2 Replies Latest reply: Mar 31, 2010 7:46 AM by MohanaSundaram.M Murugaiyan.M RSS

FI year end and closing process

Pravarshan potdar
Currently Being Moderated

experts

 

i want to close year end for FI so please guide to me how to close year and what is process for year end.

 

it is for FI-AA ( for Asset and Deprecation ) , FI-AP , FI-AR, and FI-GL.

 

and what do exact process for special periods.

 

 

thanks in advance

 

pravarshan

  • Re: FI year end and closing process
    Racha Raj
    Currently Being Moderated

    Hi,

     

    Kinldy check the below links

     

    Re: Year End Activities - FICO

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

    Year End Activities

     

     

    Regards,

    Raj

  • Re: FI year end and closing process
    MohanaSundaram.M Murugaiyan.M
    Currently Being Moderated

    Hi,

     

    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.

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