year end closing activities for mm, fi, assets and co

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  • 8/12/2019 Year End Closing Activities for MM, FI, ASSETS and CO

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    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/L6 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 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 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 numbers40 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

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    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 Distributions54 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

    62 Set Document number ranges AP/AR

    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

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    Month End and Year End Closing Operations

    Month

    End Closing

    Operations

    Module Sr.

    No.

    Process Description T Code / Menu-path Periodicity(D/W/M) Person Responsible /

    Location

    MM 1 Inventory balance Programm ZBIL Monthly Logistic

    MM 2 Inventory

    Revaluation

    MR22

    Logistics > Materials

    Management > Valuation >

    Change in Material Price >

    Change Material Prices

    Monthly Corporate Accounts

    MM 3 Physical Inventory

    Differences-Post ,after Physical

    counting

    MI07 -

    Logistics > MaterialsManagement > Physical

    Inventory > Difference > Post

    (+ MI01 MI04 )

    Monthly Depot/corporate accounts

    after prior approval fromhead of finance

    MM 4 PO Closure ME22N -

    Logistics > Materials

    Management > Purchasing >

    Purchase Order > Change

    Monthly Purchase dept

    SD 5 Check Billing Due

    List for the last

    days in the month

    VF04 -

    * *Logistics > Sales and

    Distribution > Billing > Billing

    Document > Process Billing Due

    List

    Monthly Logtistics/Sales Admin.

    SD 6 General check of

    SD billing flows

    of Goods Issues

    without invoices

    VL06F -

    Information Systems > General

    Report Selection > Sales and

    Distribution >Shipping >

    Delivery Monitor

    Monthly Logtistics/Sales Admin.

    FI 7 General account

    manual FI postings

    FB50 / KE21N Monthly Corporate Accounts

    SD 8 Release SD billing

    to Accounting

    VFX3 -

    Logistics > Sales and

    Distribution > Billing > Billing

    Document > Blocked Billing

    Docs

    Monthly Logtistics/Sales Admin.

    COPA 9 Reconciliation

    between CO/FI/SD

    KEAT

    Accounting > Controlling >

    Profitability Analysis > Tools >

    Monthly Reporting

    http://wiki.sdn.sap.com/wiki/display/ERPFI/Month+End+and+Year+End+Closing+Operationshttp://wiki.sdn.sap.com/wiki/display/ERPFI/Month+End+and+Year+End+Closing+Operationshttp://wiki.sdn.sap.com/wiki/display/ERPFI/Month+End+and+Year+End+Closing+Operations
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    Analyze Value Flows

    FI &

    COPA

    10 Invoicing

    Regularisation

    of deliveries non

    invoiced

    FB50

    Accounting -> Financial

    Accounting-> General Ledger ->

    Document Entry -> FB50 -

    Enter G/L Account Document

    Monthly Reporting

    FI-CO-SD 11 Ensure Return sale

    order -credit memo

    and transfer posting

    tally

    KE24/MB51 Monthly Sales

    Admin/Reporting/Accounts

    Payroll 12 Running of payroll

    interface

    NON STANDARD Monthly IT/Corporate Accounts

    MM 13 Open next MM

    Period

    MMPVLogistics > Material

    Managements > Material Master

    > Other > Close Period

    Monthly Manual orAutomated back

    ground job

    FI 14 Open FI Posting

    Periods

    OB52Accounting -> Financial

    Accounting-> General Ledger ->

    Environment -> Current Settings

    -> S_ALR_87003642 - Open

    and Close Posting Periods

    Monthly Corporate Accounts

    CO/IM 15 Settlement of

    Investment Orders

    to AUC

    KO8G

    Accounting > Controlling >

    Internal Orders > Period-End

    Closing > Single Functions >

    Settlement > KO8G Collective

    Processing

    Monthly Reporting

    /Corporate Accounts

    CO/IM 16 Settlement of

    Investment Orders

    to Fixed Assets

    KO8G

    Accounting -> Investment

    Management -> Internal Orders

    ->Period-End Closing->Single

    Functions > Settlement >

    KO8G - Collective Processing

    Monthly Reporting/Corporate

    Accounts

    FI 17 Depreciation Run AFAB

    -Accounting -> Financial

    Accounting-> Fixed Assets ->

    Periodic Processing ->

    Depreciation Run -> AFAB -

    Execute

    Monthly Reporting/Corporate

    Accounts

    FI 18 Maintain Exchange

    Rates

    OB08

    Accounting -> Financial

    Accounting-> General Ledger ->

    Environment -> Current Settings

    -> S_BCE_68000174 - Enter

    interface MEDECO

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    Translation Rates

    FI 19 Post Accrual /

    Deferral Entries

    FBS1

    Accounting -> Financial

    Accounting-> General Ledger ->

    Periodic Processing -> Closing -

    > Valuate -> FBS1 - Enter

    Accrual/Deferral Doc.

    Monthly Corporate Accounts

    FI 20 Post Recurring

    Entries

    F.14

    Accounting -> Financial

    Accounting-> General Ledger ->

    Periodic Processing ->

    Recurring Entries -> F.14 -

    Execute

    Depends on Nature of

    entry and target

    accrual dates

    Corporate Accounts

    FI 21 Reverse Accrual /

    Deferral Entries

    F.81

    Accounting -> Financial

    Accounting-> General Ledger ->Periodic Processing -> Closing -

    > Valuate -> F.81 - Reverse

    Accrual/Deferral Document

    Monthly Corporate Accounts

    FI 22 Receivables and

    Payables

    Regroupements

    F101Accounting -> Accounts

    Receivables -> Periodic

    Processing -> Closing ->

    Regroup -> F101 -

    Receivables/payables

    Monthly Corporate Accounts

    FI 23 GR/IR Clearing F.13 Accounting -> Financial

    Accounting-> General Ledger ->

    Periodic Processing ->

    Automatic Clearing -> F.13 -

    Without Specification of

    Clearing Currency

    Monthly Corporate Accounts

    FI 24 Revaluation of

    Foreign Currency

    Balances

    F.05 Accounting -> Financial

    Accounting-> General Ledger ->

    Periodic Processing -> Closing -

    > Valuate -> F.05 - Foreign

    Currency Valuation

    Monthly/Weekly Corporate Accounts

    COCCA 25 Correction of FI

    documents forwrong cost centre

    entries

    KB61

    Accounting > Controlling >Cost Center Accounting >

    Actual Postings > KB61 Repost

    Line Items

    Weekly/Monthly

    CO 26 Period close in CO OKP1 Accounting >

    Controlling > Profitability

    Analysis > Actual Posting >

    Period End Closing > Transfer

    Monthly Reporting

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    Cost Center costs > Assessment

    CO-FI 27 CO-FI Reco S_ALR_87013603

    Accounting > Controlling > Cost

    Element Accounting >

    Information System > Reports

    for Cost and Revenue Element

    Acc > Reconciliation > CO/FI

    Reconciliation in CoCd

    Currency

    Weekly/Monthly Reporting

    COPA 28 CO - PA

    assessment

    KEU5 Accounting >

    Controlling > Profitability

    Analysis > Actual Posting >

    Period End Closing > Transfer

    Cost Center costs > Assessment

    Monthly Reporting

    COPA 29 Reconciliation

    between CO - CCA- COPA

    GR55 ZTL8 Accounting >

    Controlling > Cost CenterAccounting > Information

    System > Tools > Report Painter

    > Report Writer > Report

    Group ZTL8> Execute

    Monthly Reporting

    COPA 30 RES1 Report

    execution and

    validation

    KE30

    Accounting > Controlling >

    Profitability Analysis >

    Information System > Execute

    Report

    D/W/M Reporting

    FI 31 Balance Audit

    Trail

    S_ALR_87100205 -

    General Ledger >Periodic

    Processing > Closing >

    Document > Balance Audit Trail

    > All Accounts >

    S_ALR_87100205 - General

    Ledger from the Document File

    Monthly Corporate Accounts

    FI 32 Compact Journal S_ALR_87012289

    Accounting -> Financial

    Accounting-> General Ledger ->

    Periodic Processing ->Closing >

    Report > General Ledger

    Reports >Document > General

    > Compact Document Journal

    Monthly Corporate Accounts

    FI 33 VAT Liability F.38 General Ledger >Periodic

    Processing > Closing > Report >

    F.38 - Transfer Deferred Tax

    Monthly Corporate Accounts

    FI 34 VAT Liability F-32Accounting -> Financial

    Accounting-> General Ledger ->

    Monthly Corporate Accounts

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    Document Entry -> F-02 -

    General Posting

    FI 35 Analyse GR / IR a/c

    to crystalise and

    close the liability in

    the GR / IR a/c to

    chase up invoices

    FBL3N / F.13

    (TEST run and without tick "

    only docs which can be cleared"

    Monthly Corporate Accounts

    FI 34 Review and

    download the p& l

    and balance sheet

    S_ALR_87012284 Ledger -

    Reporting -> Information

    System -> General Ledger

    Reports > Balance Sheet/ Profit

    and Loss Statement / Cash Flow

    ->General > Actual/Actual

    Comparisons -

    >S_ALR_87012284

    Monthly Corporate Accounts/

    Reporting

    IM 35 InvestmentManagement

    Report

    S_ALR_87013019Accounting -> Investment

    Management -> Internal Orders

    ->Information System ->Reports

    for Internal Orders ->More

    Reports

    S_ALR_87013019

    S_ALR_87012816 ,

    S_ALR_87012824 ,

    S_ALR_87012993 ,

    S_ALR_87012994 :

    Monthly Reporting

    IM 36 InvestmentManagement

    Report

    AW01NAccounting > Investment

    Management > Fixed Assets

    >Asset > AW01N Asset

    Explorer

    D/W/M Reporting

    Module Sr. Process T Code / Menu-path Preceding Subsequent Periodicity(D/W/M) Person

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    No. Description Dependency Process

    Impacted

    Responsible

    / Location

    FI 1 Open FI

    Posting

    Periods

    OB52 Accounting ->

    Financial Accounting->

    General Ledger ->

    Environment -> Current

    Settings ->

    S_ALR_87003642 - Open

    and Close Posting Periods

    Open period

    13

    closeNormal

    periods 1 to 12

    initially.

    OpenSpecial

    Period 13 ,

    only for non

    sales accounts (

    exclude

    accounts 7*)

    Allows all

    specific en

    year postings

    Annual Corporate

    Accounts

    FI 2 End year

    Manual FI

    Postings

    FB50 Accounting ->

    Financial Accounting->

    General Ledger ->

    Document Entry -> FB50 -

    Enter G/L Account

    Document

    All specific

    postings for

    regularisation

    involving

    generation of

    and FI and non

    sales imapct

    -commissions

    on sales

    Annual Corporate

    Accounts

    FI 3 Fiscal Year

    Change for

    Fixed Assets

    AJRW Accounting ->

    Financial Accounting->

    Fixed Assets -> Periodic

    Processing -> AJRW -

    Fiscal Year Change

    None 1/Calcul

    evaluation on

    next period

    2/Posting to

    Assets

    Accounting in

    next Fiscal

    Year

    3/reporting

    Budget

    Annual Corporate

    Accounts

    FI 4 Open FI

    Posting

    Periods

    OB52 Accounting ->

    Financial Accounting->

    General Ledger ->

    Environment -> Current

    Settings ->

    S_ALR_87003642 - Open

    and Close Posting Periods

    Close Special

    Period 13 to 16

    to be closed

    after full &

    complete

    finalisation. of

    trial balance.

    All processing

    involving

    generation of

    and FI

    Document not

    allowed in next

    posting period.

    Annual Corporate

    Accounts

    FI 5 Fixed Assets

    Year-End

    Closing

    AJAB Accounting ->

    Financial Accounting->

    Fixed Assets -> Periodic

    Processing -> Year-End

    Closing -> AJAB -

    Execute

    After END

    closing period

    13

    =>Completion

    of

    Capitalization

    Posting to

    Previous Fiscal

    Year can not

    be continued

    after the year-

    end closing

    Annual Corporate

    Accounts

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    Activities and

    Posting of

    Final

    Depreciation

    Run for the

    Fiscal Year.

    FI 6 Account

    Reconciliation

    for Fixed

    Assets

    ABST2 Accounting ->

    Financial Accounting->

    Fixed Assets -> Periodic

    Processing -> Year-End

    Closing -> ABST2 -

    Account Reconciliation

    After END

    closing period

    13

    =>

    Completion of

    Capitalisation

    Activities and

    Posting of

    Final

    Depreciation

    Run for the

    Fiscal Year.

    Rectification

    of reported

    errors on

    account of

    Capitalisation

    or depreciation

    Annual Corporate

    Accounts

    FI 7 Vendors &

    Customers

    F.07 Accounting ->

    Financial Accounting->

    Accounts Payable ->

    Periodic Processing ->

    Closing -> Carrying

    Forward -> F.07 - Balance

    Carry Forward

    Scrutiny and

    closing of all

    Vendor &

    Customer

    accounts

    Annual Corporate

    Accounts

    FI 8 Balance Sheet

    GL

    F.16 Accounting ->

    Financial Accounting->

    General Ledger -> Periodic

    Processing -> Closing ->

    Carrying Forward -> F.16 -

    Balance Carry Forward

    Scrutiny and

    closing of all

    GL Balance

    Sheet accounts

    Annual Corporate

    Accounts

    FI 9 P & L Items F.16 Accounting ->

    Financial Accounting->

    General Ledger -> Periodic

    Processing -> Closing ->

    Carrying Forward -> F.16 -

    Balance Carry Forward

    Scrutiny and

    closing of all

    GL P & L

    accounts

    Annual Corporate

    Accounts

    CO 10 Period close inCO

    OKP1Accounting > Controlling

    > Profitability Analysis >

    Actual Posting > Period

    End Closing > Transfer

    Cost Center costs >

    Assessment

    FI closing doneand FI period is

    closed for last

    month.

    CO processand assessment

    cycle

    run,RES1

    reporting

    Annual Reporting

    CO-IM 11 Carry forward KOCF Budgetory Annual Reporting

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    of open

    commitments

    for investment

    Accounting > Controlling

    >Internal Orders > Year-

    End Closing >

    Commitment Carryforward

    control on

    investment in

    next year

    COCCA 12 Checking

    overhead

    report(before

    and after

    assessment

    run)

    S_ALR_87013611 ,

    S_ALR_87013634 ,

    S_ALR_87013635 ,

    S_ALR_87013625

    MIS reporting

    ????

    Annual Reporting

    FI 13 Review and

    download the

    p& l and

    balance sheet

    S_ALR_87012284

    Ledger -Reporting ->

    Information System ->

    General Ledger Reports >

    Balance Sheet/ Profit and

    Loss Statement / Cash

    Flow ->General >

    Actual/Actual

    Comparisons -

    >S_ALR_87012284

    Scrutinise &

    Download P&

    L and Balance

    Sheet

    Year end Annual Corporate

    Accounts

    IM 14 Investment

    Management

    Report

    _ALR_87013019

    List:

    Budget/Actual/Commit:

    Accounting -> Investment

    Management -> Internal

    Orders ->Information

    System ->Reports for

    Internal Orders ->More

    Reports :

    S_ALR_87012816 ,

    S_ALR_87012824 ,

    S_ALR_87012993 ,

    S_ALR_87012994 :

    Special FI

    periods

    closed

    Reporting Annual Reporting

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