Closing Activities Month End In Sap Fico 1k5328

MONTH END ACTIVITIES IN SAP FICO Here are month end closing activities need to be accomplished at end of month: 1. All the expenses including amortization, prepaid expenses, Preliminary expenses and accruals have been booked. 2. Complete Bank Reconciliation (T.Code: FF67) 3. Make sure that Sum of Inter company balances is Zero 4. Suspense s should be cleared regularly. 5. Ensure that all documents related to MM & SD have been entered in system. (T.Code:F-22/fb60 & F-43/fb70) 6. Ensure that all billing documents are released to ing. 7. Calculate Overheads on all process Orders (CO43) 8. Technically complete all process orders which are fully processed (CORM). 9. Calculate Variance (KKS1)à (Relevant only if Standard cost is calculated). 10. Settle all process orders which are technically complete (CO88). 11. Close All settled Process Orders 12. Close MM period (Transaction Code: MMPV). 13. Carry out GR/IR clearing (F.13) transaction 14. Depreciation Run (AFAB) has been carried out for the month 15. Close FI Posting period after the month end closing activity is over (T.Code:OB52)

Check List for full closing 1 Execute Report for Inter Company Activity & Journal Entries 2 Open posting period for next yr (T.Code: OB52) 3 Run Business Area's Assignment report. (T.Code: F.50) 4 Review list of recurring journal entries (T.Code: FBD3) 5 Execute Recurring Entries for A/R, A/P, G/L (T. Code: F.14) 6 Process Parked A/R, A/P, G/L ing documents (T.Code: FBV0) 7 Final Cutoff for the Maintenance of Fixed Asset- Add Transfer and Retire (T.Code: ABUMN) 8 Run Depreciation in Test Run and post (T.Code: AFAB) 9 Display Log for Depreciation Test Run (T.Code: AFBP)

Satyanarayanareddy G

SAP FICO Consultanat

10 Capitalize AUC Assets if needed (T.Code: AIAB, AIBU) 11 Enter Payroll Data to SAP (T.Code: CAT2) 12 Depreciation Balances with GL balances ( T.Code: ABST2) 13 Post Depreciation (T.Code: AFAB) 14 Execute Asset History Report, and retire assets if needed (T.Code: S_ALR_87011963, ABAVN) 15 Adjust specific depreciation areas if necessary (T.Code: ABCO) 16 Reconcile AM sub ledger with GL (T.Code: ABST2) 17 Check Bank Data (T.Code: S_P99_41000212) 18 Review AR Open Items (T.Code: FBL5N) 19 Review AP Open Items (FBL1N) 20 Execute Pending Invoices(T.Code: MRBP) 21 Clear Open Item for GRIR, freight (T.Code: F.13) 22 Reconciliation of Financial Documents and transactional figures (F.03) 23 Open new CO Posting Period: (T.Code: OKP1) 24 Compare current (cost estimates) with last current price (Moving Avg) ( T.Code: OKBH) 25 Update current cost price to material master price field (T.Code: CK11N, CK24) 26 Process Freight charges, Match SD freight to actual (T.Code: V-31) 27 Review Internal Order Postings(T.Code: OKSA) 28 Settle All Orders (T.Code: KO88) 29 All Post Goods Issue have been Invoiced (Billing Due List) (T.Code: VF04) 30 Review SD Billing Doc from prior month that have not yet been released to ing (T.Code : F.2D) 31 Reconciliation of MM movements in Transit Intra-SAP to Non SAP 32 Reconcile PI Inventory with SAP (T.Code: MI07) 33 Perform Manual Adjustment if needed (T.Code: F-02, FB50) 34 balance of the GR/IR ( T.Code: MB5S) 35 Post Accruals and Deferrals (T.Code: FBS1) 36 Clearing of Cancelled Documents (T.Code: F-03, F-32, F-44) 37 Check Profitability Segment Adjustment (T.Code: KISR) 38 Aging Report-Reconcile GL balances with sub ledger balances AP ( T.code: FBL1N, FBL5N, FBL3N) 39 Check the check run numbers (T.Code: FCH1, FCHI) 40 Bank reconciliation Data (T.Code: FF67 & FEBA)

Satyanarayanareddy G

SAP FICO Consultanat

41 Enter Tax Journal Entry (T.Code: FB41) 42 Reconcile GL balances with sub ledger balances AR/MM/AP ( T.Code: F.03) 43 Display Balance Sheet Adjustments (T.Code: F.5F) 44 Post Balance Sheet Adjustments (T.Code: F.5E) 45 Post Foreign Currency Valuation (foreign exchange) (T.Code: F.05) 46 Check generic cost centers for posting with wrong s 47 Correct wrong postings on generic cost centers 48 Check Validation dates for Cost Centers, Cost Elements, CO area (T.Code: GGB0) 49 Check COGI--for both month end and year end 50 Doubtful receivables (T.Code : F104) 51 In-transit Inventory 52 Reconcile PA to G/L (T.Code: KE5U) 53 Post Cost Center Assessments and Distributions (T.Code: KSU5 & KSV5) 54 Run CO-FI Reconciliation to balance (T.Code: KALC) 55 Run BW reports P&L and Balance Sheet 56 Maintain CO yr variant (T.Code: KCRQ) 57 Fiscal Yr Balance carry forward AP/AR/AM (T.Code: F.07, 58 Fiscal Yr Balance carry forward CO (T.Code: CXS1) 59 Fiscal Yr balance carry forward FI ( T.Code: F.16) 60 Fiscal Yr balance carry forward PCA (T.Code: 2KES) 61 Set Document number ranges - FI - new year (T.Code: OBH2, OBA7) 62 Set Document number ranges AP/AR - new year (OBA7) 63 Generate Financial statement Reports ( T.Code:OB58) OR (T.Code: FSE2) 64 Change Fiscal Year For Assets (T.Code: AJRW) 65 Year end Closing-- Asset ing--final for year end (T.Code: AJAB) 66 Close CO Posting Period : (T.Code: OKP1) 67 Close Prior A/R Posting Period ( T.Code: OB52) 68 Close Prior A/P Posting Period (T.Code: OB52) 69 Close Prior MM Posting Period (T.Code: OMSY) 70 Reverse accruals and deferrals for the new month (T.Code: F.81) 71 Reconciliation of Financial Documents from old fiscal year and new fiscal year ( T.Code: FNSL) 72 Load Balances, Budget Data for Cost centers, sales 73 Update Retained Earning , balance carry fwd (T.Code: F.16)

Satyanarayanareddy G

SAP FICO Consultanat