8/9/2019 Closing Activities Month End in SAP FICO
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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 expensesand accruals have been booked.
. !omplete "ank #econciliation (T.Code FF!"#
$. %ake sure that &um of 'nter company balances is (ero
). &uspense Accounts should be cleared regularly.
*. +nsure that all documents related to %% &- have been
entered in system.
(T.CodeF$%%&'!) * F$+,&'")#
. +nsure that all billing documents are released to
accounting.
/. !alculate 0verheads on all process 0rders (CO+,#
. 2echnically complete all process orders 3hich are fully
processed (CO-M#.
4. !alculate 5ariance 677&189 6#elevant only if &tandard
cost is calculated8.
1. &ettle all process orders 3hich are technically complete
(CO#.
11. !lose All settled Process 0rders
1. !lose %% period (T/ansaction Code MMPV#.
1$. !arry out ;#
8/9/2019 Closing Activities Month End in SAP FICO
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1 !apitalize AC! Assets if needed 62.!ode: A'A", A'"C8
11 +nter Payroll -ata to &AP 62.!ode: !A28
1 5erify -epreciation "alances 3ith ; balances 6 2.!ode:
A"&28
1$ Post -epreciation 62.!ode: A=A"8
1) +xecute Asset History #eport, and retire assets if needed
62.!ode:&EA#E/114$, A"A5D8
1* Ad@ust specific depreciation areas if necessary 62.!ode:
A"!08
1 #econcile A% sub ledger 3ith ; 62.!ode: A"&28
1/ !heck "ank -ata 62.!ode: &EP44E)118
1 #evie3 A# 0pen 'tems 62.!ode: ="*D8
14 #evie3 AP 0pen 'tems 6="1D8
+xecute Pending 'nvoices62.!ode: %#"P8
1 !lear 0pen 'tem for ;#'#, freight 62.!ode: =.1$8
#econciliation of =inancial -ocuments and transactional figures
6=.$8
$ 0pen ne3 !0 Posting Period: 62.!ode: 07P18
) !ompare current 6cost estimates8 3ith last current price
6%oving Avg8 6 2.!ode:
07"H8
* Cpdate current cost price to material master price field
62.!ode: !711D, !7)8
Process =reight charges, %atch &- freight to actual 62.!ode:
5B$18
/ #evie3 'nternal 0rder Postings62.!ode: 07&A8
&ettle All 0rders 62.!ode: 708
4 5erify All Post ;oods 'ssue have been 'nvoiced 6"illing -ue
ist8 62.!ode: 5=)8
$ #evie3 &- "illing -oc from prior month that have not yet
been released to
accounting 62.!ode : =.-8
$1 #econciliation of %% movements in 2ransit 'ntraB&AP to
Don &AP
$ #econcile P' 'nventory 3ith &AP 62.!ode: %'/8
$$ Perform %anual Ad@ustment if needed 62.!ode: =B, ="*8
$) 5erify balance of the ;#
