Annual Settlement – A Good Preparation Is Half The Battle

The annual settlement is the economic closure of a business year and provides an important view on the financial situation of your company. Lately the annual settlement is spinning heads of accountancies in many companies. As experts we know: a majority of work is the thorough preparation of the capital assets.

Primarily, all contract information, posting documents, the entire capital asset, existing claims as well as stocks need to be captured in the beginning. Also, deferred items and provisions are built and depreciations are examined and accounted. Only if all preparations are made and the necessary documents are provided, the fiscal optimisations can be made.

To simplify those tasks for you, we have summarised some important reports from PROMOS.GT within our add-on package for the assets accounting:

  • Output account line items for assets: In order to perform an examination of accounts on certain assets more easily, this report gives the opportunity to compile a posting overview in ALV format and to customize according to your individual criteria (column selection, subtotals, filters).
  • Output remaining useful life for assets: Based on the remaining useful life of single items of the capital asset a corresponding impairment as well as linked depreciations can be evaluated and entered after. With the PROMOS.GT report the remaining useful life of assets can be outlaid with a single click by defined criteria.
  • Reconciliation of G/L account for assets: In order to check the conformity of the subsidiary books of account with the general ledger, an overview can be generated by means of this report, which compares the account balances in the general ledger with those in Asset Accounting. In case of an imbalance, it will be reported. The evaluation is performed according to valuation area / fiscal year.

In our PROMOS bag of tricks there are many other tools for the simplification of your annual settlements. Get more information about e. g. the PROMOS balance list >>

Are there still any questions? Please feel free to contact us!
To the contact form >>

Please wait