check list_period end activities in sap finance
TRANSCRIPT
Check List for Period End Activities
In order to arrive at correct profit or loss for the month following checklist can be followed:
Month end closing Activities:
1) All the expenses including amortization, prepaid expenses, Preliminary expenses and accruals have been booked.
2) Complete Bank Reconciliation
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.
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.
Check List for Period End Activities
Year end closing Activities:
1) Calculate production work in progress on process orders which are not technically complete.
2) Carry out Assessment cycle for Cost Centers.
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)
5) Carry forward Vendor & Customer Balances: TC: F.07
6) Assets: i) TC: OB 52 - for assets 2 years can be openned at a time. ii) check which year is closed: TC: OAAQ iii) Close the year 2004: TC: AJAB Note: Unless depreciation for all the months is posted for all the assets you cannot close the year. iv) Open year 2005: TC: AJRW
Check List for Period End Activities
Few Transaction Codes for Period end activities:
1 - Maintain Activity prices - KP26
2 - Release of Standard Cost Estimate - CK40N
3 - MM period close and open - MMPV
4 - FI period open
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
18 - Assessment cycles - Aux/WH CC to Main CC - KSU5
19 - Assessment cycles - Functional CC to SBU CC - KSU5
Check List for Period End Activities
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