Month End Closing

[Former Member]

Hi All,

Can any body tell me, what are all the usual month end closing processes in FI and how to go about doing them. Urgent....would appreciate your time on this by awardin points...

Thanks

Ratheesh

[Former Member · Accepted solution]

hi

You can carry out the following activities as part of month-end closing:

1)Open and close posting periods

2)Recurring entries

3)Post accruals/deferrals

4)interest calculation

5)Execute the depreciation run and update the batch input session

6)GR/IR clearing account – clarify any differences and correct them if necessary

7)Valuate the foreign currency for the open items

8)Valuate the foreign currency for the balances

Thanq

[Former Member]

below are the list of transaction

Hope this helps. Assign points if helpful

shravanthi

1. Process Depreciation Run

Accounting -> Financial accounting -> Fixed assets -> Periodic processing -> Depreciation run -> Execute - AFAB

2. Process Investment Grant

Accounting -> Financial accounting -> Fixed assets -> Periodic processing -> Investment grant - AR11

3. Process Revaluation

Accounting -> Financial accounting -> Fixed assets -> Periodic processing -> Revaluation for the balance sheet -> Post revaluation - AR29

4. AA Fiscal Year Change

Accounting -> Financial accounting -> Fixed assets -> Periodic processing -> Fiscal year change - AJRW

5. AA Fiscal Year Close – Account Reconciliation

Accounting -> Financial accounting -> Fixed assets -> Periodic processing -> Year-end closing -> Account reconciliation - ABST2

6. AA Fiscal Year Close

Accounting -> Financial accounting -> Fixed assets -> Periodic processing -> Year-end closing -> Execute - AJAB

7. Produce Asset History Sheet

Accounting -> Financial accounting -> Fixed assets -> Info system -> Reports on Asset Accounting -> Balance Sheet Explanations -> International -> Asset History Sheet

or

Accounting -> Financial accounting -> Fixed assets -> Info system -> Reports on Asset Accounting -> Balance Sheet Explanations -> Country Specifics - various

8. Produce GR/IR Balance Report

Logistics -> Materials Management -> Inventory Management -> Environment -> Balances Display -> List of GR/IR Bals. - MB5S

9. Maintain GR/IR Clearing Account

Logistics -> Materials Management -> Invoice Verification -> Invoice Verification -> Further processing -> Maintain GR/IR acct - MR11

10. Material Revaluations – Price Changes (manual)

Logistics -> Materials Management -> Valuation -> Valuation -> Price Determination -> Change price - MR21

11. Material Revaluations – Debit/Credit Material

Logistics -> Materials Management -> Valuation -> Valuation -> Price Determination -> Debit/cred. material - MR22

12. Product Costing Material Price Change

Accounting -> Controlling -> Product Cost Controlling -> Product Cost Planning -> Material Costing -> Price Update - CK24

13. Material Ledger Closing

Logistics -> Materials Management -> Valuation -> Actual Costing/Material Ledger -> Periodic material valuation -> Post closing - CKMI

14. Materials Management Closing

Logistics -> Materials Management -> Material Master -> Other -> Close period - MMPV

15. Materials Management Closing – Control Posting to Prior Period

Logistics -> Materials Management -> Material Master -> Other -> Allow posting to previous period - MMRV

16. Lowest Value Determination – Market Prices

Logistics -> Materials Management -> Valuation -> Valuation -> Bal. sheet valuation -> Determ. lowest values -> Market prices - MRN0

17. Lowest Value Determination – Range of Coverage

Logistics -> Materials Management -> Valuation -> Valuation -> Bal. sheet valuation -> Determ. lowest values -> Range of coverage - MRN1

18. Lowest Value Determination – Movement Rate

Logistics -> Materials Management -> Valuation -> Valuation -> Bal. sheet valuation -> Determ. lowest values -> Movement rate - MRN2

19. Lowest Value Determination – Loss-Free Valuation

Logistics -> Materials Management -> Valuation -> Valuation -> Bal. sheet valuation -> Determ. lowest values -> Loss-free valuation - MRN3

20. LIFO Valuation

Logistics -> Materials Management -> Valuation -> Valuation -> Bal. sheet valuation -> LIFO Valuation - Various

21. FIFO Valuation

Logistics -> Materials Management -> Valuation -> Valuation -> Bal. sheet valuation -> FIFO Valuation - Various

22. Physical Inventory Processing

Logistics -> Materials Management -> Physical Inventory - Various

23. Analyze GR/IR Clearing Accounts and Display Acquisition Tax

Accounting -> Financial accounting -> General ledger -> Periodic processing -> Closing -> Regroup -> GR/IR clearing - F.19

24. Define Adjustment Accounts for GR/IR Clearing

IMG -> Financial Accounting -> General Ledger Accounting -> Business Transactions -> Closing -> Regrouping -> Define Adjustment Accounts for GR/IR Clearing - OBYP

25. Print Balance Confirmation

Accounting -> Financial accounting -> A/P or A/R -> Periodic processing -> Closing -> Check/count -> Balance confirmation: Print

or

Accounting -> Financial accounting -> A/P or A/R -> Periodic processing -> Print correspondence -> Balance confirmation -> Print letters - F.17

26. Configure Balance Confirmation

Accounting -> Financial accounting -> A/P or A/R -> Periodic processing -> Closing -> Check/count ->…

or

Accounting -> Financial accounting -> A/P or A/R -> Periodic processing -> Print correspondence -> Balance confirmation - F.1B, F.1A

27. Post Individual Value Adjustment

Accounting -> Financial accounting -> Accounts receivable -> Document entry -> Other -> Intern. trans. posting -> Without clearing - F-21

28. Define Account Determination for Flat-Rate Individual Value Adjustment

IMG -> Financial Accounting -> Accounts Receivable and Accounts Payable -> Business Transactions -> Closing -> Valuate -> Valuations -> Define Accounts OBB0

29. Configure Flat-Rate Individual Value Adjustment

IMG -> Financial Accounting -> Accounts Receivable and Accounts Payable -> Business Transactions -> Closing -> Valuate -> Valuations ->… SPRO

30. Calculate Flat-Rate Individual Value Adjustment

Accounting -> Financial accounting -> Accounts receivable -> Periodic processing -> Closing -> Valuate -> Further valuations - F107

31. Writing-Off Doubtful Receivables

Accounting -> Financial accounting -> Accounts receivable -> Document entry -> Other -> Intern. trans. psting -> With clearing - F-30

32. Customizing Exchange Rates

IMG -> General Settings -> Currencies - Various

33. Maintaining Exchange Rates

Accounting -> Financial accounting -> General ledger -> Environment -> Current settings -> Enter exchange rates - OB08

34. Customizing Valuation Methods

IMG -> Financial Accounting -> General Ledger Accounting -> Business Transactions -> Closing -> Valuating -> Foreign Currency Valuation -> Define Valuation Methods - OB59

35. Foreign Currency Open Item Valuation

Accounting -> Financial accounting -> General ledger -> Periodic processing -> Closing>>Valuate -> Valuation of Open Items in Foreign Currency - F.05

36. Account Determination for Exchange Rate Differences

IMG -> Financial Accounting -> General Ledger Accounting -> Business Transactions -> Closing -> Valuating -> Foreign Currency Valuation -> Prepare automatic postings for foreign currency valuation - OBA1

37. Regroup Receivables and Payables

Accounting -> Financial accounting -> A/P or A/R -> Periodic processing -> Closing -> Regroup -> Receivables/ Payables - F101

38. Account Determination for Regrouping Receivables and Payables

IMG -> Financial Accounting -> Accounts Receivable and Accounts Payable -> Business Transactions -> Closing -> Regrouping - OBBV, OBBW, OBBX

39. Revalue Foreign Currency G/L Account Balances

Accounting -> Financial accounting -> General ledger -> Periodic processing -> Closing -> Valuate -> Foreign Currency Valuation of Inventory - F.06

40. Posting Accruals/Deferrals

Accounting -> Financial accounting -> General ledger -> Periodic processing -> Closing -> Valuate -> Enter Accrual/Deferral Doc. - FBS1

41. Posting Accrual/Deferral Reversal

Accounting -> Financial accounting -> General ledger -> Periodic processing -> Closing -> Valuate -> Reverse Accrual/Deferral Document - F.81

42. Generate Recurring Entry Posting

Accounting -> Financial accounting -> General ledger -> Periodic processing -> Recurring Entries -> Execute - F.14

[Former Member]

Hi Shravanti,

That was really sweet...I really appreciate the time taken to put down all the menu paths, though I will not be using most of them cos we dont have MM and Asset accounting. But anyways I have given you good points, cos Iam sure its gona be very valuable and useful. And one more que, when do you do Reversal of accruals. I have posted a question on accruals can you reply to that if you know how to do it. Here is the link to the question:

https://www.sdn.sap.com/irj/sdn/forums.

Thank you once again.