Month end closing and Year end closing
Hi,
Does anyone have a list of t-codes to be run for month end and year end closing. I want to know what all steps are done for month/year closing.
We are only using FI,CO and MM and no other SAP modules.
Thanks,
Shruti
Hi,
The Month end Activities are as follows
Clearing the open items of vendor, customer
Clearing the suspense account regularly
All the Expenses Including the prepaid expenses have to be booked..
Intercompany Balances Should be Zero
Depreciation Run.
Recuring Entries.
Park documents to be posted(FBVO)
Accural and referal in any differneces.
GR/IR Clearing Transaction (Tcode-F.13)
Bank Reconciliation(Comparing the Company Books and Bank Statements)
Exchange rate to be updated
Revaluation of foreign currencyopen items(F.05)
Order Settlements.
Distribution Cycle
Assesment Cycle(KSU5)
Transfer the Inventory to Profit center(1KEH)
Match GL and PCA(KE5T)
MM period Close and Open (Tcode MMVP)
FI Period Open(Tcode OB52).
CO period Closing
Year End Process
All the Month end Activities should be Carried Out.
Balance Carried Forwarded to next year(F.16)
PCA Balance Carried Forward(2KES).
Carry forward the Vendor,Customer and Asset Balances
(Unless Dep is posted for all the months the assets can not be Closed)
Copy the No Ranges to new year
Open the Next year period(OB52)
I Hope this is Helpful,
Assign the Points.
Regards,
Padma
Similar Messages
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Month end accural and Year end accural processings.
Hi Experts,
Can you please give me an idea about month end accural and year end accural proecess in payroll?? What are the responsibilities of functional consultants in accural processing??
Thanks,
Kanna.Hi,
The purpose of the accrual process is to recognize payroll costs in the month in which they were incurred, i.e. when the employee actually performs the work.
This accrual process will result in a more accurate presentation of monthly and year-end payroll expenses and liabilities.
The accrual is calculated in HRMS and posts an entry in FI (debit department payroll expense and credit accrued liability) to account for the portion of earnings owed but not paid at month end.
The accrual is calculated as follows:
The system determines the fraction of the payrolls that were earned but not physically paid in the current month. This amount is calculated based on the number of days in each payroll that were earned in the month, as a fraction of the total number of days in each payroll (10 days for all biweekly payrolls). If an entire payroll was earned and not paid, then the fraction would be 1 (ie.100% accrual). Some months may have to accrue a fraction of one payroll, other months we may accrue more than one payroll.
~BiSu -
Opening and closing of year end
Dear all,
Pl what are the transaction code used for the opening and closing of year end activities. in fico module . what process we have to take for open and close the period open .
girijahi
Year End Process
All the Month end Activities should be Carried Out.
Balance Carried Forwarded to next year(F.16)
PCA Balance Carried Forward(2KES).
Carry forward the Vendor,Customer and Asset Balances
(Unless Dep is posted for all the months the assets can not be Closed)
Copy the No Ranges to new year
Open the Next year period(OB52)
asset accounting
oaar
ajab
ajrw
material management
omsy
mmpv
Thanks & Regards
phaneendra -
Month end and Year end Activities
Hi All,
What are the month end and year end activities are involved and how will they happen????
regards
vasanthaHi Vasantha,
Month-End Closing
http://help.sap.com/saphelp_erp60_sp/helpdata/en/96/8b3c2d43ce11d189ee0000e81ddfac/frameset.htm
Year-End Closing
http://help.sap.com/saphelp_erp60_sp/helpdata/en/96/8b3c2d43ce11d189ee0000e81ddfac/frameset.htm
Some of the Month-End Activities
- Open and Close Posting Periods
- GR/IR Clearing
- Adjustments in G/L, AR and AP accounts
- Foreign Currency valuation for Exchange rate fluctuations
- Transfer Postings to Reconciliation accounts from CO module
Some of the Year-End Activities
- Balance sheet adjustments
- GR/IR Clearing
- Adjustments to special Posting periods at year end
- Balance Confirmations for AR and AP accounts
- Run Balance Carryforward program for G/L, AR, AP accounts at year end or first day of next year
- Generate Financial statement for the current year
Best Regards,
Mohan.
Edited by: krishna on Dec 18, 2008 12:01 PM -
Month end and year end closings
hello guys,
Can anyone explain me about the series of steps that we have to do for month-end and year-end closings (FICO).
Thanks in advance..Hi,
Below are the month end activities
1. Recurring Documents.
a) Create Recurring documents
b) Create Batch Input for Posting Recurring Documents
c) Run the Batch Input Session
2. Posting Accruals or Provisions entries at month end
3. Managing the GR/IR Account-Run the GR/Ir Automatic Clearing
4. Foreign Currency Open Item Revaluation-Revalue Open Items in AR.AP
5. Maintain Exchange Rates
6. Run Balance Sheets Run Financial Statement Version
7. Reclassify Payables and Receivables if necessary
8. Run the Depreciation Calculation
9. Fiscal Year Change of Asset Accounting if it is year end
10. Run the Bank Reconciliation
11. Open Next Accounting Period
Assign points if useful
regards
genie -
Month-end and year-end valuation differences!
Hı Friends,
What are the differences between Month-end and year end valuation in the system?
Thank you!Yes
For example
31.12.2010
Dr/Cr Forex loss/gain a/c
Cr/Dr B/s adjustment a/c
01.01.2011
Dr/Cr B/s adjustment a/c
Cr/Dr Forex loss/gain a/c -
Mid year go live and year end go live
Hi Experts,
What is the difference in configuring Mid year go live and year end go live What are difficulties we face in mid year go live.
thanks & Regards.
Akhilhttps://forums.sdn.sap.com/click.jspa?searchID=21620306&messageID=6587485
you go live on the SAP payroll system in the middle of a financial year, you have an option to transfer your legacy data into the SAP payroll system.
The system provides the schema INLK for transferring your legacy data. For this purpose, you need to perform the following IMG activities:
Define the payroll periods for which you want to transfer the legacy data. For more information, refer to the IMG under Payroll India -> Legacy Data Transfer -> Define Periods for Import
Define the type of data you want to import. For more information refer to the IMG under Payroll India -> Legacy Data Transfer -> Define Pay Elements for Import
Upon execution along with the payroll driver, the schema INLK formats the information defined in the above tables as payroll results and stores the values in the database table PCL2.
For more information on the Legacy Data Transfer functionality, refer to OSS note number 506128. -
Month to Date and Year to Date Scenarios
<b>Dear SAP BI Gurus,
Can anyone please give me guidance how to create a Month to Date and Year To Date Scenarios (Variables perhaps?) for 0SRR_CF_C1? The date is in decimal and not DATE format Im assuming the reason for this is to get the Time variance . Nonetheless, Id like to create a MTD and YTD scenario for reporting.
Much Thanks
Philips Manalaysay</b>Hi,
You should take a look at the blog and doc below.
/people/vikash.agrawal/blog/2006/10/17/enable-trend-reporting-150-by-manipulating-variable-value
https://www.sdn.sap.com/irj/servlet/prt/portal/prtroot/docs/library/uuid/25d98cf6-0d01-0010-0e9b-edcd4597335a
Regards, -
FI-AA : Problem in Depreciation Run and Year end closing.
i am doing asset year end closing and new fiscal year open, i followed the steps as followings..
Step 1 Did depreciation run using T-code AFAB- no error
step 2 checked depreciation run in AFAR was correct(no error)
step 3.did actual run of new fiscal year open using tcode AJRW.
step 4 : did actual fiscal year closing t-code AJAB.
but now the problem is still i am not able to see any asset reports when open the report meg. says "fiscal year change not done for company code xxxxx"
problem due to is any patch need to be executed? or due to any other application error?, pls advice to solve this my issue.
with best regards,Hello
Choose Periodic processing ® Fiscal year change.
Enter the company code and the new fiscal year.
Choose Program ® Exec. in background.
Process the assets with errors that were identified during the fiscal year change (Tools ® Assets with errors).
Reg
*Assign points if useful -
Open documents and year end closing.
Hi experts,
I would like to know if it is necessary to close all open documents before we start the year end process.
Since practically it is not possible to close all open documents.
here open documents refer to Purchase orders, GRPO's, Sales orders, deliveries etc.
kindly suggest.hi ajith,
Purchase orders,sales order won't have any impact on accouting which will only
effect ordered,committed quantities.
GRPO can be kept open in case when there is orginal bill is yet to be sent by vendor.
Production orders which are open(ie) production completed - should be closed atleast
before year end so that it can't avoid unnessary WIP variance posted in next fiscal year,
because production orders will post JE's only on Actual Closing Date.
Jeyakanthan -
1KEK and Year End Closing Duplicates
Dear CO Experts,
I am having an issue when I run F.5D and 1KEK, we just started using these transactions in Jan 2011. We used to have all customer recon accounts in table 3KEH.
Our issue is that since we removed all the customer's recon accounts from 3KEH when I run F.5D and 1KEK all the transactions for 2011 including the open items from 2010 are transferred. When I run 2KES (balance carry-forward) for new fiscal year the balances are also transferred giving me duplication in KE5T.
My issue is that I want to only transfer invoices via 1KEK that were created in 2011. All the open items from 2010 I woudl like to remove, and have them transferred thru 2KES only I need to do this because my financials in Controlling are stating duplicates, and if I delete the balance carry forward in CO for tehse specific accounts via 0KE1, then financials show that the open balances for 2010 where posted in period 01 2011, whcih is not true. Anyone has any suggestions? as to how to choose current transactions in 1KEK for current month only? and to avoid picking up open balances, since this invoices were done in the old config.
Thank You and best Regards,Found a workaround...
To do this we did a reconcialition for January 2011 KE5T differences by anlaysing the amount differences for Jan 2011.
1- Run FI report FBL3N and enter the acct # and corresponding date range
2- Separate all documents types for the current month, payments, debits, invoices etc. the total of this will give you the difference in KE5T
3- after you run F.5D and 1KEK for month-end then enter the entries such as payments and invoices created in current month in controlling alone
4- Use tcode 9KE0 to make entries in Controlling ONLY, you need to balance to zero in order to save entry, so choose a revenue account to post the offset entry.
5- Then use tcode 0KE1 to delete the line item you entered as the offsetting entry in controlling because you only needed to fix one account. You use the offsetting entry as clearing entry but then you delete the item via 0KE1.
6- Run KE5T again you should now match
7- Run allocations 4KE5 last
Edited by: Frank on Feb 3, 2011 10:25 PM -
Month end and year end procedure
hi experts,
can any one help me for year end and month end procedure
correct answers will be duly rewarded
thanks in advancehi,
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)à (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
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)
thanks
sai krishna -
Expenses not closed after year end
Dear All:
I have a query, our last fiscal year ended at 30.06.2009 but upon analysis of some GLs relating to expenses i observed that they were not closed. Principally they should have been closed automatically as the year ended but they did not. What can be the possible cause. Please guide if there is any problem in back end configuration for these expenses GL relating to manufacturing costs.
RegardsAs explained earlier in couple of instances above, there is no closing as such and once you have done the carry forward of the balances, you would find that the B/S accounts have been brought forward but the P&L Accounts (Expense & Revenue) Accounts have been transferred to the Retained Earnings Account. At the year end the system calculates the net earnings amount by deducting total liabilities from the total assets and posts the same into the Retained Earnings Accoungs, at the same time, the B/S account balances are carried forward to the new fiscal year. You can also run a GL Balance Dsiplay Report using FAGLB03 and would observe that in the opening balance in case of P&L A/c indicated as "Bal. Carryforward" is zero but in case of B/S accounts there is a positive or negative figure depending upon debit or credit in last year's balance.
Hope this helps.
Regards -
Fiscal date DD-MON and year end looking forward
Trying to figure out the best way to look forward to the new year and back to the old year when comparing sysdate to a table column fiscal that is formatted DD-MON. The process works perfectly during the year, since is uses current year when comparing data. But at the end of the year, we do not see anything past 12/31 or before 1/1 in a new year. Any ideas? I was thinking of declaring a couple of values and based on sysdate Sep, Oct, Nov, Dec to add 1 year to Fiscal months Jan, Feb, Mar, Apr so they appear as the next year and vice versa for the first months of a new year, subtract one year from the fiscals to indicate previous year. Has anyone worked on something like this in the past?
Look in to this, i am substituting values for the year, so you will get idea.
The fisccal date you have is month end all the time or it is all the dates?
SQL> ed
Wrote file afiedt.buf
1 WITH T AS
2 (SELECT '01-DEC' dt FROM dual
3 UNION ALL
4 SELECT '05-JUL' FROM dual
5 UNION ALL
6 SELECT '10-JAN' FROM dual
7 UNION ALL
8 SELECT '30-MAR' FROM dual
9 )
10 --ens of data
11 SELECT TO_DATE(dt||'-'||&y,'DD-MON-YYYY') fisc_date,
12 TO_DATE(dt||'-'||&y,'DD-MON-YYYY')+180 NEW_DATE,
13 ADD_MONTHS(TO_DATE(dt||'-'||&y,'DD-MON-YYYY'),6)
14* FROM T
SQL> /
Enter value for y: 2008
old 11: SELECT TO_DATE(dt||'-'||&y,'DD-MON-YYYY') fisc_date,
new 11: SELECT TO_DATE(dt||'-'||2008,'DD-MON-YYYY') fisc_date,
Enter value for y: 2008
old 12: TO_DATE(dt||'-'||&y,'DD-MON-YYYY')+180 NEW_DATE,
new 12: TO_DATE(dt||'-'||2008,'DD-MON-YYYY')+180 NEW_DATE,
Enter value for y: 2008
old 13: ADD_MONTHS(TO_DATE(dt||'-'||&y,'DD-MON-YYYY'),6)
new 13: ADD_MONTHS(TO_DATE(dt||'-'||2008,'DD-MON-YYYY'),6)
FISC_DATE NEW_DATE ADD_MONTH
01-DEC-08 30-MAY-09 01-JUN-09
05-JUL-08 01-JAN-09 05-JAN-09
10-JAN-08 08-JUL-08 10-JUL-08
30-MAR-08 26-SEP-08 30-SEP-08 -
Employee Termination after payperiod end dates and before end of the year
I need a best possible senario at my current client one of the employees is going to be terminated *(resignation)on Dec 29th 2010 and his last payroll for the year runs up to Dec 26th 2010 (12/13/2010-12/26/2010: Check Date 12/24/2010), and there will be a reminder of three more days because his termination on 12/29/2010. But the business is looking to not to carry his additional three working pay days for the next year and W2 and wanted to pay in regular check that will be 12/24/2010 as an additional payment.
We dont do OCWB checks...can you please give us a best possible senario in SAP will be greatly appreciatedHi,
A few things could be done here:
1. Put the employee on unpaid leave for the extra three days and pay them out using a one time payment in the last pay period of the year.
2. Terminate them at the end of the pay period and pay them out with a one time payment in the last pay period of the year.
It really depends on a few factors. You have to think about how end dating the employee on a different date them the actual termination date will effect other configuration/customization you my have and should the employee really get a year end tax form next year for those 3 days.
thanks.
JB
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