Closing Cockpit

y One common status Tracking Mechanism y Common templates and Guide lines that Every one can

use y Ability To Assign Roles And responsibilities for Each Task y Dependency Information related to closing Process

Components of closing cockpit

y Organizational hierarchies(company code, controlling y y

y y y

area , operating concern, profit center) Task list template Task Lists: derived from template and extremely crucial for successful definition of the month end close Dependency between tasks Monitor Detailed Information

Steps for setting up closing cockpit

y Conducting planning and research y Create the basic template data y Build the closing template hierarchy y Configure individual tasks y Change the template to an executable task list

Step1. Conducting Planning and Research

y Tasks to be performed y The order of performing the tasks y Who owns the task y Who executes the task y Who reviews and approves the results after task is

completed y How long the task takes to complete (run time) y The post close audit requirements

Step2.Create a basic template data

y Provides formal structure for the organizational

hierarchy , closing tasks in the form of lists , and the ownership of the task by identifying the individual task owners y Controlling the order of precedence or sequence of the individual task execution y By configuring the closing cockpit template , we can setup the basic closing model that the system copies to a date specific task list during the closing process

Step3.Build the closing template hierarchy structure

y Starts with the construction of a hierarchy of task

folders y Then assign organizational structures to the created task folders

Create Template

Creating Tasks

Different types of tasks

y Program without a variant y Program with variant y Transaction y Note

Creating task type: Program with variant

Creating Task Type: Transaction

Create A Task List

Changing the Template to an Executable task List

Scheduling Tasks

Closing Cockpit Monitor

Detailed Information on Tasks