3 Replies Latest reply: Dec 30, 2009 5:05 AM by kishore Kamarthapu RSS

Year End Activities - FICO

Hussein Merchant
Currently Being Moderated

Dear Experts,

 

Our Fiscal Year is from Jan-Dec. Therefore our FY will will end on 31 Dec 2009.

 

As far as I know, Year End Activities = Month End Activities + Carry-forward of Balances/Open Items of Balance Sheet GLs, Vendors & Customers.

 

Please help me and let me know which all activities i have missed out. I will appreciate if i am also provided T-Codes & Sequences against missing activities.

 

The modules which we have active are : FI, CO, Budgeting, Commitment, Asset Accounting and Internal Orders.

 

Edited by: Hussein  Merchant on Dec 29, 2009 12:55 PM

  • Re: Year End Activities - FICO
    Venkata Dara
    Currently Being Moderated

    Hi

     

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

    2. Close the Asset Fiscal Year -->AJAB

    3. Check Closed Fiscal Year for Assets -->OAAQ

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

    5. Balance Carry Forward for General Ledger -->F.16/FAGLGVTR

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

     

    Regards

    Venkat

  • Re: Year End Activities - FICO
    MohanaSundaram.M Murugaiyan.M
    Currently Being Moderated

    Hi Hussein Merchant,

     

    Check List for Closing

     

    SAP FI Check list for year end closing

     

    1 Execute Report for InterCompany Activity & Journal Entries

    2 Open posting period for next yr

    3 Run Business Area's Assignment report.

    4 Review list of recurring journal entries

    5 Execute Recurring Entries for A/R, A/P, G/L

    6 Process Parked A/R, A/P, G/L accounting documents

    7 Final Cutoff for the Maintenance of Fixed Asset- Add Transfer and Retire

    8 Run Depreciation in Test Run and post

    9 Verify Display Log for Depreciation Test Run

    10 Capitalize AUC Assets if needed

    11 Enter Payroll Data to SAP

    12 Verify Depreciation Balances with GL balances

    13 Post Depreciation

    14 Execute Asset History Report, and retire assets if needed

    15 Adjust specific depreciation areas if necessary

    16 Reconcile AM subledger with GL

    17 Check Bank Data

    18 Review AR Open Items

    19 Review AP Open Items

    20 Execute Pending Invoices

    21 Clear Open Item for GRIR, freight

    22 Reconciliation of Financial Documents and transactional figures

    23 Open new CO Posting Period

    24 Compare current (cost estimates) with last current price (Moving Avg)

    25 Update current cost price to material master price field.

    26 Process Freight charges, Match SD freight to actual

    27 Review Internal Order Postings

    28 Settle All Orders

    29 Verify All Post Goods Issue have been Invoiced (Billing Due List)

    30 Review SD Billng Doc from prior mth that have not yet been released to accounting

    31 Reconciliation of MM movements in Transit Intra-SAP to NonSAP

    32 Reconcile PI Inventory with SAP

    33 Perform Manual Adjustment if needed

    34 Verify balance of the GR/IR account

    35 Post Accruals and Deferrals

    36 Clearing of Cancelled Documents

    37 Check Profitability Segment Adjustment

    38 Aging Report-Reconcile GL balances with subledger balances AP

    39 Check the check run numbers

    40 Bank reconciliation Data

    41 Enter Tax Journal Entry

    42 Reconcile GL balances with subledger balances AR/MM/AP

    43 Display Balance Sheet Adjustments

    44 Post Balance Sheet Adjustments

    45 Post Foreign Currency Valuation (foreign exchange)

    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

    49 Check COGI--for both month end and year end

    50 Doubtful receiviables

    51 Verify In-transist Inventory

    52 Reconcile PA to G/L

    53 Post Cost Centre Assessments and Distributions

    54 Run CO-FI Reconciliation to balance

    55 Run BW reports P&L and Balance Sheet

    56 Maintain CO yr variant

    57 Fiscal Yr Balance carryforward AP/AR/AM

    58 Fiscal Yr Balance carryforward CO

    59 Fiscal Yr balance carryforward FI

    60 Fiscal Yr balance carryforward PCA

    61 Set Document number ranges - FI - new year

    62 Set Document number ranges AP/AR - new year

    63 Generate Financial statement Reports

    64 Change Fiscal Year For Assets

    65 Year end Closing-- Asset Accounting--final for year end

    66 Close CO Posting Period

    67 Close Prior A/R Posting Period

    68 Close Prior A/P Posting Period

    69 Close Prior MM Posting Period

    70 Reverse accruals and deferrals for the new month

    71 Reconciliation of Financial Documents from old fiscal year and new fiscal year

    72 Load Balances, Budget Data for Cost centers, sales

    73 Update Retained Earning Account , balance carry fwd

     

     

    Thanks and Regards,

    Mohan.

  • Re: Year End Activities - FICO
    kishore Kamarthapu
    Currently Being Moderated

    Hi,

     

    Check the below link for More Information Month end and year end activities.

     

    https://wiki.sdn.sap.com/wiki/display/ERPFI/FICOPeriodEndActivities-+Periodicity

     

    Regards,

     

    Kishore K

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