template and then make a task list available for processing with specific parameter values.

The task list generated from the template automatically updates the time-related program parameters of the selection variants by entering corresponding header information in the task list.

To create a task list, proceed as follows:

  1. Choose Template/Task List Open and select a template for which the Periodic Task List will be created. From the current task list template, the system creates a task list of the same name.
  2. Choose Template/Task List → Create Periodic Task List. From the current task list template, the system creates a task list of the same name. Enter values for the parameters Key Date, Fiscal Year, and Posting Period for this task list.
  3. All the task lists created are listed under the relevant templates by key date.
  4. Based on the closing type selected in the task list, the system transfers from the task list template to the task list only those activities permitted in the task definition for that closing type.
  5. Before you can use the task list in the application, you must release it. To release the task list, choose the Released entry in the Status field.

 

  • Release task list: Transfer configured task list to application.

 

Once the task list has been released, the tasks defined in the task list are selected and scheduled in the Financial Closing Cockpit.

  • Financial Closing Cockpit: Dependencies

 

Programs and transactions that have been included in the task list template using chronological process steps as part of an organizational structure frequently involve business-related or system-related dependencies. These dependencies need to be portrayed for the process flow to be processed smoothly

In the configuration of the Financial Closing Cockpit, these predecessor relationships can be displayed under the Dependencies tab. When you enter a relationship between programs and transactions, the relationship is checked during subsequent processing, to ensure that the correct sequence is applied. The combination of relationships is managed from the viewpoint of the successor. In this way, an activity can have more than one predecessor. You can insert complete task folders as a task dependency. All tasks within the folder will then be defined as dependent on the specific closing task.

 

  • Execution of Tasks with Dependencies

In the monitor, you can display your scheduled tasks and identify the ones that are to be processed automatically or manually.

The connecting lines between tasks show the dependencies (“predecessor” →”successor” jobs).

  • Error Analysis

In the list display, you can display all the details for the task along with its processing status.

You can navigate directly to the detail list for a task at any time.

Check or Process Objects

You can immediately check or process the following objects in the detail list:

– Spool request

– Job log

– Batch input session

Note: Certification in Financial Closing Cockpit and good SAP training documents on the subject is the base of this article.

Purpose of this article is to make Financial Closing Cockpit functionalities to larger audience.

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