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Re: Year End closing activities - Steps
Rahul Balasaheb Dorugade3 Jan, 2009 11:09 AM (in response to
guest 43)
1 Execute Report for Inter o!pan" Acti#it" $ Journa% Entries
2 &pen posting perio' for next "r (o'e: &*+2)
3 Run *usiness Areas Assign!ent report (o'e: -+0)
4 Re#ie. %ist of recurring /ourna% entries (o'e: -*3)
+ Execute Recurring Entries for AR, A, ( o'e: -14)
5 rocess ar6e' AR, A, accounting 'ocu!ents (o'e: -*70)
8 -ina% utoff for te Maintenance of -ixe' Asset A'' ransfer an'
Retire (o'e: A*;M
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19 Re#ie. A &pen Ite!s (-*1
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41 Enter ax Journa% Entr" (o'e: -*41)
42 Reconci%e @a%ances .it su@ %e'ger @a%ances ARMMA ( o'e:
-03)
43 isp%a" *a%ance ?eet A'/ust!ents (o'e: -+-)
44 ost *a%ance ?eet A'/ust!ents (o'e: -+E)
4+ ost -oreign urrenc" 7a%uation (foreign excange) (o'e:
-0+)
45 ec6 generic cost centers for posting .it .rong accounts
48 orrect .rong postings on generic cost centers
4= ec6 7a%i'ation 'ates for ost enters, ost E%e!ents, & area
(o'e: *0)
49 ec6 &Ifor @ot !ont en' an' "ear en'
+0 ou@tfu% recei#a@%es (o'e : -104)
+1 7erif" Intransit In#entor"
+2 Reconci%e A to (o'e: CE+;)
+3 ost ost enter Assess!ents an' istri@utions (o'e: C?;+ $
C?7+)
+4 Run &-I Reconci%iation to @a%ance (o'e: CA)
++ Run *D reports $ an' *a%ance ?eet
+5 Maintain & "r #ariant (o'e: CR)
+8 -isca% Fr *a%ance carr" for.ar' AARAM (o'e: -08,
+= -isca% Fr *a%ance carr" for.ar' & (o'e: G?1)
+9 -isca% Fr @a%ance carr" for.ar' -I ( o'e: -15)
50 -isca% Fr @a%ance carr" for.ar' A (o'e: 2CE?)
51 ?et ocu!ent nu!@er ranges -I ne. "ear (o'e: &*2,
&*A8)
52 ?et ocu!ent nu!@er ranges AAR ne. "ear (&*A8)
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53 enerate -inancia% state!ent Reports ( o'e:&*+=) &R
(o'e: -?E2)
54 ange -isca% Fear -or Assets (o'e: AJRD)
5+ Fear en' %osing Asset Accountingfina% for "ear en' (o'e:
AJA*)
55 %ose & osting erio' : (o'e: &C1)
58 %ose rior AR osting erio' ( o'e: &*+2)
5= %ose rior A osting erio' (o'e: &*+2)
59 %ose rior MM osting erio' (o'e: &M?F)
80 Re#erse accrua%s an' 'eferra%s for te ne. !ont (o'e: -=1)
81 Reconci%iation of -inancia% ocu!ents fro! o%' fisca% "ear an'
ne. fisca% "ear ( o'e: -
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4) en test @" posting te transaction in -02
ec6 ist:
In or'er to arri#e at correct profit or %oss for te !ont
fo%%o.ing cec6%ist can @e fo%%o.e':
Mont en' c%osing Acti#ities
1) A%% te expenses inc%u'ing a!orti>ation, prepai' expenses,
re%i!inar" expenses an' accrua%s a#e @een @oo6e'
2) o!p%ete *an6 Reconci%iation
3) Ma6e sure tat ?u! of Inter co!pan" @a%ances is Hero
4) ?uspense Accounts sou%' @e c%eare' regu%ar%"
+) Ensure tat a%% 'ocu!ents re%ate' to MM $ ? a#e @een entere'
in s"ste!
5) Ensure tat a%% @i%%ing 'ocu!ents are re%ease' to
accounting
8) a%cu%ate erea's on a%% process &r'ers (&43)
=) ecnica%%" co!p%ete a%% process or'ers .ic are fu%%" processe'
(&RM)
9) a%cu%ate 7ariance (CC?1) (Re%e#ant on%" if ?tan'ar' cost is
ca%cu%ate')
10) ?ett%e a%% process or'ers .ic are tecnica%%" co!p%ete
(&==)
11) %ose A%% sett%e' rocess &r'ers
12) %ose MM perio' (ransaction o'e: MM7)
13) arr" out RIR c%earing (-13) transaction
14) epreciation Run (A-A*) as @een carrie' out for te !ont
1+) %ose -I osting perio' after te !ont en' c%osing acti#it" is
o#er
Fear en' c%osing Acti#ities
1) a%cu%ate pro'uction .or6 in progress on process or'ers .ic
are not tecnica%%" co!p%ete
2) arr" out Assess!ent c"c%e for ost enters
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3) A%% !ont en' c%osing Acti#ities sou%' @e carrie' out
4) arr" -or.ar' *a%ances to next "ear
ope it so%#es "our uer"
an6s $ Regar's,
?aura@ Agar.a%
