what are the year end and month end activities carried in FI?

[Former Member]

Hi all,

I am new to FI, what is the steps or the activites/process to be carried out during the month end as well as the year end activities for FI.

Can anyone explain me about it and does sap provide any standard documentation on year end / month end activities.

Thanks

Pooja

[former_member380737 · Accepted solution]

Here you go:

1. Month-end closing in Financial Accounting

Update Exchange Rates

Gaps in Document Number Assignment

Invoice Numbers Allocated Twice

Open and Close Posting Periods

Enter Recurring Entries

Post Recurring Entries

Run Batch Input Session

Automatic Clearing of GR/ IR Account special process

Analyze GR/ IR Clearing Accounts

Automatic Clearing of GR/ IR Account

Post Adjustment Entries

Foreign Currency Revaluation

Post Tax Payable

Record of sales and Use Tax Report

Comparison Documents/ Transaction Figures

Close Previous Accounting Period

Balance Interest Calculation

Display Document Journal

Financial Statement

2. Year-end closing in Financial Accounting

Create Factory Calendar for New Year

Carry Forward AP/ AR Balances

Carry Forward GL Balances

Re-grouping Receivables/ Payables

Balance Confirmation Receivable

Balance Confirmation Payable

Final Close and Release Financial Reporting

Close Previous Accounting Period

Display Document Journal.

Print 1099 MISC forms (Only for USA)

Hope this helps

[kishore_babu15]

Hi pooja,

Check the below link for more details Year end activities and month end activities.

http://wiki.sdn.sap.com/wiki/display/ERPFI/MonthEndandYearEndClosingOperations

http://www.sap-img.com/financial/check-list-for-fi-year-end-closing.htm

Hope now clear.

Regards,

Kishore K

[Former Member]

Hi Pooja,

Please find the details below

Month end closing Activities

1. All the expenses including amortization, prepaid expenses, Preliminary expenses and accruals have been booked.

2. Complete Bank Reconciliation (T. Code: FF67)

3. Make sure that Sum of Inter Company balances is Zero

4. Suspense Accounts should be cleared regularly.

5. Ensure that all documents related to MM & SD have been entered in system. (T.Code:F-22 & F-43) 6. Ensure that all billing documents are released to accounting.

7. Calculate Overheads on all process Orders (CO43)

8. Technically complete all process orders which are fully processed (CORM).

9. Calculate Variance (KKS1)à (Relevant only if Standard cost is calculated).

10. Settle all process orders which are technically complete (CO88).

11. Close All settled Process Orders

12. Close MM period (Transaction Code: MMPV).

13. Carry out GR/IR clearing (F.13) transaction

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

15. Close FI Posting period after the month end closing activity is over (T.Code:OB52) Year end

Closing Activities:

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

2. Carry out Assessment cycle for Cost Centers (T. Code: KSUB)

3. All month end closing Activities should be 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 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)

SAP FI Month End and Year End Activities

1 - Maintain Activity prices - KP26

2 - Release of Standard Cost Estimate - CK40N

3 - MM period close and open - MMPV

4 - FI period open

5 - Parked documents to be posted - FBV0, MIRO

6 - Reposting of Inter Office CC - KB61

7 - Bank Reconciliation

8 - Update Section Code where missing - J1INPP

9 - Maintain GRIR clearing - F.13

10 - Provision for current month - FB50

11 - Depreciation entry - FB50

12 - Exchange rate - To be Updated

13 - Revaluation of foreign currency open items - F.05

14 - Recognition of Inventory at Bonded warehouse - FB50

15 - Maintain Statistical Key Figures - KB31N/KP46

16 - Variance Calculation of Process Orders - KKS1

17 - Settlement of variances - CO88

18 - Assessment cycles - Aux/WH CC to Main CC - KSU5

19 - Assessment cycles - Functional CC to SBU CC - KSU5

20 - Assessment cycles - SBU CC to COPA - KEU5

21 - Profit Center Reposting - 9KE0

22 - Balance Sheet Adjustment calculation - F.5D

23 - Transfer Profit Center to AR & AP - 1KEK

24 - Transfer Inventory to PCA - 1KEH

25 - Assessment Cycle - Dummy PC to SBU PC - 3KE5

26 - Check for u201CDelivery made, not Invoicedu201D - VF03

27 - Match GL and PCA - KE5T

28 - Match PCA and PA

29 - Top Down Distribution in COPA - KE28

30 - Reclassification of GL balances

31 - Balance Carry forward (Year End Only) - F.16

32 - PCA Balance Carry forward (Year End Only) - 2KES

33 - Transfer to FI - 1KE8

Regards,

JA

[Former Member]

Hi

Year End Activities include

1. Open New Fiscal Year or Fiscal Year Change for Assets -->AJRW

2. Close the Asset Fiscal Year -->AJAB

3. Balance Carry Forward for General Ledger -->F.16/FAGLGCTR

4. Balance Carry Forward for Vendors/Customers -->F.07

5. Copy Number Ranges for Next Fiscal Year -->OBH2

Month/Period End Activities include

Open New Period in FI

Ensuring all the Parked Documents/Hold Documents to be Completed

Close period in CO & MM

Close Period in FI

Regards

Venkat