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SAP MONTH END PROCESS
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Update Exchange Rates, Open and Close Posting Periods, Post Recurring Entries, Automatic Clearing of GR/ IR Account (MM), Post Adjustment Entries, Foreign Currency Revaluation (depends on methodology used lowest value or strict lowest value)...the path for all is available in SAP access---accounting...general ledger accounting just click the required report and activity and fill the parameters
http://wiki.scn.sap.com/wiki/display/ERPFI/Month+End+and+Year+End+Closing+Operations
https://www.youtube.com/watch?v=IaGzFe14ZgI&list=PL6E2F104F4C5B98BB
1. Month-end closing in Financial Accounting Update Exchange RatesGaps in Document Number AssignmentInvoice Numbers Allocated TwiceOpen and Close Posting PeriodsEnter Recurring EntriesPost Recurring EntriesRun Batch Input SessionAutomatic Clearing of GR/ IR Account special processAnalyze GR/ IR Clearing AccountsAutomatic Clearing of GR/ IR AccountPost Adjustment EntriesForeign Currency RevaluationPost Tax PayableRecord of sales and Use Tax ReportComparison Documents/ Transaction FiguresClose Previous Accounting PeriodBalance Interest CalculationDisplay Document JournalFinancial Statement
2. Year-end closing in Financial Accounting Create Factory Calendar for New YearCarry Forward AP/ AR BalancesCarry Forward GL BalancesRe-grouping Receivables/ PayablesBalance Confirmation ReceivableBalance Confirmation PayableFinal Close and Release Financial ReportingClose Previous Accounting PeriodDisplay Document Journal.-------------------------------
Year End Activities include
1. Open New Fiscal Year or Fiscal Year Change for Assets -->AJRW2. Close the Asset Fiscal Year -->AJAB3. Balance Carry Forward for General Ledger -->F.16/FAGLGCTR4. Balance Carry Forward for Vendors/Customers -->F.075. Copy Number Ranges for Next Fiscal Year -->OBH2
Month end closing Activities1. 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 Zero4. Suspense Accounts should be cleared regularly.5. Ensure that all documents related to MM & SD have been entered in system. (T.Code:F-22 & F-43) 6. Ensure that all billing documents are released to accounting.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 Orders12. Close MM period (Transaction Code: MMPV).13. Carry out GR/IR clearing (F.13) transaction14. Depreciation Run (AFAB) has been carried out for the month15. Close FI Posting period after the month end closing activity is over (T.Code:OB52) Year endClosing Activities:1. Calculate production work in progress on process orders which are not technically complete. (CO88).2. Carry out Assessment cycle for Cost Centers (T. Code: KSUB)3. All month end closing Activities should be carried out.4. Carry Forward Balances to next year With TC: F.16 we can carry forward the balance to next year. With TC: OBH2 copy the number ranges to next year Open next year periods by selecting the Posting Period Variant. then test by posting the transaction in F-02)SAP FI Month End and Year End Activities1 - Maintain Activity prices - KP262 - Release of Standard Cost Estimate - CK40N3 - MM period close and open - MMPV4 - FI period open5 - Parked documents to be posted - FBV0, MIRO6 - Reposting of Inter Office CC - KB617 - Bank Reconciliation8 - Update Section Code where missing - J1INPP9 - Maintain GRIR clearing - F.1310 - Provision for current month - FB5011 - Depreciation entry - FB5012 - Exchange rate - To be Updated13 - Revaluation of foreign currency open items - F.05
14 - Recognition of Inventory at Bonded warehouse - FB5015 - Maintain Statistical Key Figures - KB31N/KP4616 - Variance Calculation of Process Orders - KKS117 - Settlement of variances - CO8818 - Assessment cycles - Aux/WH CC to Main CC - KSU519 - Assessment cycles - Functional CC to SBU CC - KSU520 - Assessment cycles - SBU CC to COPA - KEU521 - Profit Center Reposting - 9KE022 - Balance Sheet Adjustment calculation - F.5D23 - Transfer Profit Center to AR & AP - 1KEK24 - Transfer Inventory to PCA - 1KEH25 - Assessment Cycle - Dummy PC to SBU PC - 3KE526 - Check for u201CDelivery made, not Invoicedu201D - VF0327 - Match GL and PCA - KE5T28 - Match PCA and PA29 - Top Down Distribution in COPA - KE2830 - Reclassification of GL balances31 - Balance Carry forward (Year End Only) - F.1632 - PCA Balance Carry forward (Year End Only) - 2KES33 - Transfer to FI - 1KE8
1 - Maintain Activity prices - KP26
2 - Release of Standard Cost Estimate - CK40N
3 - MM period close and open - MMPV - Prevent Inventory Back Posting to Previous period - Re-open Period closing
4 - FI period open - OB52 - Opening and closing the period for posting
5 - Parked documents to be posted - FBV0, MIRO
6 - Reposting of Inter Office CC - KB61
7 - Bank Reconciliation
8 - Update Section Code where missing - J1INPP
9 - Maintain GRIR clearing - F.13
10 - Provision for current month - FB50
11 - Depreciation entry - FB50
12 - Exchange rate - To be Updated
13 - Revaluation of foreign currency open items - F.05
14 - Recognition of Inventory at Bonded warehouse - FB50
15 - Maintain Statistical Key Figures - KB31N / KP46
16 - Variance Calculation of Process Orders - KKS1
17 - Settlement of variances - CO88 - Production Order Individual Settlement - KO88 - Settlement Of Production Orders in SAP CO
18 - Assessment cycles - Aux/WH CC to Main CC - KSU5
19 - Assessment cycles - Functional CC to SBU CC - KSU5
20 - Assessment cycles - SBU CC to COPA - KEU5
21 - Profit Center Reposting - 9KE0
22 - Balance Sheet Adjustment calculation - F.5D
23 - Transfer Profit Center to AR & AP - 1KEK
24 - Transfer Inventory to PCA - 1KEH
25 - Assessment Cycle - Dummy PC to SBU PC - 3KE5
26 - Check for "Delivery made, not Invoiced" - VF03
27 - Match GL and PCA - KE5T
28 - Match PCA and PA
29 - Top Down Distribution in COPA - KE28
30 - Reclassification of GL balances
31 - Balance Carry forward (Year End Only) - F.16
32 - PCA Balance Carry forward (Year End Only) - 2KES
33 - Transfer to FI - 1KE8
Check List for FI Year End Closing
1 Execute Report for InterCompany Activity & Journal Entries 2 Open posting period for next yr 3 Run Business Area's Assignment report. 4 Review list of recurring journal entries 5 Execute Recurring Entries for A/R, A/P, G/L 6 Process Parked A/R, A/P, G/L accounting documents 7 Final Cutoff for the Maintenance of Fixed Asset- Add Transfer and Retire 8 Run Depreciation in Test Run and post 9 Verify Display Log for Depreciation Test Run 10 Capitalize AUC Assets if needed 11 Enter Payroll Data to SAP 12 Verify Depreciation Balances with GL balances 13 Post Depreciation 14 Execute Asset History Report, and retire assets if needed 15 Adjust specific depreciation areas if necessary 16 Reconcile AM subledger with GL 17 Check Bank Data 18 Review AR Open Items 19 Review AP Open Items 20 Execute Pending Invoices 21 Clear Open Item for GRIR, freight 22 Reconciliation of Financial Documents and transactional figures 23 Open new CO Posting Period 24 Compare current (cost estimates) with last current price (Moving Avg) 25 Update current cost price to material master price field. 26 Process Freight charges, Match SD freight to actual 27 Review Internal Order Postings 28 Settle All Orders 29 Verify All Post Goods Issue have been Invoiced (Billing Due List) 30 Review SD Billng Doc from prior mth that have not yet been released to accounting 31 Reconciliation of MM movements in Transit Intra-SAP to NonSAP 32 Reconcile PI Inventory with SAP 33 Perform Manual Adjustment if needed 34 Verify balance of the GR/IR account 35 Post Accruals and Deferrals 36 Clearing of Cancelled Documents
37 Check Profitability Segment Adjustment 38 Aging Report-Reconcile GL balances with subledger balances AP 39 Check the check run numbers 40 Bank reconciliation Data 41 Enter Tax Journal Entry 42 Reconcile GL balances with subledger balances AR/MM/AP 43 Display Balance Sheet Adjustments 44 Post Balance Sheet Adjustments 45 Post Foreign Currency Valuation (foreign exchange) 46 Check generic cost centers for posting with wrong accounts 47 Correct wrong postings on generic cost centers 48 Check Validation dates for Cost Centers, Cost Elements, CO area 49 Check COGI--for both month end and year end 50 Doubtful receiviables 51 Verify In-transist Inventory 52 Reconcile PA to G/L 53 Post Cost Centre Assessments and Distributions 54 Run CO-FI Reconciliation to balance 55 Run BW reports P&L and Balance Sheet 56 Maintain CO yr variant 57 Fiscal Yr Balance carryforward AP/AR/AM 58 Fiscal Yr Balance carryforward CO 59 Fiscal Yr balance carryforward FI 60 Fiscal Yr balance carryforward PCA 61 Set Document number ranges - FI - new year 62 Set Document number ranges AP/AR - new year 63 Generate Financial statement Reports 64 Change Fiscal Year For Assets 65 Year end Closing-- Asset Accounting--final for year end 66 Close CO Posting Period 67 Close Prior A/R Posting Period 68 Close Prior A/P Posting Period 69 Close Prior MM Posting Period 70 Reverse accruals and deferrals for the new month 71 Reconciliation of Financial Documents from old fiscal year and new fiscal year 72 Load Balances, Budget Data for Cost centers, sales 73 Update Retained Earning Account , balance carry fwd