Step for End Year Closing fo SAP FI.docx

7/28/2019 Step for End Year Closing fo SAP FI.docx

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Step for End Year Closing for SAP FI

I would like to know steps or T-CODE for end year closing.

1) With TC: F.16 we can carry forward the balance to next year.

2) With TC: OBH2 copy the number ranges to next year3) Open next year periods by selecting the Posting Period Variant.

4) Then test by posting the transaction in F-02

Hope I am clear. If any more doubts please let me know.

Ashok

How about TC : OB52, when we can't run that steps?

Tonny

Check List:

In order to arrive at correct profit or loss for the month following checklist can be followed:

Month end closing Activities

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

booked.

2) Complete Bank Reconciliation

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.

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) (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


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15) Close FI Posting period after the month end closing activity is over.

Year end closing Activities

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

2) Carry out Assessment cycle for Cost Centers.

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)

Rehan Ansari

We dont use TC:OB52 for end year closing?

Tonny

I have replied partly to your query. sorry for that. I have sent you the opening new year reords.

The closing procedure is as follows: -

1. Carry forward Vendor & Customer Balances: TC: F.07

2. Assets:

i) TC: OB 52 - for assets 2 years can be openned at a time.

ii) check which year is closed: TC: OAAQ

iii) Close the year 2004: TC: AJABNote: Unless depreciation for all the months is posted for all the assets you cannot close the year.

iv) Open year 2005: TC: AJRW

Hope the above clears your doubt.

The clearing between the customer and vendor can happen by following the below settings

1. The customer number must be entered in the corresponding vendor master record

a. FK02->General Data -> Control

In the Account control tab, in the Customer field, enter the customer number

b.In the Company Code Data> Payment Transaction Accounting, select the checkboxClrg with Cust

note:Ifyou do not fill Customer field ,the Clrg with Cust field can not display.

2. The vendor number must be entered in the corresponding customer master record

a. FD02->General Data -> Control

In the Account control tab, in the Vender field, enter the vendor number


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b. In the Company Code Data> Payment Transaction Accounting, select the checkboxClearing with vendor

3. For testing, create a vendor invoice through FB60 and customer invoice through FB70. Note that customer and

vendor are properly selected.

4. To see the vendor/customer balance both together use FBL1N/FBL5N, when you execute FBL1N select customercheck box, when you execute FBL5N select vendor check box along with open item/cleared item check box

5. For clearing the open items. Use the TCode F-32. On clicking the Process open Items, the vendor invoice (KR)

and customer invoice (DR) are shown automatically. It will generate the FI document with proper entry.

Note: Partial / Residual payment between customer and vendor is also possible

Documents

Step for End Year Closing fo SAP FI.docx