Period End Posting

[Former Member]

What are all the normal steps that we need to perform on the Period End Posting?

As a Proof of Concept we have currently configured our SAP System for 100 GL Accounts and 10 Vendor accounts.

Now we wanted to perform the Period End Posting configuration? If there are any guidelines to follow?

Appreciated

[saif_sabri · Accepted solution]

Hi

Year-end closing is split into two phases:

- At the beginning of the new fiscal year, you open the new posting periods and carry forward

the balances from the previous year.

- You then prepare and create the financial statements, document the business transactions

using the balance audit trail, and archive those documents you no longer need online.

Year-end closing

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. Maintain posting periods

. Account balances for old fiscal year

. Balance carried forward for all accounts

. Account balances for the new fiscal year, reconciliation with the balance lists for the old fiscal year.

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. Financial statement preparation

. Block old fiscal year

. Create financial statements

Compact journal

Account balances

Create extracts for further applications

. Balance audit trail

. Document archiving

The first posting in the new fiscal year automatically opens that fiscal year. You must however

have opened the relevant posting period first.

The SAP System offers a range of reports with which you can carry forward balances into the

new fiscal year. During this process the profit and loss accounts are carried forward to one or

more retained earnings accounts. The balances on the balance sheet accounts are simply

carried forward into the new fiscal year. You do not have to create special opening financial statements.

= Any postings you make in the old fiscal year automatically adjust the relevant carry-forward

balance. You do not have to close the old fiscal year and make the closing postings before

opening the new fiscal year.

Starting Programs

You can find the relevant programs for closing and reporting in the accounting menus General

Ledger, Accounts Receivable and Accounts Payable under Information system --> Reports for

General Ledger/Accounts Receivable/Accounts Payable.

You can run the programs in the background, usually online. Background processing allows you

to start the programs by themselves, or even on separate computers, to avoid affecting online

performance. Once you have started a background session, you cannot interrupt it until it is

finished. Background processing is always useful when you are evaluating large volumes of data.

For example, to create the document journal or the advance return for tax on sales and

purchases, since these programs evaluate the document position.

Activities

When processing data in the background, you should note the following:

• To be able to start the program in the background, you need a selection variant.

• When you select a program, the system displays the initial screen. To select a variant for

background processing, choose Goto --> Variants --> Get. You start the program by selecting

Program --> Execute in background.

Regards from Pakistan

[Former Member]

Hi,

You may follow the following steps:

1. Send month-end schedule and reminder for accruals, deferrals, and depreciation run to all department concerned

2. Perform month-end reviews. Different Module SD, AP, MM, AM, and GL to review their respective period end closing activities

3. Enter Recurring entries in F.14

4. Enter deferral and accruals in FBS1

5. Execute depreciation run program in AFAB

6. Close MM and open new FI period for MM in OB52

7. Generates Preliminary FS and schedules. Printing of General Ledger and schedule of operating expenses- periodic. This will form part of high level analysis of GL accounts.

8. Enter adjusting entries derived from analysis made by process owner in FB50.

9. Close previous period in OB52

Hope this helps.

Thanks,

Rod

[Former Member]

Please go through the below link.

https://wiki.sdn.sap.com/wiki/x/TQCmBQ