Close MAC Calendar – A summary of the activity

A business function group comprises of a set of business components that have related business functionality. These business components make the financial postings in the selected finance book after transactions have been completed. Before closing a finance book it must be ensured that there are no pending transactions that have to be posted.

This activity allows you to close the calendar that has been defined for Management Accounting (MAC) purposes. This MAC calendar is defined in the “Cost Setup” business component. This MAC calendar is different from a financial calendar and is used exclusively for MAC purposes. All the business function groups except MAC must be closed for the finance book to be closed. The finance book is then updated as “Closed for MAC”. MAC incorporates the financial transactions and also passes allocation entries in the finance book. The finance book is then closed. A MAC calendar allows you to close a financial period / year finally.

This activity also allows you to view the list of business components that form a part of the business function group. You can view the list of pending costing transactions that are yet to be posted in the finance book. You can also view the status of the financial year and the financial period of any selected finance book.

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