MM period / Year Closing Activity and inventory Valuation ??

Hallow Experts !
At the time of Period end, we close the Posting Period in Transaction Code - MMPV. So as a Result system opens Next posting period Automatically. (Please Correct if i am wrong). At a time two posting periods are open, Current and previous posting period.
So, while this period close and open activity, The Material Stock valuation is carry forwarded from closing posting period to Opening period Automatically ?
I want to understand the System logic for this inventory valuation carry forward in brief.
Also please explain in brief, Year end activities by Materials Management side for material Valuation ???????
Thanks in Advance !!

Hi,
Before closing a period, you must ensure that all the transactions related to are posted( Examples: GR,IR etc…).Once you close the period in MM side, its difficult to post again in that closed period. For more read the SAP notes 487381.
You can check which period is open in MMRV( you can set here back posting allowed or not) and close the period in MMPV.
Initiation of period can be done in MMPI (1st time only) and setting of MM period can be done in OMSY.
Inventory valuation & automatic account posting depends on following T.codes and where is your material valuated (plant level or in co.code level)
1.OMSK: Valuation Class with Account category reference,
2.OMWM: Active Valuation Grouping Code,
3.OMWN: Active Movement type with G/L account,
4.OMWD: Active Valuation Area,
5.OMWB: Active Chart of account,Valuation Grouping Code,Account Grouping Code, Valuation Class and G/L acocounts
Regards,
Biju K

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    15. Close FI Posting period after the month end closing activity is over (T.Code:OB52)
    Year end closing Activities:
    1. Calculate production work in progress on process orders which are not technically complete. (CO88).
    2. Carry out Assessment cycle for Cost Centers.(T.Code: KSUB)
    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
    Hope this will make u clear
    Anup

  • Period End closing in controlling module.

    Hi Gurus,
    In our project, we have implemented FI, CO , MM, SD, PP, PM, and HR modules with payrolls. Our project has gone live this month(05.02.2007).
    Can anybody explain what are the steps to be taken for period closing in controlling.
    Some Production orders which are in process do not have standard cost estimates, what is the impact in WIP Calculation.
    Please also give info on how to transfer the Personnel Cost from HR Cost Centers to deferent production orders.
    Thanks in Advance
    Ganesh

    here is the list for FI/CO year end closing check list:
      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
    please reward points if useful.

  • Monthly & Yearly Closing

    Hi Sappers!
    1. I would like to know what steps & transaction codes are involved in period end (monthly & yearly) closing in FI.
    2. How do we carry forward the balances to the next period? Will opening & closing periods in OB52 achieve this?
    3. In our existing system once we close a particular module like Sales Order Module, it automatically transfers the amount in the General Ledger. How do we achieve his in SAP.
    4. Are there any special closing activities involved in quarterly closing?
    Appreciate your time!
    Vj

    Hi,
    Below is list of MEC/YEC transactions reqd usually see what applys in Your case.
    Check List for full 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)
    Regards
    Parag

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