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Former Member

Month End Closing

Dear All,

I am the SAP liason to the business side.

The core SAP development team resides in a remote location and the communication between business side and SAP developers is only through email.

In that case, what would you suggest as check points to follow as a liason for supporting month end activities, if any difficulties arises. I'm hoping that some of you have gone through month end activities and have faced such kind of issues.

Best Regards

Prabin

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  • Posted on Aug 14, 2009 at 08:44 PM

    Hello Prabin,

    I don't know your country legal requirements but I try to write standart month-end closing operatios.

    - Foreign Currency Valuation

    - Reclassify your account ( Regrouping debit and credit balance for customers and vendors / GR/IR account regrouping )

    - In CO side, distribution costs.

    - Take Purchase (Input tax) and Sales (Output tax) Tax returns report

    - In AA side, run periodic deprication.

    Those are the basic operations for month-end closing operations.

    Regards,

    Burak

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  • author's profile photo Former Member
    Former Member
    Posted on Aug 16, 2009 at 02:38 PM

    Hi Prabin,

    A typical month-end activities would include -

    1 - Foreign currency valuation

    2 - Posting recurring entries

    3 - Accrual and deferral entries

    4 - Automatic clearing (GR/IR open item mostly)

    5 - Maintain exchange rates

    6 - Post depreciation for the month

    7 - Withholding tax payments

    8 - Run and check reports for Tax and other statutory requirements

    9 - Close periods - FI as well as logistics.

    Hope this helps.

    Thanks and Regards,

    Anit

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