8/6/2019 Check List for FI Year End Closing

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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 entries5 Execute Recurring Entries for A/R, A/P, G/L6 Process Parked A/R, A/P, G/L accounting documents

7 Final Cutoff for the Maintenance of Fixed Asset- Add Transfer and Retire8 Run Depreciation in Test Run and post

9 Verify Display Log for Depreciation Test Run10 Capitalize AUC Assets if needed

11 Enter Payroll Data to SAP12 Verify Depreciation Balances with GL balances

13 Post Depreciation14 Execute Asset History Report, and retire assets if needed

15 Adjust specific depreciation areas if necessary16 Reconcile AM subledger with GL17 Check Bank Data

18 Review AR Open Items19 Review AP Open Items

20 Execute Pending Invoices21 Clear Open Item for GRIR, freight

22 Reconciliation of Financial Documents and transactional figures23 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 actual27 Review Internal Order Postings

28 Settle All Orders29 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 accounting31 Reconciliation of MM movements in Transit Intra-SAP to NonSAP

32 Reconcile PI Inventory with SAP33 Perform Manual Adjustment if needed

34 Verify balance of the GR/IR account35 Post Accruals and Deferrals

36 Clearing of Cancelled Documents

37 Check Profitability Segment Adjustment38 Aging Report-Reconcile GL balances with subledger balances AP39 Check the check run numbers

40 Bank reconciliation Data41 Enter Tax Journal Entry

42 Reconcile GL balances with subledger balances AR/MM/AP43 Display Balance Sheet Adjustments

44 Post Balance Sheet Adjustments

8/6/2019 Check List for FI Year End Closing

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45 Post Foreign Currency Valuation (foreign exchange)46 Check generic cost centers for posting with wrong accounts

47 Correct wrong postings on generic cost centers48 Check Validation dates for Cost Centers, Cost Elements, CO area

49 Check COGI--for both month end and year end

50 Doubtful receiviables51 Verify In-transist Inventory52 Reconcile PA to G/L

53 Post Cost Centre Assessments and Distributions54 Run CO-FI Reconciliation to balance

55 Run BW reports P&L and Balance Sheet56 Maintain CO yr variant

57 Fiscal Yr Balance carryforward AP/AR/AM58 Fiscal Yr Balance carryforward CO

59 Fiscal Yr balance carryforward FI60 Fiscal Yr balance carryforward PCA

61 Set Document number ranges - FI - new year62 Set Document number ranges AP/AR - new year

63 Generate Financial statement Reports64 Change Fiscal Year For Assets

65 Year end Closing-- Asset Accounting--final for year end66 Close CO Posting Period

67 Close Prior A/R Posting Period68 Close Prior A/P Posting Period

69 Close Prior MM Posting Period70 Reverse accruals and deferrals for the new month

71 Reconciliation of Financial Documents from old fiscal year and new fiscal year72 Load Balances, Budget Data for Cost centers, sales

73 Update Retained Earning Account , balance carry forward