Transcript

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 Accounts 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 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 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 accounting 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 Verify Display Log for Depreciation Test Run (T.Code: AFBP)

Satyanarayanareddy G

SAP FICO Consultanat

AIBU) 11 Enter Payroll Data to SAP (T.Code: OKSA) 28 Settle All Orders (T.10 Capitalize AUC Assets if needed (T.Code: FBS1) 36 Clearing of Cancelled Documents (T.Code : F.Code: S_ALR_87011963. freight (T.2D) 31 Reconciliation of MM movements in Transit Intra-SAP to Non SAP 32 Reconcile PI Inventory with SAP (T. FCHI) 40 Bank reconciliation Data (T.Code: KO88) 29 Verify All Post Goods Issue have been Invoiced (Billing Due List) (T.Code: FBL5N) 19 Review AP Open Items (FBL1N) 20 Execute Pending Invoices(T. and retire assets if needed (T. FBL3N) 39 Check the check run numbers (T. FB50) 34 Verify balance of the GR/IR account ( T.Code: KISR) 38 Aging Report-Reconcile GL balances with sub ledger balances AP ( T.Code: V-31) 27 Review Internal Order Postings(T.Code: ABST2) 13 Post Depreciation (T.13) 22 Reconciliation of Financial Documents and transactional figures (F.Code: F-03. Match SD freight to actual (T.Code: FCH1.Code: ABST2) 17 Check Bank Data (T.Code: OKBH) 25 Update current cost price to material master price field (T. ABAVN) 15 Adjust specific depreciation areas if necessary (T.Code: ABCO) 16 Reconcile AM sub ledger with GL (T.Code: CK11N.Code: F-02.03) 23 Open new CO Posting Period: (T.Code: FF67 & FEBA) Satyanarayanareddy G SAP FICO Consultanat . CK24) 26 Process Freight charges.code: FBL1N.Code: OKP1) 24 Compare current (cost estimates) with last current price (Moving Avg) ( T. FBL5N.Code: AFAB) 14 Execute Asset History Report.Code: AIAB.Code: F.Code: MRBP) 21 Clear Open Item for GRIR.Code: S_P99_41000212) 18 Review AR Open Items (T.Code: MB5S) 35 Post Accruals and Deferrals (T. F-44) 37 Check Profitability Segment Adjustment (T.Code: VF04) 30 Review SD Billing Doc from prior month that have not yet been released to accounting (T. F-32.Code: MI07) 33 Perform Manual Adjustment if needed (T.Code: CAT2) 12 Verify Depreciation Balances with GL balances ( T.

Code: CXS1) 59 Fiscal Yr balance carry forward FI ( T.07.5F) 44 Post Balance Sheet Adjustments (T.Code: F.Code:OB58) OR (T.Code: KSU5 & KSV5) 54 Run CO-FI Reconciliation to balance (T.Code: F.Code: F. Cost Elements. 58 Fiscal Yr Balance carry forward CO (T.Code: AJAB) 66 Close CO Posting Period : (T.Code: KALC) 55 Run BW reports P&L and Balance Sheet 56 Maintain CO yr variant (T. CO area (T.Code: OB52) 69 Close Prior MM Posting Period (T.FI .Code: F.Code: OBH2.Code: FNSL) 72 Load Balances.Code: OKP1) 67 Close Prior A/R Posting Period ( T.Code: OB52) 68 Close Prior A/P Posting Period (T.Code: FSE2) 64 Change Fiscal Year For Assets (T.Code: KCRQ) 57 Fiscal Yr Balance carry forward AP/AR/AM (T.Code: F.81) 71 Reconciliation of Financial Documents from old fiscal year and new fiscal year ( T.Code : F104) 51 Verify In-transit Inventory 52 Reconcile PA to G/L (T.16) Satyanarayanareddy G SAP FICO Consultanat .5E) 45 Post Foreign Currency Valuation (foreign exchange) (T. sales 73 Update Retained Earning Account . Budget Data for Cost centers. balance carry fwd (T.16) 60 Fiscal Yr balance carry forward PCA (T. OBA7) 62 Set Document number ranges AP/AR .new year (T.03) 43 Display Balance Sheet Adjustments (T.Code: F.Code: OMSY) 70 Reverse accruals and deferrals for the new month (T.Code: GGB0) 49 Check COGI--for both month end and year end 50 Doubtful receivables (T.Code: 2KES) 61 Set Document number ranges .Code: KE5U) 53 Post Cost Center Assessments and Distributions (T.Code: F.Code: AJRW) 65 Year end Closing-.05) 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.Code: FB41) 42 Reconcile GL balances with sub ledger balances AR/MM/AP ( T.Code: F.41 Enter Tax Journal Entry (T.Asset Accounting--final for year end (T.new year (OBA7) 63 Generate Financial statement Reports ( T.