What is FTZ year-end close in SAP SLL - Global Trade Services?

SAP Term: FTZ year-end close

• Component: SLL

• Component Name: Global Trade Services

• Description: The year-end close for a foreign-trade zone takes the opening stock balance for the year which is the year-end balance of the previous year and adds or subtracts all stock movements of the FTZ posting year such as stock receipts and stock issues and determines the year-end stock balance.

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• Key Concepts: 
  FTZ year-end close is a process that is used to close out the fiscal year for Foreign Trade Zone (FTZ) operations. This process is part of the SLL Global Trade Services component of SAP. It involves closing out all FTZ inventory and financial transactions, as well as reconciling any discrepancies between the two. 
  
  How to use it: 
  The FTZ year-end close process begins with a review of all FTZ inventory and financial transactions for the fiscal year. Any discrepancies between the two must be identified and resolved before the process can be completed. Once all discrepancies have been resolved, the FTZ year-end close process can be initiated. This involves closing out all FTZ inventory and financial transactions, as well as reconciling any discrepancies between the two. 
  
  Tips & Tricks: 
  It is important to ensure that all FTZ inventory and financial transactions are reviewed and reconciled prior to initiating the FTZ year-end close process. This will help to ensure that all discrepancies are identified and resolved before the process is completed. Additionally, it is important to ensure that all necessary documents are filed with the appropriate government agencies prior to initiating the FTZ year-end close process. 
  
  Related Information: 
  For more information on the FTZ year-end close process, please refer to SAP’s documentation on SLL Global Trade Services. Additionally, you may find it helpful to consult with an experienced SAP consultant who can provide guidance on how best to complete this process.