How to use OFCL - Rules for Closing Ledger Accounts

SAP Transaction Code - Details

• Transaction Code: OFCL

  Description: Rules for Closing Ledger Accounts

  Release: S/4HANA and ECC 6

• • Program:

    Screen: 0

    Authorization Object:

  • Development Package: FMFG_E

    Package Description: US Federal Government budgetary ledger account derivation

    Parent Package: FUNDS_MANAGEMENT

  • Module/Component: PSM-FM

    Description: Funds Management

Smart SAP Assistant

• SAP Tcode: OFCL - Rules for Closing Ledger Accounts

  
  Overview:
  The SAP transaction code OFCL is used to define the rules for closing ledger accounts. This code is used to set up the criteria for when a ledger account should be closed and how it should be closed. It also allows users to define the criteria for when a ledger account should be reopened. 
  
  Functionality:
  The OFCL transaction code allows users to define the criteria for when a ledger account should be closed and how it should be closed. This includes setting up rules for when a ledger account should be closed, such as when the balance is zero or when there are no open items. It also allows users to define the criteria for when a ledger account should be reopened, such as when there are new transactions or when the balance is no longer zero. 
  
  Step-by-step How to Use:
  1. Enter the transaction code OFCL in the command field. 
  2. Select the “Define Rules for Closing Ledger Accounts” option from the menu. 
  3. Select the ledger account that you want to set up rules for closing and reopening. 
  4. Enter the criteria for when the ledger account should be closed and how it should be closed. 
  5. Enter the criteria for when the ledger account should be reopened and how it should be reopened. 
  6. Save your changes and exit the transaction code. 
  
  Other Recommendations:
  It is important to note that any changes made using this transaction code will only take effect after a period of time, usually one day or more, depending on your system settings. Additionally, it is recommended that users test any changes made using this transaction code before implementing them in their production environment.