year end closing

[Former Member]

Dear Experts,

our client is about to close year 2008 ,could anyone send me the year end closing steps.

Thanks,

Amir

[former_member565100 · Accepted solution]

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)

10 Capitalize AUC Assets if needed (T.Code: AIAB, AIBU)

11 Enter Payroll Data to SAP (T.Code: CAT2)-NA

12 Verify Depreciation Balances with GL balances ( T.Code: ABST2)

13 Post Depreciation (T.Code: AFAB)

14 Execute Asset History Report, and retire assets if needed (T.Code: S_ALR_87011963, ABAVN)

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

16 Reconcile AM sub ledger with GL (T.Code: ABST2)

17 Check Bank Data (T.Code: S_P99_41000212)

18 Review AR Open Items (T.Code: FBL5N)

19 Review AP Open Items (FBL1N)

20 Execute Pending Invoices(T.Code: MRBP)

21 Clear Open Item for GRIR, freight (T.Code: F.13)

22 Reconciliation of Financial Documents and transactional figures (F.03)

23 Open new CO Posting Period: (T.Code: OKP1)

24 Compare current (cost estimates) with last current price (Moving Avg) ( T.Code: OKBH)

25 Update current cost price to material master price field (T.Code: CK11N, CK24)

26 Process Freight charges, Match SD freight to actual (T.Code: V-31)

27 Review Internal Order Postings(T.Code: OKSA)

28 Settle All Orders (T.Code: KO88)

29 Verify All Post Goods Issue have been Invoiced (Billing Due List) (T.Code: VF04)

30 Review SD Billing Doc from prior month that have not yet been released to accounting (T.Code : F.2D)

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

32 Reconcile PI Inventory with SAP (T.Code: MI07)

33 Perform Manual Adjustment if needed (T.Code: F-02, FB50)

34 Verify balance of the GR/IR account ( T.Code: MB5S)

35 Post Accruals and Deferrals (T.Code: FBS1)

36 Clearing of Cancelled Documents (T.Code: F-03, F-32, F-44)

37 Check Profitability Segment Adjustment (T.Code: KISR)

38 Aging Report-Reconcile GL balances with sub ledger balances AP ( T.code: FBL1N, FBL5N, FBL3N)

39 Check the check run numbers (T.Code: FCH1, FCHI)

40 Bank reconciliation Data (T.Code: FF67 & FEBA)

41 Enter Tax Journal Entry (T.Code: FB41)

42 Reconcile GL balances with sub ledger balances AR/MM/AP ( T.Code: F.03)

43 Display Balance Sheet Adjustments (T.Code: F.5F)

44 Post Balance Sheet Adjustments (T.Code: F.5E)

45 Post Foreign Currency Valuation (foreign exchange) (T.Code: F.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, Cost Elements, CO area (T.Code: GGB0)

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

50 Doubtful receivables (T.Code : F104)

51 Verify In-transit Inventory

52 Reconcile PA to G/L (T.Code: KE5U)

53 Post Cost Center Assessments and Distributions (T.Code: KSU5 & KSV5)

54 Run CO-FI Reconciliation to balance (T.Code: KALC)

55 Run BW reports P&L and Balance Sheet

56 Maintain CO yr variant (T.Code: KCRQ)

57 Fiscal Yr Balance carry forward AP/AR/AM (T.Code: F.07,

58 Fiscal Yr Balance carry forward CO (T.Code: CXS1)

59 Fiscal Yr balance carry forward FI ( T.Code: F.16)

60 Fiscal Yr balance carry forward PCA (T.Code: 2KES)

61 Set Document number ranges - FI - new year (T.Code: OBH2, OBA7)

62 Set Document number ranges AP/AR - new year (OBA7)

63 Generate Financial statement Reports ( T.Code:OB58) OR (T.Code: FSE2)

64 Change Fiscal Year For Assets (T.Code: AJRW)

65 Year end Closing-- Asset Accounting--final for year end (T.Code: AJAB)

66 Close CO Posting Period : (T.Code: OKP1)

67 Close Prior A/R Posting Period ( T.Code: OB52)

68 Close Prior A/P Posting Period (T.Code: OB52)

69 Close Prior MM Posting Period (T.Code: OMSY)

70 Reverse accruals and deferrals for the new month (T.Code: F.81)

71 Reconciliation of Financial Documents from old fiscal year and new fiscal year ( T.Code: FNSL)

72 Load Balances, Budget Data for Cost centers, sales

73 Update Retained Earning Account , balance carry fwd (T.Code: F.16)