7 Replies Latest reply: Aug 20, 2009 6:59 AM by Khemchand Khatri RSS

FI period end closing T-code and Procedure

Kesava balaji
Currently Being Moderated

Hi experts,

 

I would like to close the FI period end.

Therefore, could you advise me the T-code to be used for FI period end closing and

advise me the procedure to do the closings.

 

Best regards,

Kesav.

  • Re: FI period end closing T-code and Procedure
    CHANDRA SEKHAR BADETI JHANSI SAI SASIDHAR BADETI
    Currently Being Moderated

    Hi,

     

    T Code for Open and Close posting periods in FI is OB52.

     

    If you are doing in DEV Client, you have to perform some period end closing procedures.

     

    Thanks

    Chandra

    • Re: FI period end closing T-code and Procedure
      Kesava balaji
      Currently Being Moderated

      Hi,

       

      Yes, I doing in Dev Client. Could you please let me know the procedures to be performed.

       

      Thanks in advance.

       

      Best regards,

      Kesav

      • Re: FI period end closing T-code and Procedure
        CHANDRA SEKHAR BADETI JHANSI SAI SASIDHAR BADETI
        Currently Being Moderated

        Hi,

         

        I will send with in 5 mts.

         

        Thanks

        Chandra

        • Re: FI period end closing T-code and Procedure
          CHANDRA SEKHAR BADETI JHANSI SAI SASIDHAR BADETI
          Currently Being Moderated

          Hi,

          Please find the below Activities has to be performed when doing Period End Closing.

           

          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)

           

          If you want to perform Month End Activities then follow the below minimum activities

           

          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.

           

           

          Thanks

          Chandra

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