Period End Closing in SAP S/4 HANA

[former_member518355]

Which are the steps to be followed from SAP FI perspective in SAP S/4 HANA for:

a) Month End Closing and

b) Year End Closing ?

A bullet-point list for both would be quite helpful.

[SarhanP]

Hi george,

I think you are looking for something like that:

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)
10. Capitalize AUC Assets if needed (T.Code: AIAB, AIBU)
11. Enter Payroll Data to SAP (T.Code: CAT2)
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)

good resource here : https://sadiquehussain26.wordpress.com/

[former_member518355]

Something like that which is applicable for S/4 HANA.

At the above, some steps are not applicable in S/4 HANA (e.g AJRW, ABST2, F.16).

So in other words, which steps are followed by someone with S/4 HANA willing and trying to do month/year end closing activities?

[former_member518355]

One case found so far is that beside OB52, in order to be able to post to the new FY is to run FAGLGVTR (Balance Carry Forward - F.16 is not applicable) for all ledgers of the Company Code.

[SarhanP]

Hi George,

Financial Closing is a llitle bit complex process and even it is a standard process it may vary from company to company. SAP has a special add-on for this purpose and called 'Financial Closing Cockpit',

This blog may open you new doors: https://blogs.sap.com/2014/09/25/closing-cockpit/

Cheers,

Sarhan.

[former_member518355]

Hi Sarhan and thanks. However you are referring to an approach of that process while I need a list of things to be taken into consideration.

E. g: Open/Close Periods (OB52), Balance Carry-Forward, .... etc etc