Steps for Monthly-end closing and yearly-end closing

Http://www.sap-basis-abap.com/fico/sap-fi-month-end-and-year-end-activities.htm

First you'll have to close the Posting period in the materials Management side. To does this use the T.code MMPV and give the period that needs to be opened. Once This is do you'll not be able to Post any Material Documents in the previous period.

Now at the financial side your need to open the next period and at the same time you need to close the Previous period. This can is done in T.code OB52

Here are the list for Fi/co year end closing check list:

Now I am sending one document with T.codes

CLOSING Activities

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)

Capitalize AUC Assets if needed (T.code:aiab, Aibu)

Enter Payroll Data to SAP (T.CODE:CAT2)

Verify depreciation balances with GL balances (T.CODE:ABST2)

Post Depreciation (T.code:afab)

Execute Asset History Report, and retire assets if needed (t.code:s_alr_87011963, Abavn)

Adjust specific depreciation areas if necessary (T.CODE:ABCO)

Reconcile AM Sub ledger with GL (T.CODE:ABST2)

Check Bank Data (t.code:s_p99_41000212)

Review AR Open Items (t.code:fbl5n)

Review AP Open Items (fbl1n)

Execute Pending Invoices (T.CODE:MRBP)

+ Clear Open Item for Grir, freight (t.code:f.13)

Reconciliation of financial Documents and transactional figures (f.03)

Open new CO Posting Period: (T.CODE:OKP1)

Compare current (cost estimates) and last current price (moving AVG) (T.CODE:OKBH)

Update Current cost price to material Master Price field (t.code:ck11n, CK24)

+ Process Freight charges, Match SD Freight to actual (t.code:v-31)

Review Internal Order postings (T.code:oksa)

Settle all Orders (t.code:ko88)

Verify all Post Goods Issue has been invoiced (billing Due List) (t.code:vf04)

Review SD billing Doc from prior month, that has not yet been released to accounting (T.code:f.2d)

Reconciliation of MM movements in Transit Intra-sap to Non SAP

Reconcile PI Inventory with SAP (t.code:mi07)

Perform Manual Adjustment if needed (t.code:f-02, FB50)

Verify balance of the Gr/ir account (t.code:mb5s)

Post Accruals and deferrals (T.CODE:FBS1)

Clearing of Cancelled Documents (t.code:f-03, F-32, F-44)

Panax Notoginseng Check Profitability Segment adjustment (T.CODE:KISR)

Aging Report-reconcile GL balances with sub ledger balances AP (t.code:fbl1n, fbl5n, fbl3n)

Check the check run numbers (T.code:fch1, Fchi)

Bank Reconciliation Data (t.code:ff67 & Feba)

$ Enter Tax Journal Entry (t.code:fb41)

Reconcile GL balances with sub ledger balances Ar/mm/ap (t.code:f.03)

Display Balance Sheet adjustments (t.code:f.5f)

Balance Sheet adjustments (t.code:f.5e)

Currency Post Foreign Valuation (Foreign Exchange) (t.code:f.05)

Check generic cost centers for posting with wrong accounts

Correct wrong postings on generic cost centers

Dates Check Validation Centers, cost Elements, CO area (t.code:ggb0)

Check Cogi--for Both month end and year end

Doubtful Receivables (t.code:f104)

Wuyi Verify in-transit Inventory

Reconcile PA to G/L (t.code:ke5u)

Assessments and Distributions (T.code:ksu5 & KSV5) of the Post cost Center

Si Run co-fi reconciliation to balance (T.CODE:KALC)

Run BW reports P&l and Balance Sheet

Maintain CO yr Variant (T.CODE:KCRQ)

Fiscal Yr Balance carry Forward ap/ar/am (t.code:f.07,

Fiscal Yr Balance carry Forward CO (T.CODE:CXS1)

Fiscal Yr Balance Carry forward FI (t.code:f.16)

Fiscal Yr Balance Carry forward PCA (T.code:2kes)

Set Document number ranges-fi-new year (T.CODE:OBH2, OBA7)

Set Document number ranges ap/ar-new year (OBA7)

Generate financial Statement Reports (T.CODE:OB58) OR (T.CODE:FSE2)

Fiscal year to Assets (T.CODE:AJRW)

closing--Asset accounting--final for Year end (T.code:ajab)

Period Close CO Posting: (T.CODE:OKP1)

A/R Close Prior Posting Period (t.code:ob52)

Prior a/p Posting Period (t.code:ob52)

Close Prior MM Posting Period (T.CODE:OMSY)

Reverse Accruals and deferrals for the new month (t.code:f.81)

Reconciliation of financial Documents from the old fiscal year and new fiscal year (T.CODE:FNSL)

Balances Load, Budget Data for cost centers, sales

Update retained earning account, Balance carry fwd (t.code:f.16)

Month End Closing Activities

1. All the expenses including amortization, prepaid expenses, preliminary expenses and accruals has been booked.

2. Complete Bank reconciliation (t.code:ff67)

3. Make sure this Sum of Inter company balances is Zero

4. Suspense Accounts should be cleared regularly.

5. Ensure that all documents related to MM & SD has been entered in system. (T.code:f-22 & F-43)

6. Ensure that all billing documents is released to accounting.

7. Calculate overheads on all process Orders (CO43)

8. Technically complete all process orders which is fully processed (corm).

9. Calculate Variance (KKS1) à (relevant if standard cost is calculated).

Ten. Settle all process orders which is technically complete (CO88).

Close all settled Process Orders

Close MM period (Transaction CODE:MMPV).

Carry out gr/ir Clearing (f.13) transaction

Depreciation Run (AFAB) has been carried out for the month

Close FI Posting period after the month end closing activity was over (T.CODE:OB52)

Year End Closing activities:

1. Calculate production work in progress on process orders which is not technically complete. (CO88).

2. Carry out assessment cycle for cost Centers. (t.code:ksub)

3. All month end closing activities should is 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 of 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).

Steps for Monthly-end closing and yearly-end closing